Thursday, August 5, 2010

SOLD NGD @ $5.29

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This is New Gold Inc (NGD).   I bought shares of this some time ago @ $5.10, and then more shares several days ago at $5.02.  This sale for $5.29 sold ALL of my shares.
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A couple of things concerned me and prompted me to sell.  First, I was not pleased to see the divergence show up today on the 60 minute chart.  And price now is right up against the 200 hour moving average and unlikely - with the divergence - to get too much higher. The risk of price falling in the days ahead outweighed my decision to stay with the trade.
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My TSI trading record has been updated.
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Click on the chart to ENLARGE

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