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Otis2000's  Instablog

I'm a 17 year FA with a large major US brokerage firm.
  • ETP Sold lost 3% 0 comments
    Sep 2, 2009 04:30 PM | about stocks: ETP
    Sold some of the ETP shares I have on the books @ $39.92.  Bought @ $41.25 on   8-11-09, lost about 3%.  Held all shares in income oriented accounts.

    Broke my own rules when I bought this, this was a bad buy.  When I bot this $ was extended above the 50 DMA and on weekly chart MACD was overbought and flat.

    Sold due to price falling below 200 DMA on a weekly chart 40 period MA, MACD declinging from an overbought condition. 

    Has support at about $35  a 50% retraceent of recent move up. I would buy the stock back at lower prices about $35 if chart looked OK.
    Stocks: ETP
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