Thursday, June 30, 2011

Last 2 trades for Jun 2011

PEC and Soundglobal.

Too lazy to update yesterday. BAsed on Tuesday closing, I entered 2 counters in Wednesday morning, first thing.

Setup of continuous run possible - Friday and Monday to go shall monitor weakness to sell
Since it is rebounding and based on the new gravity line theory, prices should rebound.
High volume and price movement on Tues. Wed close, 5d ema cuts up to 10d ema. (2nd buy signal)
Target price 76 cents.

Rebound play
Volume increasing
5D EMA cutting up 10D EMA - 1st buy signal
For longer term play..will sell when signals come. Target i think is around 1.20

STI looks recovered. The above was bought based on their charts and betting on STI to recover up 3071. This is the point to convince me that things are going well. But if you look around stocks everynight and see charts turning on Tuesday <---meaning STI should recover?

Little did we expect STI to perform so strongly today also.. 2 big white candles with increasing volume. This should not be too fake.

SO far, execute as per signal, sell as per signal. NOBLE was sold too early should cut only when 1.89 support is breached..and not cutting when 1.90 is touched<---too conservative.

Now we shall see if I can sell base on signal. All the above 2 trades have planned stop loss price and target price.

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