5th May 2011–Everything that goes up must come down

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
		50.45		50.92

 

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

 

1. Indexes start to get weak as expected when market started.
2. Agilent (A) intraday chart look curvy and I expect its 20MA and 50MA line will do the bearish cross soon.
3. The ran from $47.00 to $51.00 looks very tired now with volume decreases.
4. The 1 decade chart data shows that it is time for A stock to take a rest.
5. Many stocks were sold off heavily yesterday.

 

Lesson Learnt:

 

1. Timing in stock market can be done but need to do homework and be ready to admit mistake when it happens.
2. This stock is quite strong and bullish at this moment. Tight stop loss is necessary.
3. Be ready to buy back when it hits the 20MA line.
4. I SHORT it not long after the market open. Seldom do this, but this time I did it right. Looking at the watch list, indexes and some other stocks, my instinct told me to do so and I did it.

 

Intraday Chart

Historical Chart