Sunday, December 09, 2007

LIVE trading journal for 12/10:Trading Plan

I'm closely watching VMW because I'm salivating at it's future prospect as the major player in the server virtualization and CPU hoteling. Having said this, a better price action is desired as it starts to build its base. I have started to pick more that a pilot position as this stock price action starts to show some support at the current level. I will buy some more as it clears $97 and will load up when and if it clears $125.


AMZN has just completed building the right side of the base and few more days on these sideways consolidation will give this stock a much better launching pad for higher prices. As I have mentioned in my previous post, I have started building my position in this stock at much lower prices but the real fun begins when and if the price clears the latest consolidation. My trade plan is to buy some more when it clears $95.25 area and I will let it confirm the breakout. I will then buy some more after it pulled back to complete my position allocation.

2 comments:

GIbert said...

AMZN to $70, sorry pinoytrader. I'm sure you got out this morning though because you know the fed would disappoint.

MC said...

Gilbert,

I actually did not get out in my AMZN during the sell-off. I'll wait and see in the next few days if this is just an over reaction or this move is done for now.

-MC