SOLD -10 SKF @131.74

I’ve been stopped out of my -2.0 trailing stop placed just minutes ago this morning. $135 seems like a strong resistance for SKF. We barely broke it this morning on decent volume. Furthermore, $138 is a 50 day MA and $140 is a good round number resistance. In other words, there are a few resistances to be broken going up from here.

Having entered SKF at $104 in the new year, I am content with the gain for this trade. It has exceeded my original short term target of 120.

However, I would watch SKF and see if it breaks below 130. If it can stay above 130 today, then that’s a very good sign.

UltraShort Financials

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