Tuesday, August 24, 2010

BONT and shorting at 30 day MA. Need to refine buying points. Patience.

Shorted BONT below 30 day average at around 9 dollars. It moved  to 10 then came  back to 9 ..then I covered it. Right now it is at 7 dollars.

I am losing and not making on this trades because of my buying point is not good. I was correct about the trend...it happened as I expected. I should not have covered the stock so early.

Or to be in profit right from the beginning on has to short the stock early on the top of the mountain or when it is sliding and makes some visits to the 30 day MA points or above it.

Same with JKS...it is on its top now. My buying point is not near the 30 day MA ..I am talking about buying on the uptrend. Got into it at 26.49..at the top. Should have waited for bad day like today when it came back to 24.5. Its not good to get a loss in the beginning since it lowers the confidence.
In this case there is enough volume to support the buy. When the market recovers or moving side ways...this stock may soar to 30. Lets see.

Buying points need to be refined for better profits.

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