seven wolves

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Short TY and loss a bit.

(2006-11-12 13:22:29) 下一個

I shorted TY based on possible bear divergence on its weekly charts.
Shorted @ 21.55  covered @ 21.65  90 shares.

Reason to short:
1). I judged that overall market is going to slip down. 
2). possible bear divergence on its weekly charts.

Reson to cover:
1). The market is still strong.
2). The day-to-day range is too small. Even the price goes down, the profit is small.


Two lessons:
1). What I intend to do is to hold stock for a few days, but I based my analysis on weekly charts. This is ridiculous.
2). The day-to-day range is too small. It's suitalbe for long-term holding, but not for short-term trading.

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