Paper trade of NOL

Shorting NOL on the market opening of Tuesday, 5th August 2008
Filled at $2.63.
Covering back on market opening of Thursday, 7th August 2008
Filled at $2.64.
Percentage Loss with commission at -0.68%

Got whipsawed. The feeling of being whipsawed is horrendous. Especially, when NOL tanks immediately after opening.

NOL on 7th August 2008



NOL on 5th August 2008

Chart with regularity

I spotted NOL forming a nice channel. Currently it's very near the channel resistance and this is a good opportunity to go short. Furthermore, the intermediate trend is down since it has been forming a lower high and a lower low. This chart is very similar to the chart of Cosco Corp too.

NOL: