Friday, January 11, 2008

Swing Trade: Origin Agritech Limited (NASDAQ:SEED)


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I mentioned some possible trades yesterday, and gave out specific entry and stop loss points.
Well, just as I expected, the Agribusiness sector bounced today, and all of my picks triggered as of this posting (726am PST), with the exception of TNH.
I have chosen only one of them, just because I want to keep a tight control on risk exposure for now, until I get more confidence with swinging the Aggies.

Origin Agritech Limited (NASDAQ:SEED) had the prettiest breakout of the 5 that I picked, plus I think it has a good chance of performing the best out of the bunch, so I bought SEED: buystop@9.30, initial stoploss@8.44.
I am moving my stop up to 8.72.


Tyro said...

I was spooked by the sharp run up from $7 to $11. Instead I got suckered into a long trade in CF which is in some sort of directionless death-chop and dang, look at where SEED is now! Congrats on the hugely profitable trade - hope you got some good shares on this one.

Phileo said...

Hey Tyro,

Thanks. 500 shares was all that I could afford to risk, since I knew that it could just as easily have hit my stop before running.
Now if only I can find more stocks like SEED......