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One good trade in BHI

BHIBaker Hughes Incorporated gapped down today and met a solid support @39.20-39.30 (this support can clearly be seen on a daily chart). I bought it almost from the open. The reason was massive buying and break of premarket resistance @40.00. Long from 40.05 (stop 39.96). Closed half @41.50, another half @42.00.

Re-entered short @42.40 when it failed breaking up through 42.50 (afternoon fade). Closed the short @42.00, not believing in further price fall.

You are only as good as stocks you trade.

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