18th Aug 2011–First visit to Bank of America

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
7.58				6.94

 

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

 

1. http://www.marketwatch.com/story/betting-on-bank-of-america-over-apple-2011-08-10
2. Intraday shows that it is bucking on uptrend and price has came up of 20MA and 50MA lines.
3. Intraday MA lines bullish cross.
4. Daily chart shows that it is forming a pennant formation.

 

Lesson Learnt:

 

5. Be careful, this pennant formation might lead to further low.
6. Watch the reaction of indexes carefully. The BIG BEAR might return.

 

Intraday Chart

Historical Chart