Wednesday, September 28, 2011

28th Sept 2011–Don’t get addicted to Mexican Grill!

Buy $

Sell $

Sell Short $

Buy Back $

Stop Loss $

Profit / Losses

Duration

 

 

331.00

 

345.00

 

 

 

imagesReason for Buy / Sell / Sell Short / Buy Back:

 

  1. Indexes are weak and dropped badly.
  2. Daily chart looks like CMG is forming a double top and the second topping candle looks weaker in the weekly chart.
  3. Intraday shows that price cannot sustain above 20MA line.

 

Lesson Learnt:

 

  1. I have a good safety margin for this short position.
  2. This is a very strong stock. Be careful!

 

Intraday Chart

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Historical Chart

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