Monday, July 14, 2008

Trade Upate - AMGN



AMGN tried to break resistance at $51.80 for the 4th day and failed. I kept tightening my stop and finally got stopped out of my remaing position today. $20k+ on this position in a down market...not bad. It also helps to offset all the daytrading lossess I've been taking lately. I'll wait for the 30-min RSI and MACD to cross-over and rise again before re-entering. AMGN is still showing strength and trading above the moving averages.

(B)ought - $45.50
(R)isk - $1.00
(S)old - $50.80
(P)rofit - $5.30, or 5.3R

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