Friday, February 09, 2007

Today's Trades: NCTY, CHIC and STLD

I was stopped out of the remaining 250 shares of NCTY at $36.15 for no gain. The total gain on the 500 share trade was $275.

I bought 500 more shares of STLD at $37.87. I am currently in for 1000 shares of the stock, with the other 500 shares entered in at $38.45. I like the orderly pullback, and have a stop placed around $36.

I went short 400 shares of CHIC at $30.30. This stock caught my eye as a potential short when it broke down late January. I like the "bearish flag" pattern and failure to mount the 50 day MA.
I will most likely place a stop just above the 50 day MA, at about $31.15.

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