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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

Yes, I am Cognizant of Earnings

chessNwine Fri Oct 29, 2010 1:39pm EST 5 Comments

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I sold out of my Cognizant Technology Solution, Corp. position ($CTSH), as they have earnings coming up on Monday.

All trades are time-stamped inside The PPT.

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TOTAL PORTFOLIO:

EQUITIES/ETF’s: 40%

  • LONG: 40% ($ATPG $DDS $HMIN $HRC $IOC $MSTR $WEN)

CASH: 60%

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5 comments

  1. HawaiiFive0
    HawaiiFive0
    October 29, 2010 at 2:00 pm

    Chess,

    I missed your sales of SHLD, and am still holding it in slightly profitable territory. Do you think it’s chart is still OK or should I let it go?

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    • chessnwine
      chessnwine
      October 29, 2010 at 2:04 pm

      Well, I think it was disappointing to see it lose the 20 day m.a.. Then again I was playing for the big short squeeze breakout. It could go down and test the 50 day, but on the whole the chart is still relatively healthy and has made progress since the summer. I sold it because I did not want to turn a winner into a loser, which is one if basic trading tenets. So, keep that in mind.

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  2. HawaiiFive0
    HawaiiFive0
    October 29, 2010 at 2:08 pm

    Thanks Chess,

    I think I’ll sell it at the end of today and get what I can out of it and watch for a bounce off the 50day to reconsider. With regard to a similar line of thinking, what your current thoughts about ATPG?

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    • chessnwine
      chessnwine
      October 29, 2010 at 2:12 pm

      ATPG caught a nice bid today right at a key support level. I am still holding it as a longer-term swing. I will add my final 1/4 if it breaks out the falling wedge it is in now to the upside.

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