Wednesday, July 15, 2009

CAR, Intraday to Swing Trade

This trade was intended to be an intraday only (using 10Min chart) but for some reason I'm not really sure... I've decided to hold my position. Because I strayed away from my initial plan, I'm now at the mercy of the overall market. The trade becomes high risk. Duh!

Based on the daily chart CAR is within the over bought area. A pullback might be in the offing making position management quite difficult. Here are my options for tomorrow sell on the first sign of strength or be ready to accept some form of losses.

Bought 300 shares with a cost basis of $6.40 including broker's commission. Still holding ARUN.

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