Today’s Trade – AXP Short 4/27/2009

Date:  4/27/2009

Symbol:  AXP

Shares: -200

Cost                         Short         Cover        Cost

“$5040.00″        $25.20    $16.88    “$4820.00″

Profit        Profit %

$220.00    4.56%

“Saw that AXP went up over 20% in overnight trading and thought that there should be a nice retracement.  Calculated it to be at around $24.00.  Put in a short order with a decent sized stop at $25.71.  Although I came close to being stopped out my prediction came true the following day.  In order to find the day’s bottom I used trend based analysis combined with MACD indicators.  I could maximize profits by increasing my position when my trends are clearly defined and comfirmed.”

AXP Short 4/27/2009