tradersams blog

okn close

OKN: Closed my position in Oakton at 2.72, for another in a series of trades on this stock.  I must say, the usual mixed blessings – but on the upside I’m always happy with a 35% return on a 9R trade.  I watched this trade carefully as it was my largest holding at present, and was ready to exit after the big black candle about two weeks ago – but after a fast recovery in early trade I decided to hang in there.

With the evening star two days ago, I thought I shouldn’t push my luck when I received an alert that my secondary limit was touched in early trade today, so the position was closed. I saw the recovery following my exit – and like all these things, only the future will tell me if I should have actually pyramided in rather than exited today!

That said – I don’t get too many 9R trades, so I’ll reward myself with an Ice cream after dinner to celebrate!

MOL: Opened a position in this stock today, basically buying a dip in this stock which has been very volatile lately – a small position as its moving a bit faster than I may be able to watch….

pna close

PNA: Closed my position in Pan Australian today for a 16% increase – and as for OKN above its with the usual misgivings.

The original entry (not documented in this blog) is marked with a diamond in the graph to the right as I received the shares as part of a share placement that I took up when I had an earlier holding.  Followed the plan for this trade well, but now I look at the graph in my editor I can see a clear support forming at the bottom of todays candle which has held over the last 3 weeks – not to be ignored.  Nevertheless I see it now and I missed it when glancing at the chart over the last few days.

Looking over tonights graphs I can see some interesting buys on retracements forming, and some exits on falls through stop losses – lets see what tomorrow holds.