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[Previous entry: "BRKS Let the profits run for a 9.9% gain"] [Main Index] [Next entry: "PD Removing from watchlist"]
02/11/2004 Archived Entry: "FDX Closing 2nd half for $5.15 gain"
click here for FDX2 chart
2/10 On 12/17 we went short FDX @ $72.80. We closed half of the position 1/9 @ $65.04 for +$7.76. We closed the 2nd half 2/9 @ $67.65 for a $5.15 gain (+7%). We took the cross of 3x3 on daily after FDX supported for the 2nd time at the monthly L3 of 64.68 and broke a shorter term L3 at 67.00. This was a judgement call--the cautious trader would take this exit while longer term traders could risk giving more back by using the previous swing high at 70.37 as a stop-loss.
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