Saturday, May 28, 2011
Intraday reversal pattern
MRCH was pretty clear picture. It gapped down from the regression channel after a fairly dramatic increase, and then placed in intraday reversal pattern "fill" the gap. I got short $ 25.68 and again at $ 25.38. I decided to carry all of it at night because I felt weak. The next morning she immediately fell as expected, and I covered half the $ 23.50. I saw an opportunity to cover the second half after he returns, and decided to wear another day, while ratcheting down my purchase protective cover guests and $ 25. On June 7, she still is not breaking down hard enough, so we covered the remaining $ 23.63. Good thing, because it got too active again that afternoon and ran hard in the vicinity. "Better lucky than smart."
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