On May 10, I wrote: “So, stocks on the New America list often take off sometime after their story is published in IBD. One recent addition to the New America list that looks promising technically to me if it can break $18.60, is ASIA. ”
After I wrote that post, I placed a GTC (good til cancelled) trigger order with my broker to buy ASIA if the stock traded above $18.60. Sure enough, a week later, on Tuesday, ASIA broke out on huge volume. I was at an all day meeting on Tuesday, when ASIA broke 18.60 and I bought my shares automatically at around $18.66. One does not have to watch the market in order to buy break outs. Just use trigger or buy stop orders. ASIA closed Tuesday at 19.44. I will now place a GTC trigger order to sell ASIA if the stock falls below $17. These trigger orders take the emotion out of the trade. Note on the chart where “NA” indicates when ASIA appeared in the IBD New America column. It makes sense to monitor stocks that appear in the New America column.
