Saturday, May 28, 2011

Reviewing charts at the end of the day

In reviewing charts at the end of the day, I noticed that IBEM attracted quite attractive reversal bar on June 6, so I wanted a short and seventh The very first bar on June 7 was weak, and I got short Pronto. Then I stopped watching IBEM because I was trying to exit MCom (another position), and when I returned to the scheme IBEM, I was surprised and pleased to see a big expansion in the bar downstairs, and I decided to take the money and run. When something I'm short tanks unexpectedly fast, I tend to leave immediately, because I believe in taking "windfall" profits, and Snap-back of a sharp decline can be dangerous (see MCom).

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