Friday, March 02, 2007

Today's Trades: VLO and QID

I sold 300 shares of VLO at $57.90 (entry at $56.90) for a $300 gain (+1.7%). I still like the stock, but in this market enviroment I'm going with shorter hold times and quick profits. I reserve the right to re-enter.

I bought another 500 shares of QID at $55.25. I wanted to enter this morning when the stock was trading around $55.65, but decided to place a limit order at $55.25. My thinking was that the bulls would mount a push that would likely fail. Luckily we had some weakness (or strength in the Q's), and I got in at $55.25.

So currently, my only position is 1000 shares of QID (2X short QQQQ).

No comments: