Thursday, April 2, 2009

LONG BK

bought 28.94 & 28.88
sold 28.74


reason for buying:
  • xlf was attempting to make a higher high
  • spy was strong
  • bk seemed to have alot of support around these levels from multiday support at around 28.6
reason for selling:
  • nope xlf was relatively weak all morning and it failed to make higher high
  • bad entry on BK should have entered around support at 28.60.
  • bk broke down trendline connecting yesterday's low to today's morning low
  • too much size
lesson learned:
  • never buy into a weak sector
  • always need good entry!!!!
  • wait for confirmation on strengths before entering...don't enter and then HOPE for strengths you idiot!
  • bk was very choppy stock..i should have known better and not playing it all together.

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