[printfriendly]September 19, 2013:
Our Qihoo 360 (QIHU) stock purchase back on May 6th has done fantastically well. We have almost tripled our money. Click this link to review our Qihoo stock trade.
Let’s take a look at a current chart of QIHU. This is a really nice chart – look at how it just trending upwards slowly but surely without any major selloffs.
(Click to enlarge)
I would take some profits here after such a nice run. There has not been a serious correction since April, and the price is pretty extended above the 50DMA and especially the 200DMA.
I would sell 50% of the position, and keep the remaining 50%. Never sell all of your position just because you fear losing your profits. Let the stock’s action take you out of your position, not your emotions. You never know how high this stock can go, and trading with your emotions will cause you to make mistakes.
I would place my stop-loss order right under the 50 day moving average at 71.00. The stock has not been below the 50DMA since April before it made its big move. Make sure to adjust your stop order as the 50DMA changes.
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