As expected, google (GOOG) gap-up nicely this morning after excellent earning report and multiple upgrades (here and here)… decided to lock-in profit (& make money) when it couldn’t breach the 460 resistance … it is always advisable to “ring the register” when the profit meet your target … just leave some on the table for someone else, you’ll be rewarded accordingly …Whenever this thing happen (profitable trade), the emotion will kick-in to test your greed and fear … hence it’s the test against your ownself to control the emotion … else a profitable trade can turn against you and become a loss … you can neither sell at the highest nor buy at the lowest … just enjoy your profit and wait for the next game … it’s a never-ending game for us …
I took profit from starbucks (nasdaq : SBUX) after it shows weakness this morning … in my previous posting ( here ) i noted the resistance at $38.00 of which proved to be hard for starbucks to cross … furthermore after crossing the 12,000 mark yesterday, dow jones shown weakness in defending this garrison … in addition today is “friday” as well as “option-expiry-day“, hence the volatility … in time of uncertainties, profit-taking rules the day …
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October 20th, 2006 by financetwitter
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