27th May 2011–Pattern Study–RDN

Ticker:

 

1. RDN

 

Topic:

 

1. Is this double bottom going to make it? ---- I seriously doubt it!

 

Lesson Learnt:

 

1. Not all double bottom will make it, be selective when you make the trade.
2. RDN definitely look very dangerous from the daily chart perspective.
3. If you follow my post at http://stockaki.blogspot.com/search/label/RDN on 20th April, you would have made quite an amount of $$.
4. Well, did I make the SHORT trade? Again, the stupid one is ME!

 

Intraday Chart

--- I think it is better not to look at the intraday chart. It may lure you in prematurely.

Historical Chart

20th-April-2011–Pattern Study–RDN

Ticker:

 

1. RDN

 

Topic:

 

1. Another big mountain kind of chart -- The Himalaya Mountain chart.
2. The price will tank just with the weight on top of it.

 

Lesson Learnt:

 

1. If short was actually taken in this case. It is really important to control the emotion when the price gap up the next day. Stay cool and see how thing react might be a wiser choice.
2. In addition tonight DJIA gap > 150 points before market open. So such a bullishness will easily sway my emotion and run for cover.
3. This case has again prove the importance of chart pattern recognition.

 

Intraday Chart

Historical Chart