Saturday, October 10, 2009

Tim Sykes' CHIP trade, Sept 24, 2009

Here is a long play on CHIP which turned to be a loss. With the benefit of hindsight, it's hard to see the rationale for this as a short-range speculative trade. According to the chart, the speculative train is already gone by the time the trade is placed. Tim's site reports no trades in this stock during its strongest advance the week before. Technically, this looks like as a beginning of a flag formation.

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