I could be making phantom shapes up but it appears to be forming a descending triangle, from which it will either break out or break down from. That, combined with its "hovering" near the 50 day without making a decision has me cutting back the majority of the position (yet again) until it makes up its mind. I've sold about 85% of the position in the $43.20s.
At this point I don't see myself adding back unless there is a clean break north of $46, and I'll probably close out the position completely below $42.
EDIT 12:15 PM - with the reversal in the market, PWRD fell below $42 so I have closed the position completely as mentioned above.
EDIT 12:15 PM - with the reversal in the market, PWRD fell below $42 so I have closed the position completely as mentioned above.
Long Perfect World in fund; no personal position