Thursday, June 7, 2012

New trade: V

Visa looks quite a bit like discover.  But looks like it is more of the primary mover.

V rallied and then sold off.  I had an order to short yesterday, that didn't get filled.  Any way I took it out at 117.02 on 100 today as it began to fade. I have a stop at 121.  This looks like a toppy pattern and if it is this could be at least a 10 point move, within the next few weeks.

DAY 2:
I was perhaps a day early, but my stop held.  This is starting to look nice as V was faded after a strong initial move:
 The key point is what it does around 112.5.

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