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| Symbol | Sector | Return | Exposure | Trades | Last Trade | Status |
|---|---|---|---|---|---|---|
| FAS | Non Equity Investment Instruments | -13.01% | n/a | 2 | 08-Apr-09 | Prior Holding |
07-Apr-09
Tuesday 7th April - Mixed Feelings
Holding Rationale for FAS.
Although the upward momentum has been quite significant of late, the market is becoming overbought and is due for a cool off. I maintain that the medium to long term bias is now on the upside, but I'm expecting a small retracement to the downside this week.
As a result of the above, I've put in two new short trades: ICE and SLAB have both moved up to their 200 day moving averages (resistance) and are posting sivergences on most of their indicators. I'm looking to short if yesterday's lows are breached to the downside.
I've also put in two new long trades, both are breakout plays on the back of higher OBV (On Balance Volume) indicators. They are GMCR and URE and I'm looking to enter if yesterday's highs are breahed.
As a side note, I'm entering trades if respective highs (on long trades) and lows (on shorts) are breached - this is done to ensure that I get entries once the stock has started moving in my specified direction. In a choppy market like this, I might miss great moves but I'm trading that for piece of mind that I am on the correct side of my trades!
Posted at 05:33 in Holding Rationales | Permalink | Top
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