22nd Oct 2010 – Be Green, Save Earth, SHORT BP!

Input:

 

1. -NA-

 

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses
		40.38		42.47

 

Reason for Buy / Sell / Sell Short / Buy Back:

 

1. Intraday chart shows that it has penetrated the $40.50 support line again.
2. Intraday chart also shows that 20MA is bearish crossing the 50MA line again.
3. Intraday chart also shows that price is been block by the 20MA line.
4. Historical daily chart shows that it has break down from the trend line and also below the 20MA line. This can be a big resistance for it to climb back up.
5. This is among the 3rd time that it came up to the $42.00 price line and decline back.
6. The stop loss point is still manageable within my appetite.

 

Lesson Learnt:

 

1. I should be more patient in terms of setting the sell short price limit. $40.50 should be the setting price because this is the ceiling that it "should" hit again.
2. Don't make the same mistake again like in AZO.

 

 

Intraday Chart

Historical Chart