March 3, 2011

YONG Closed at small loss at $7.28

Closed out in a hurry after accelerating downtrend made itself apparent. Market is very jitttery this week.

 Buy point was too early. The three green candles in a row appeared to be the bottom of the trend. However a closer look at the steepness of the green and purple EMA lines should have told me the downtrend was not over. I had to be patient for 15 days to see some profit, and then should have exited when two daily candles quickly jumped above the upper bollinger band on Monday this week. Should have taken the 3% profit while I could and be grateful to get a profit at all. Then it turned and plummeted, and I got out with a small loss on the way down.

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