I made the trade shown above in my super fund. IPL was up over 35% in a 6 month period when I took the trade. It had one week in the previous 6 months where it jumped 18%. I bought in at $26 and sold at $72.
Another signal fired not long after the exit. It would have been nice if the exit wasn't given - but that's the way it goes. Sell up and move on. I didn't take the second leg. When the second buy signal was triggered the stock was up 220% over the last year!
From when the 2nd buy signal was triggered to mid May 08 the stock put on another $100.
How many traders would have looked at IPL and thought it's had a good run surely there's not more to come? I did, although I picked up MCC as a consolation prize.
So much for discretion.
stevo
