Wednesday, April 25, 2007

Update STKL Buy, JSDA Cover


Purchased additional shares of Sunopta Inc. today at $12.55. I pulled the trigger prior to the conformation today, nonetheless STKL's stick sandwich formation was confirmed with the formation of a high volume long white candle stick and subsequent fresh 52-week high at $13.11. I am most certainly looking forward to Q1 earnings in early May.


Covered my short position at $25.85 today for a 10.92% gain. I don't really have any concrete rational for covering. The chart still looks terrible and JSDA is still totally overbought. I guess I will use to old tried and true cliche, "A gain isn't a gain until you close the position." Going forward I will short additional tests of $29, since resistance is firmly entrenched at that level.

1 comment:

Woodshedder said...

Nice trade on jsda.

I'm still thinking any day now STKL will soar.

This low volume consolidation has got to be giving the shorts the fits.