Tuesday, October 19, 2010

18th Oct 2010 – Short when market is up!

Input:

 

  1. -NA-

 

Buy $

Sell $

Sell Short $

Buy Back $

Stop Loss $

Profit / Losses

 

 

233.00

 

$235.22

 

 

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

 

  1. It has been side trading in a very narrow range ($232 - $234) for 2 weeks.
  2. Intraday chart shows bearish cross of 20MA and 50MA line.
  3. RSI at over-bought position.

 

Lesson Learnt:

 

  1. This is quite a risky take. I am trying to pick the very top, while the index is still on uptrend.

 

Intraday Chart

clip_image001

 

Historical Chart

clip_image002

No comments:

Post a Comment