Jan 04 2007
My limit-order to close position on Google (Nasdaq : GOOG, quote) was triggered today after failed yesterday to execute it at my preferred price. The reason I entered the limit-order was due to my analysis of resistance $ 475 after opened the position on 21-Dec-2006 when the price hit the support at about $ 461.
decided to settle below $461 level for the next 3-days before gap-up a little to trade above $461 thereafter, to my relieve.
As a matter of fact, immediately after I opened the position on that day, Google seems to having fun playing with my emotion when it
decided to settle below $461 level for the next 3-days before gap-up a little to trade above $461 thereafter, to my relieve. $475 used to be the strong support-level for Google during the period when it breached the $500 level for the first-time, which was short-lived. When it collapsed below this level ($475) on 18-Dec-2006 and never recover for the subsequent 3-days, I decided that $475 became the resistance level with $ 461 as the new support level. Hence, the decision to open new position with Mar-2007 460.0 Strike Call.
Yesterday, Google tried to re-establish the $475 level as the support but failed. Today it tried again and my limit-order which was still active got triggered. I hope Global Payments Inc. (NYSE : GPN, quote) which I think will beat the estimated earning again for the 18th consecutive time tomorrow will materialize.
# TIP: Never open or close position using market value, use limit-order instead to get the better price. Take profit when your stock investment reaches your target – don’t be greedy. Option trading can be lucrative compare to stocks investment.
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January 4th, 2007 by financetwitter
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