Saturday, May 21, 2011

20th May 2011–Top up for a longer term investment

Buy $

Sell $

Sell Short $

Buy Back $

Stop Loss $

Profit / Losses

Duration

Top up at $49.00

Avg. price $36.67

 

 

 

New stop 40.60

 

 

images

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

 

  1. The chart tells me that it has recovered from the drop and the price is still below my previous partial selling price.

 

Lesson Learnt:

 

  1. Daily chart shows that it only dropped back to around 63% Fibonacci point, Never reach the 76% that I expected it to do. That can be a good thing.
  2. I missed the BEST BUY point because I was scared. I saw it but I did not follow my own rule that I set and wasted all the good profit margin.
  3. Saw market gaining some strength, has slightly more confident in taking the trade.
  4. Looks like my previous partial sell is not too bad of a decision (so far).
  5. My new stop loss point is kind of low because that is just to protect my capital. Chat wise I believe it has a lot of upside potential and it should be a very good candidate for long term investment.

 

Intraday Chart

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Historical Chart

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