Tuesday, November 11, 2008

Sell Stop:(MYGN)

Stopped out of (MYGN) today at $68.20 for about a 3% loss on my total position.


Not too much to say, this was a probe buy in case the rally took hold, I knew it was risky and kept a tight stop - which worked.  Probably should not have added to my position with a second buy in this climate, but I kept my risk of capital roughly the same so it didn't cost me much more.

I believe today's action effectively ends this rally, I'm back in cash and it seems the market has more work to do before we see a tradeable uptrend.

-Geoff

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