Covered remaining 25% short and going 25% long at 1297

My stop will be large on this one.. probably around 1285 because I'm trying to pick a short term bottom here..

I will add long if it goes lower to 1288-90 area..

If there appears to be a selling climax down to my second buy level of 1288-90, then I will look to get out at a little above breakeven.

Cheers!!

My previous trade management:

http://www.traders-t...howtopic=128110

http://www.traders-t...howtopic=128129

Edited by xtrader, 24 February 2011 - 04:45 AM.

Over night action seems to be bullish, touched the low and now up ~~ could be double bottomed very short term for a bouce today and tomorrow

Edited by q4wer, 24 February 2011 - 09:07 AM.

fwiw...can't back up the pattern as volume is not available...but worth keeping an eye on. The ED has reached it's target at the possible neckline...Pattern will either be a bullish consolidation or you know the rest. Personally...I hate the old H and S pattern...they are always TOO obvious....and now I'm making it more obvious.
http://stockcharts.com/c-sc/sc?s=$BKX&p=60&yr=0&mn=2&dy=21&i=p58457640353&a=89765548&r=6566.png