17th Aug 2011 - When PriCeLiNe change, run first, negotiate later.

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
			510.16		Even	6 days

 

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

 

1. It is approaching my short point.
2. Market was bullish and the price now came above its intraday 20MA and 50MA lines.
3. It has cam above intraday trend line of line $510.00 I have no choice now but to protect my capital first and talk later.

 

Lesson Learnt:

 

1. I was trying to protect my capital, but looks like my stop loss is not that good. One thing for sure, the stop loss is pretty hard to set in this case.
2. It is still good to go short in this stock, but I think I am going for another one.     ;-)

 

Intraday Chart

Historical Chart

10th Aug 2011–Know your PriCeLiNe before your short!

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
		520.00		542.45

 

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

 

1. Intraday shows that it start to get weak where it was traded lower than its range bound two days before.
2. Earning just release, so there should be very minimum surprise to the upside.
3. Its daily 20MA line act more like a resistance line.
4. A clear double top can be seen in the weekly chart.
5. Its weekly 20MA line is now its resistance line. At April and July it poke down thru its weekly 20MA line twice.

 

Lesson Learnt:

 

1. Sell short at its intraday 50MA line. This is a very strong stock so it should be able to get up to the 50MA line before it came back down. Don't rush to short it.
2. This is a strong stock, so be ready to run if things goes wrong.

 

** Special Note: This post is specially dedicated to my good friend – Boon Leong.     

 

Intraday Chart

Historical Chart