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Monday, October 18, 2010

HIG contemplation

I am really confused about holding onto the HIG position.  The upside down head and shoulder pattern in the daily chart appears to be holding with support found at the neckline.  At the same time, some of my trusted indicators are not confirming a continuation in the uptrend (although I suspect it will hold).  The position is holding about a 30% gain so far. I am thinking about closing the position and taking the gain and minimize my stress level (there is something to be said about that).  Bid is around 2.97 at this time.

Update:  Closed out the HIG position even though the long term profit potential is high.  Will continue to monitor and reenter as appropriate.

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