Monday, July 27, 2009

Trade: Sold Portions of GFA & MICC

Over the last couple of trading days we've sold roughly 30-40% of our holdings in both Gafisa (GFA) and Millicom (MICC). Both stocks have risen substantially in the last week and at the times of selling they both were more then 25% above the 20EMA. That's usually a good sign of being overbought on the short term. Typically signally a sideways or downward movement next.

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