Yesterday I went long 500 shares HAL at $32.36, with a stop just under $32 and an initial target of $34.
I also shorted 400 shares of AKAM at $48.23. The stock had broke down on decent volume under the 50 day MA and had been a laggart in its sector during the recent uptrend, so I was quite confident we were looking at a broken stock. However, the stock has bounced back strong today. I've still got a little room before having to exit, as my stop is placed just above $50.
3 comments:
Hey, nice blog you have here. I just found it (referred from the Kirk Report) and like you I'm working towards trading as a primary source of income. I'm not there yet, but I keep trying. Do you show all of your trades here or is this a sampling?
-Jon
And good call on HAL today. I've been reluctant to buy it after the Dems gained control, I think they will call HAL and KBR into hearings about the Iraq contracts and price gouging.
Why did you think this was a good time to go long?
-Jon
Jon,
I have two trading accounts. One for this blog and one that I keep private. I post all the trades from the "blog account" here. One of these days I'll get around to posting a log with my performance results.
You know, it's funny you mention HAL and Democrats. I was watching for a drop on oil too. Of course, the exact opposite happened, probably because so many people were expecting it. It's always best to watch the charts than trade off expectations.
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