Wednesday, February 07, 2007

Trade Update: NCTY and STLD

I bought 400 shares of STLD at $38.45. I've been waiting for a nice pullback in this stock, and we've finally got one. Not as far as I'd like, but we're dealing with a very hot sector, so I was willing to enter with more downside risk than normal. Since I don't know how far it will pullback, I may set a wider stop than normal.

I sold half my position in NCTY at $37.25 (entry at $36.15 yesterday) for a $275 gain. For the remaining 250 shares, I've moved my stop up to lock in the gain and let the rest ride.

No comments: