Secured the last profit for the year 2016 with $9600 in Genting SP. Shorted @ 0.975 and covered @ 0.915 for a good swing trade. The stock back last month rose after some good news, from 0.75 to 1.03 was also propelled by good results and some dividends issued. Click below to read my earlier Genting Short Sell posts.
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During the time when shorted, Genting experienced some profit taking combined with distribution which was textbook stuff and the answer to the trade was short. As the stock continued to tank, reaching the price where it is now, it's currently forming a base which might breakout and hence secured some profits first before it's all gone again. It's time to rotate another stock for swing trading again. If you are interested to find out more about short term trading, click the below button and register for my workshop next Thursday.
Ronald K - Market Psychologist - A Stock Market Opportunist