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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

CHESS MOVES

chessNwine Mon Jul 19, 2010 11:05am EST 5 Comments

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I sold out of my final 1/2 position of $LULU. The first 1/2 I sold a while back was for a nice profit, whereas this 1/2 is for literally break even. The daily chart of the stock, seen below, is a pretty good reason why I sold. Notice how the stock has been wedging up on light volume, only to breakdown again. Even if the stock doesn’t continue to breakdown, I want to avoid turning a winner into a loser.

All trades are timestamped inside The PPT.

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TOTAL PORTFOLIO:

EQUITIES: 32%

  • LONG: 32% ($NR $NTAP $THOR $SAPE $SWSI)

CASH: 68%

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5 comments

  1. sssc
    sssc
    July 19, 2010 at 11:11 am

    pro move, chess!

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  2. Kenai
    Kenai
    July 19, 2010 at 11:23 am

    Excellent move. Did the same with my HSU.TO this morning.

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  3. HawaiiFive0
    HawaiiFive0
    July 19, 2010 at 12:30 pm

    Makes sense to me. Although I’ve been in different stocks than you, all along we seem to agree pretty much on the cash percentages. I’m at about 25% long right now.

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  4. MarshalN
    MarshalN
    July 19, 2010 at 2:45 pm

    Turning winners into losers…. there’s nothing more aggravating than that.

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