I have mixed feelings about Disney. I imagine I am not alone. As a consumer and particularly as a parent, I have to admit their content is amazing. Who doesn’t love Toy Story? My youngest grew up on Frozen. You have to have a heart of stone not to enjoy a day at Disneyland. The list things to love coming out of that studio is virtually endless. Trouble is, they seem to be buying up the whole entertainment industry. They own Star Wars, for goodness sake. That’s…creepy? Worrying? I don’t know. I try not to think about it too much. After all, I certainly have no influence over it, and there’s no point fretting over things outside our control. Whatever my feelings about a company though, I put them all to one side when they turn up on my watchlist. Here’s what Disney’s chart did when it arrived on my list:
This is not the kind of slide we find in Disney’s theme parks. It was a good one to trade though.
The setup was textbook, and once we got below the blue line properly, we were off to the races. Keen-eyed observers, and those who also took the trade, will have noticed that the price popped back up just after the entry. My finger hovered over the Buy button to cover my position at break even (plus a couple of cents to cover commissions), but the weakness was plain to see and in the end it couldn’t make it back up to turn the trade into a loss.
The exit was on the bounce of course. There was more to be had from an earlier exit, but having held off at the start, I was minded to hold off at the end. Perhaps for too long. Still, I had a target either way, and took more than a thousand dollars profit when I did eventually kill the trade bang on target. That will pay for a few more Disney DVDs (yes, I’m old-school enough to still buy DVDs every now and then!)