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The long trade signal at Nokia (NOK)

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Yesterday I gave a tip to buy Nokia. I didn’t had much time to explain the main reasons for that, but in fact it is totally related to diversification. As you might know, I have been advising to sell Motorola stocks, to sell short Sony and others like Nokia, but now we have came to such a level of oversold market that we need to grant our profits. If you followed those signals I gave you and if you had diversified your money on those stocks equality, you should have profit more than 10% – I did.

Now it is time to ensure that you will remain with your profits, but at the same time guaranteeing that you won’t lose any other market opportunities.

According to that, yesterday my system gave a buy signal to Nokia, off course it is based on a money management way to take profits and cover the other positions. If you are an aggressive investor, you should close the other trade at Nokia and open a long trade – 24,70 is a good price, then insert a stop loss at 23,44 and divide the take profit value into 50% for 26,66 and the other 50% at 28$. If the market conditions aren’t the best, then try to sell everything at 26,66. If you are a passive investor/trader, wait for an opportunity of a long trade at 26,20 and for now close the short trade!

It’s all for now. Protect your money with a good money management strategy. The posts are written for advice only.

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By , Financial Director and Correspondent on Jul 16th, 2008 GMT +2

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