Thursday, January 5, 2012

5th Jan 2012–Killing a dinosaur at the neck !

Buy $

Sell $

Sell Short $

Buy Back $

Stop Loss $

Profit / Losses

Duration

 

 

320.5

 

345.10

 

 

 

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

 

  1. Intraday chart start to show weakness.
  2. Daily chart shows that it has again punch down through the $315.00 neckline, but manage to rebound back.
  3. Daily chart also shows the strong ripple coming to the 20MA line and it is about to do another bear crossing with the 50MA line.
  4. Daily and weekly chart MACD, TMF and RSI indicators are all showing weakness.
  5. I still have a safety margin of within 10% in this short.

 

Lesson Learnt:

 

  1. My short limit should be set to $327.00 instead of rush in for the short. Again, my emotion is controlling my entry.
  2. The volume came in is above average. This might cause some concern on this short. Will this be the last push upward? We will see.
  3. Will have to monitor closely on the price movement at the 20MA and 50MA lines.

 

Intraday Chart

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Historical Chart

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