Thursday, November 5, 2009

Cosco is the first stock to break below 200-day MA - a bearish signal

Cosco became the first stock to break below the 200-day MA line, a confirmed sign of a change in trend. It could be the leader for the rest to follow it on the way down. I am looking to short once there is a retracement nearer to the 200-day MA line.

My plan:

Short near 200-day MA. :(1.05-1.09) when stochastics turning down.
Support: 0.67, 0.92


But, just wait for now.

No comments: