25th Aug 2011–YOKU… we are watching you!

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
24.00				19.87

 

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

 

1. Bull and Bear are fighting and the average price line is around $24.00.
2. There is healthy sign that bull is back in at the intraday chart trying to pull this stock higher.
3. Daily chart seems to form a triangle pattern and now the price has just poke up from the tip of the triangle.
4. Weekly chart shows something that looks like the Elliot wave formation (which I am yet to read on the textbook).

 

Lesson Learnt:

 

1. My entry point is still weak. I should have set the buy point at the intraday 20MA line.
2. Be careful, Steve Job just resigned after the market, this might cause some trouble to the market.

 

Intraday Chart

Historical Chart