Thursday, June 23, 2011

Position cleared. Market sentiments mixed

Samo sold.. break 22 cents to hold..break 21 cents to sell..when it touched 20.5..I sold for 21 cents..no doubt this stock got long term potential but apparently no volume to back it up after 10..I rather take profits as planned.

Cut loss on Noble. 1.91 breached. Although close at 1.91, do not like the mixed feeling in market. Rebound set up different, 2 days open high close weak. I rather stay aside and wait for clearer directions.

I execute above trades as planned, taking emotion out of context. No doubt I cannot bear to sell Samko even at 21 cents..but when it touches 20.5 , I know I had to let go. I planned to sell at 22 but if I sold it then and it break past the 61.8% fibo resistance..I will be losing much more than just 1 cents right? Although its 5 tick away from my target but no volume to support it.

Above are traded in time frame of 2 weeks, so have to sell it. We will see of this discipline can continue.

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