Monday, October 30, 2006

CSX Chart and Trades: COST and BRCM

I sold 500 shares of COST on Friday at $53.35 (entry at $51.85) for a $750 gain (2.9% gain).

I got stopped out of my BRCM short at $29.25 (short at $27.60) today for an $825 loss (5.5 percent loss) .

Railroads have been on fire of late and are just now starting to pullback. CSX (CSX Corp.) is no exception. The stock is finally starting to pullback, has a strong uptrending RSI reading and its stochastics are headed towards oversold territory. I'd enter on a bounce from the $35-36 support level, especially if the stock becomes oversold.

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