Friday, August 7, 2009

C

Just sold 600 shares of C that I believe I bought around $3 average... not bad for a 33% pop. I still have 600 shares left to go... will probably unload 300 more around $4.50 the next level of resistance and the rest I'll hold for the long run. The buyers need to chew through all the $4 orders.

Stock looks really strong still trading above the upper bollinger band holding today's breakout... will be monitoring to see if the trend continues and/or the stock begins trading sideways in a volatility squeeze. With all these positive government economic indicators the worst for even Citigroup looks to be in the rear view mirror at least that's what investors may be seeing.

Probably won't be trading anymore today unless I see a really good setup during the day.

Daily chart:


1 minute chart:
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1 comment:

  1. blackmarktAugust 7, 2009 at 7:40 AM

    Saw the setup and the intraday trend. Thought this was another good opportunity to just buy 1000 shares for my Dad's 401K account at $4.03 and just forget about for a few years. Do some monthly covered calls on them in the future.

    Looks like the stock is breaking out after chewing through that $4 resistance... now at $4.05 hitting another level of resistance.

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