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Cache Logistics Trust: Gap closed at 96c.

Monday, August 29, 2011

The unit price of Cache Logistics Trust closed the gap at 96c in the last session.  A white candle with an extremely long upper wick was formed, suggesting strong selling pressure at 96c. 96c is also where we find the flatlined 50dMA which should also act as resistance.

I decided last Friday to put in a sell order over the weekend at 96c for a partial divestment in case gap resistance should be retested today. My sell order at 96c was filled this morning and I made some pocket money.

For people who believe in mini double bottoms, we could see the unit price test $1 if 96c should be taken out convincingly. I would divest more then. Otherwise, we could see unit price retreat to test recent lows once more and that is at 91.5c, my entry price months ago.

I will also be collecting income distribution from the REIT today. So, this is a nice combination of investing for income and capital gains. Regular readers would know that I am not averse to trading my investments in REITs from time to time.

Related posts:
Cache Logistics Trust: Initiated long position at 91.5c.


beary said...

huat ah ak!!!

AK71 said...

Hi beary,

Hardly, I think. Not as if I sold 100 lots. Ha ha.. ;)

INVS 2.0 said...

Hi AK71,

Buying at support and selling at resistance can double our capital earnings in the long run, as compared to the traditional buy & hold practice?

AK71 said...

Hi INVS 2.0,

I will say that if a person is very good at reading charts, he could grow his wealth quite quickly.

If he were to make 5% with each trade, he could double his capital with 20 trades, for example. You know, I have yet to meet someone like this. ;)

As for buying and holding, it has come under some fire in recent times. In fact, there is probably even some amount of disdain for it. I will say that it is hard to find companies which we can buy and hold forever.

I am a pragmatist and there is probably a time to buy and a time to sell. Probably. ;)

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