Tuesday, August 11, 2009

Trade 51 - MCW

Lining up my balls for a shellacking if the market decides to fall - luckily I still have a good proportion of capital in cash.

Reasons for MCW
1/ Broker reports on REITs are getting bullish, hoping for the extended V rally - I've been taking this view for last few weeks, but as the market catches on, I think I need to add more exposure to the trend.
2/ MCW in a nice uptrend, with easy stop loss exit 46c, target 60c minimum, 2 to 1
3/ MACD is rising - diverging downtrend
4/ Divvie coming up next week, some buyers may want to try to scalp the 3c