Saturday, May 3, 2008
I've made a huge mistake at my entry price on this counter. A simple analysis is shown on the chart.
Rightfully, I've spotted the trend that it rebounds off it's peak and off it's support. If one manage to catch the 2nd and 3rd rebound off the support and the 3rd and 4th rebound off the peak, I think that person is a happy man. =) I din, but I've learnt a bit in my 1st ever serious short position.
I did not take time to observe the movement of the counter but hastily entered a position quite off the possible peak. I was impatient. Note: Shorting is a total different ball game all together.
Taking a closer look on hindsight, I think I learnt a few things off this 1st short position.
People interested in shorts, dun plunge head in. Do a more detailed analysis.
More profits can be taken from a short if done right. Be careful.
1 comments:
The name is sort of like a financial orgin. Financial services companies have simlar sounding names always been that way.
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