This was a short term swing trade taking advantage of a clearly oversold EMC. In the graph, I showed the channel that EMC has been trading between for the last few months.
The recent rally took EMC both out of this channel, above both 8 and 17 EMAs, through the upper Bollinger Band, and to RSI of 93. There was almost no way that EMC was going to break out further from this combination of oversold indicators.
However, I need to work on my fear of giving back profits, as I should have trusted this to come down much further before selling. The quick profit I did take kind of came almost too easily, so I decided to just take it an run. I'm just so nervous about the market action in general right now.
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