It's evident that shipping sector is in for a rotational play and is now getting a rally. NOL started the ball rolling, followed by cosco and YZJ. I personally opened shorts at 1.58 and stop loss was set at 1.65. On another look, cosco broke out from a bollinger band squeeze.
IMO, although I could afford to lose, however mistakes like that could be costly. With today's closing, cosco has appreciated 33% since 1st Apr, I will concede that it was a bad call to short cosco. You can never go against a breakout.
No comments:
Post a Comment