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Monday, July 8, 2013

BMY Practice Trade Update (7/8/13)

I went into the hospital on 7/4/13 which was a day the market was closed, and came out yesterday on 7/7/13, which was a Sunday, so the market was also closed.

Basically I missed one trading day (Friday, July 5th) and apparently missed a strong move counter to my position.  If I had closed my position before entering the hospital I would've been looking at a modest 21% GP on the trade.  As it stands I am currently looking at a loss of $91 or 8.5% since the current bid/ask sits at $1.40/$1.42.

The charts, however, show that the bounce against me was purely technical off the lower bollinger band, and things SHOULD continue in the downward direction in my favor.  And the chart...


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