Thursday, February 08, 2007

Selling Cap One on technicals

Liked the look of this post, http://tradertim.blogspot.com/2007/02/chunda-from-down-unda.html, so shorted £5/cent of Capital One, with the stock trading around 82.50.
 
Don't usually trade on technicals, but I'm going to try a few trades based purely on charts and see how it goes.
 
Plus I think financial stocks are vulnerable to a severe and lasting earnings downturn.

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