Placing order on Monday to establish position on Chinese diesel engine manufacturer CYD. Been waiting for some time to get a signal on this one and it came yesterday; however, the funky market yesterday kept me out of it. Today, well today I just plumb forgot about it - a big mistake since it ran over 4% today alone! My momentum indicators have this as a solid long on the daily charts. It is getting ready to trigger on the weekly charts but is not quite ready. Monthly chart is not too far behind. I will enter with this 1/3rd position and hold until the weekly chart fires at which time I will establish another 1/3rd position. Then final 1/3rd will be entered on the Monthly fire. I will feel free to trade around positions as profit levels come and go. I look forward to holding this one for quite some time (trading around core positions all the while). However, I will not hesitate to cut its throat and toss it under the bus if I experience a 25% draw down on my initial position.
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