I sold MER at 228 today hence the picture. I made some profit from it anyway but could have gotten more if I sat still and wait until the closing before selling.
I already wrote a plan to sell it at 240. Way to follow your plan.
*Positions opened up at the closing should be sold either on the next day's opening rush or at the closing, not during mid-sessions.
Sold LC for a loss too during mid-session despite heavy buying of Wealth, JAP and Regina these past few days. I'll be damned if it moves up tomorrow which is highly likely as a doji has formed today.
Sold SCC for a small loss plus commission.
So there, with the 1.58% gain of the index today, I closed all positions that hardly gave profit. Turnover for today dropped to 4Bil which is lower from yesterday.
AGI tried to break out of 12 today but could not sustain the strength until closing so I guess it is going to head a little lower by the end of the week. I would have put up a position in it had it closed higher than 12 today.
ATR seems to be gobbling up NIKL shares at 19.90 to 20 levels this past few days. Hopefully it will do good to the issue in the short term.
For now, I am just waiting for trade setups in SMC, AGI and NIKL. Will post useful charts(hopefully) later.
In a downtrend, the right thing to do is to open a short position. Opening long positions would be illogical. So with the "long only" market that we have, what's the right thing to do now? Yep, that's right.
*With the market moving down, I am going to play a game called "short the market". I'll look for certain issues to short hypothetically. Short positions would last longer like regular short positions in global markets instead of the 1-day-only short in our market.
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