Friday, December 14, 2007
Start Selling NMX
NMX has been moving up over the past weeks despite the turmoil in the broad markets. Now though, it is nearing resistance levels meaning that its time to start selling your position. As some background, I recommended buying this stock around 121 and down to 118 because the stock seemed to be in a channel and was likely to move up. This proved to be true, as the stock is currently right around 129 bucks, making this position a very successful trade. I'd take a bit off here before the weekend and look to take the rest off next week into strength.
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