hi misty, it seems like you have been waiting to pounce on the one trade that has gone poorly for me out of the many trades that have gone well....... that's fine though i'm still happy to discuss my thoughts, that's the purpose of my posting, so that we can all learn from one another....
yup, I do base my trading on fundamentals but also equally on technicals.
in this case I thought I saw a break in the lower resistance level as it was still in short term down trend, plus for the other fundamental reasons previous mentioned I made a short entry ...... a couple of weeks later its obvious my entry was at the lower point of a longer term horizontal trend ......
the kick up has been sharp... when it turned against me, I thought I would hold waiting for another oscilation down at the first resistance level - that didn't happen, so I waited for further for another oscilation down up to the second resistance level - now that's been broken.......... so i'm current loss is about 7.5% - it's a good amount.......... and it's still moving up sharply ........
so I have currently got a sell on a bit below it's current level ...........
one point you make though is that " Fundamentals usually will take a while to flow through to price," is quite often true, so if I held on for say 6 months I might be back in positive territory ........... having a second look, at the stock I 'm not as positive about the stock, and don't know what info has caused the stock to move so quickly.....
yes you are right - probably three successive wrong decisions - its a total cock-up.
however the market generally has been moving strongly up so that has not helped short positions either.....
misty, you still haven't told me what you are on at the moment ???.
