Wednesday, July 9, 2008

KM: 7/9/08 Sales

Sold: GPN put
Closing Price: 46.67

Reason: Despite a great looking H+S top in the daily chart, on the 30min chart, with yesterday's spike and the continuation in the morning today, it was able to make a strong top pushing GPN to a neutral stance. I would not like to go long on GPN either though. I can still see GPN breaking down, but for now, it might just move sideways. I didn't want to get out so early, but from its strength today, i felt it best to play it safe especially since the market itself is quite unclear.

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