Saturday, June 7, 2008

Back in Hanfeng

I've talked about Hanfeng on several occasions in the past so I won't tell its story again. I'll just say that I now have a new position in the stock.

I was banking on it bouncing off of its short-term support level yesterday (as shown in the 1-year chart below) but it of course, had to keep going down.

That's one of the downfalls of setting target buy prices for stocks when you don't have access to your trading account and want to make short-term trades. Sometimes, they work and sometimes they don't. Oh well, HF is a well-positioned company so I'm not concerned for the time being.

HF-T ended the day yesterday at $10.99 (-4.43%).

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