Any chartists wanna help me with these?
I am starting to try a little bit of TA, just to see what I can do with it.I try to not mix fundies with technicals, because thats a mess. However, I try to short companies that I think are expensive, so that I dont get caught shorting something that gets bought out.
I succesfully shorted NGS, calling a double top. However, I didn't short until it broke the bottom line...should I have shorted at the middle line? I made a quick 9% in two days
Now, I am short MCP. I realize it could go as high as $51 before I cover, but I didnt want to miss this chance. My target price is about 50% drop before covering. I am worried I may have the volume story wrong.
Then there is CAT, which I am bullish on...if spy goes up it goes up. If japan goes down, it goes up
I just bought some SJI too
I shorted some PAY
I didnt have any more money for TA, but I would have bought EAT
Ok, so what did I do right and wrong? This is my first time with TA