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Monday 28 October 2013

Sell Merck @ 45.5- lost

Sell Merck @ 45.5 or 46.0 (stronger resistance) if it stays below, for 30 minutes expiration
2nd possible resistance
Risk: oversold

Result: lost
Unfortunately, Merck expired @ 45.48 at 10:30am EDT, slightly above the price 45.465 after we issued signal
A better time would be selling @ 45.48 at 10:30am for 11am EDT expiration @ 45.31

Although we were correct about 45.5 being resistance, price spiked for a few minutes & resulted in a loss
It also stayed below 45.5 for the rest of the day, which confirms that 45.5 is a strong resistance, next resistance @ 45.4 but it kept hitting 45.4 which is too close & not safe to trade






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