Saturday, February 18, 2012

Position Updates

After 5 red bars, the impulse bars  went blue for 2 bars, on an up move.   There was no follow through after the up move,  closing down on the second bar.  The MACD did not go positive.   No reason to cover yet.

PZE:   This was a poor stock choice.   On the chart, it's setting up decently with a nice  flag.   However, the volume is terrible.  Only 17.7k shares on Friday.  This was a trade that is too thin for trading and I should have passed.    I'm slightly down on this position.


I have July 15 puts.  The chart does not look terrible as there MACD is showing divergence and the selling pressure has been lower on subsequent downward moves.  

That being said, Picking up puts  was not a "chart" trade.   This company has been dogged by fraud allegations.  Some of the research that I reviewed for this trade includes:
Stock Citron
Delloit Watch
The Street.

If QIHU is a fraud then it will fall regardless of the chart.  Earnings come on on Feb 22.

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