Again I have not traded again today. It’s difficult for me somtimes as I work full time as well as trying to trade when I get the time. There is one stock that I will have my eye on over the next few days and that is Dimension Data. The stock has been uptrending and has just made recent highs of around 88p. It has just made a break out of a consolidation zone however this could turn out to bea false break out. I suspect this stock will fall back over the coming days which could prove to be a useful time to enter and enjoy some of the upward trend if it continues. I’ll keep you updated with how the stock progresses later in the week

There has been no action at all today in any of my accounts. Alot of my stocks have droppeed today. I will need to watch the markets closely over the coming days as the S&P has just about reached it’s 2/3 retracement from it’s drop which started at the end of Janurary. This means that the S&P will either drop back to below its recent low of 1044 or it will go through the 1115 (2/3 of the retracement) and carry on upwards. Only the markets can decide this. If the S&P starts to drop sharply over the coming days you can almost be certain the FTSE will do the same. If the S&P Drops it could be time to head for the exits.

Disclaimer: Don’t take my posting of these trades as a recommendation that you should make the same trades!

February 23, 2010 by Harry
Category: blog