Wednesday, July 22, 2009
New Position Opened July 10th, 2009
I purchased 5 shares of Berkshire Hathaway(Baby shares of course). Set my buy limit at $2750 and got a fill on July 10th. I saw what I felt would be a bullish divergence set in. So, my strategy was to buy below June's low and hope MACD would make a higher low. This was confirmed with a breakout above the July 1st high which has now formed a W pattern. We should see a pullback at some point to the top of the W for a test of support. If volume picks up in the 2930 area during that pullback and holds as support I'll add to my position.
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Looks like it will test 3150 before a retreat. It will be very telling if its able to bust through on strong volume.
You are 100% right. Nice to know another TA person is watching over this trade. Your feedback is WELCOMED here. THANKS!!!! Between the two of us, we have identified support and resistance on both a 60 minute chart and the daily chart. GOOD JOB!!
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