Crazy Trade in GW Yesterday

December 23rd, 2008

I took one manual trade in GW yesterday. It was gapping down and printed a nice inverted hammer on the 2nd 10 minute bar. It looked like it was on its way until 10:28AM or so. Luckily I was stopped out before trading was halted for over two hours. Apparently someone found out some news that initially the company had no idea about. They initially put out a release that said they had no idea why the stock price dropped. A little later they fessed up.

This is only the second stock I’ve been in where trading has been halted in over 2.5 years of trading this particular style. The previous one turned out really well. Here’s the chart:

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