FSLR: closed half position at $229.8 for a gain of over 18 points; raised the stop to just below 220 for the remaining half position.
CME: closed half at 598.8 for a gain of over 22 points, raised the stop to just below $582 for the remaining position.
Do I feel lucky? Actually, NO, the capitulation never really came so I held back on several buys (AAPL, BIDU, STP, JCG, as planned in my last weekend's trading calls). The market turned around just at the nick of time, and the way it closes, we should see some follow-through tomorrow and even Friday. If you did get in today, great but don't get cute on that or you won't smile for long (see my earlier post on how to catch falling knives).
Wednesday, January 09, 2008
Position Update
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2 comments:
Well done blog! I will start following your blog as you seem to have excellent technical analysis skills!
I won't necessarily trade as you do, but I will definitely take your information into account!
Thank you!
Barry:
thanks for stopping by! I am actually relieved that you won't necessary trade as I do, because I often do some real-time adjustments based on market conditions. For example, I had planned to get into FSLR near 220 with 215 as stop, but adjusted about 10 points down this morning; same for the CME: planned to enter around 585 with a stop just below 580, but lowered the point by about 10 points.
regards,
fw
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