6th May 2012 – Let’s go Nevada.

Buy $	Sell $	Short $	Cover $	Stop Loss $	Profit / Losses	Duration
		28.21		30.10

 

Reason for Buy / Sell / Short / Cover:

 

1. Price has dropped below the neck support line on the weekly chart.
2. I should have been more patient in my entry. Should have waited for it to come to 20MA line in intraday chart.
3. Monthly chart shows that the price not only dropped below the neck line support. It is also below the uptrend line now.

 

Lesson Learnt:

 

1. Watch closely the GLD price movement. They are highly correlated.
2. I should have checked when they will announce quarterly report. Guess what, they will do so on 7th May. Looks like I can be in deep trouble.          ;-)

 

Intraday Chart

Historical Chart