Here’s Why I Closed my Position
The market gave us a
strong open, but look at the A/D line (Advance/Decline) of the New
York Stock Exchange. It is, like yesterday, slowly deteriorating. Needless
to say, buyers are not aggressive at all.
09:55:55 (From TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
SBC |
buy at the market |
24.37 |
24.60 |
24.48 |
TK |
10:06:13
Follow up on SBC
It is struggling to take out 24.55. We are selling half (+0.06). Move stop to
breakeven.
I received a couple of e-mails on this SBC trade. Basically, they said I got out
too soon. As you can see on the 5-minute chart below, SBC began to form a
resistance line. I just could not wait till a breakout. Eventually, SBC hit the
target, but it could have gone to the opposite direction. As many traders say,
if you have doubt, it’s better to close the position.
T.Kamada
If you have questions, feel free to
mail them to me.
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