Relax

This week provided me with several key moments in several trades where I needed to get a grip. One such example was with ARG (Airgas Inc). I am long the position in my swing account, and on thursday both ARG and APD were halted for a time. Then some news was released regarding the buyout offer being raised to 70 a share.

ARG opened much lower and I had a tough decision to make. My trailing stop was at 60 (I had entered at 61 from a knife catch play), but I had a critical decision to make. Nervous Ninny!

I decided to Relax. I took the advice from @TraderFlorida, something he tweets frequently, and it seemed like a simple thing to do. I decided to leave the trailing stop in place, and monitor for dip buyers. It does appear that others viewed the 62 level as a nice spot to step in. As of noon today, the stock is sitting at 63.80 -- a nice steady recovery.

Relax.