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10-11-2011, 12:00 PM
just so that readers don't just follow. My 20 lots is part of my pyramid down strategy. And i view noble as both a technical short term trade and long term holding. Here is how i intend to play it.
20 lots @ 1.22. If it goes down further to 1, i will buy another 20 lots. To avg out at 1.11. If it goes down further from there to 0.8, i will buy another 40 lots, 0.6 another 40 lots, 0.4 (2008 low), another 80 lots.. I am confident because this is a Noble and not some small non blue ship. I am ultimately prepared to own up to 200K of Noble. Meaning I can double down all the way to 2008/09 low.
If noble spikes back up to 1.5-1.6, i will just sell my 20 lots and take a small profit. So it is technical play on this count. I can then look out for my commodity part of portfolio later.
20 lots @ 1.22. If it goes down further to 1, i will buy another 20 lots. To avg out at 1.11. If it goes down further from there to 0.8, i will buy another 40 lots, 0.6 another 40 lots, 0.4 (2008 low), another 80 lots.. I am confident because this is a Noble and not some small non blue ship. I am ultimately prepared to own up to 200K of Noble. Meaning I can double down all the way to 2008/09 low.
If noble spikes back up to 1.5-1.6, i will just sell my 20 lots and take a small profit. So it is technical play on this count. I can then look out for my commodity part of portfolio later.