Another slap in the face to those who say TA is crap. Called it! :)
Sold half my position at the close today, though it's most likely going much higher. Can't hurt to lock in some profits, and the other half can keep on bringing in the dough. I'm now up well over 100% on the year on my XIN trades. Will be very interested to see what news comes out of earnings.
Sure feels nice to have made nearly a year's worth of expenses in 3 trading days. :)
Don't forget, if we hit $4, that will complete yet ANOTHER 3-year inverse head and shoulders pattern that could easily push us to $5-6. Earnings could be the catalyst. At the same time, rapid moves up always increase the chance of a pause for temporary consolidation--so the question is how long will it consolidate and at what price level. I'm thinking we'll hit $4-4.20 and pause there until earnings, then it's either up or down, largely depending on the earnings outcome and 2013 projections.
Grats again everyone, and HAHAHAHHAHAHAHAHA to you silly shorts who got burned.
I'm not sure what you were reading, but I bought in at around $7.86 or $7.68 a couple years ago and sold somewhere around $9.30, is that what you're talking about fool? I was then out for a couple years before getting back into XIN. I'm so far up on XIN it's the best performing stock I've ever had. Bet you can't say the same since you just shorted it on Friday, HAHAHAHAHAHAHA, loser.
Not sure why I bothered replying, since you are on my ignore list, but I wanted to rub your short in your face some more. Won't be entertaining any more posts though.
Yeah, I'm over that though. The pain you feel when it keeps going up after you sell for a profit is a lot less than the pain you feel when you're wrong and lose your profits. That's why I went with half--half the pain of being right and half the pain of being wrong :) Less dramatic for the senses.
BTW, I should have mentioned in my original post that the $5-6 dollar is conservative low-ball, technically speaking. A completed pattern on that second IHS technically targets around $6.25-6.40ish.