Wednesday, October 13, 2010

Le Déclenchement de CB Richard Ellis Group (CBG)

Le marché boursier est tellement facile .....

Pardon me...

This stock market is so easy right now I can even trade in French.  And I don't speak French... but it's that easy.  I wrote late yesterday I had bough CB Richard Ellis (CBG) on a breakout over resistance.  I lied; my order was about 5 seconds late and I missed the close - so rather than a $19.20 entry, it was this morning's $19.40.  No problem - whatever the price you buy, you win in the Bernanke supported market.  But it cost me 1% of profit.

[click to enlarge]

Here we have a 5 week consolidation period (boxed in on the chart above); I was seeking a close over $19 and preferably a spike in volume.  No volume? No problem (nowadays)... all you need is price; volume is so 2005.

Today the stock has already hit $20... is this due to any skill?  Who knows anymore - since everything rallies.  But that was the genesis of the trade - I only now kick myself for not buying a huge position as no one loses in the market.

Long CB Richard Ellis Group in fund; no personal position

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