I've entered a short on Capital One (COF) to substitute my accidental exit on VNO today. On a closer comparison of the two, COF seems to be more overbought than VNO.
We're in a rangebound day again in the market, but we actually spent most of the time in the lower range of the channel. This could be a good sign or it could be another bear trap.
Reward / Risk = 4.10 / 0.70 = 5.85
[caption id="attachment_1672" align="aligncenter" width="500" caption="Capital One Financial"][/caption]
[caption id="attachment_1673" align="aligncenter" width="500" caption="Capital One Financial"][/caption]
: http://traderpau.files.wordpress.com/2009/08/2009-08-06-cof.png : http://traderpau.files.wordpress.com/2009/08/2009-08-06-cof_prop.png