Thursday, October 23, 2008

JPM

played a small bounce on JPM...it was showing relative strengths among the financials..also it was showing signs of a bounce...i took profits quickly so as not to get greedy in this crazy market...a bounce in a primary downtrend is a dangerous play because once you get greedy, you will not get filled..and you will easily get knocked further down...so it's very important to notice the nearest resistance and selling way before the resistance to ensure I get filled...

bought: 37.47
sold: 37.75

this has been my only trade since my last trade post...i've been on a roll..winning 12 times straight..