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Daisy, Southern Copper in 2006 went from an affordable of $69.36 and closed as high as $105.85 on May 10, 2004. The stock traded down $3.03 on Wednesday to shut at $80.72, I'd like to see if it breaks $78 on negative aspect because to set it could freefall towards the low $70 range before it bounces back. Their mining and smelting activities are primarily in Peru and Mexico, so when watch this trade you might like to consider Peru Copper (AMEX: CUP).
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On another front, if your stock has news and starts to run, my plan has two alternatives. First, if the stock is truly a core holding and I've written it for a few days or month for premium, then before I even put for a trade, I calculated my target profit and decided it was acceptable. Should i be called out, then so be it; my target met, profit is staying with you and my plan is finished.
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