High Heeled Traders

No Slip Grip

January 26, 2012

It’s so tempting.  Seeing that my oil stock has moved strongly I was tempted to take profits since a few days ago.   Fortunately, I have been busy with the book launching and that has diverted my attention, allowing me to observe my rule about only taking profits when the stock has closed down, which it hasn’t done!   The stock has shown lower volatility or  “laziness”, it is not moving as much, which could indicate it may be changing price direction.  BUT,  (learned the hard way) not to pre-empt the movement.

The US market again closed higher today, along with the oil price.  Potentially, the stock could follow this movement upwards.

So,still  keeping my grip.

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