tradersams blog

Chemgenex trade

CXS: today closed a position in CXS for a 4% loss.  For a share that ha gone up nicley over the last few months, that hurts a bit.  I got stopped out at 60c, which is helpful – if it hadn’t fallen so far I planned to exit when the share fell below the upwards trend line.

The original entry was selected for two reasons: firstly an intraday breakout through the resistance line, and secondly because of the very high volume that time – the share came to my attention through a ‘heat’ style market map.

Gotta say – the years not getting off to a very good start!!

Looking through my graphs tonight, I’ve trigged a few stops and given the action on the US markets tonight I guess we may gap down on opening – so I expect to experiance some pain tommorrow.

On another note – the System A scan on the weekend returned nothing.