Friday, February 02, 2007

Trades: USO, RIO and EWZ

I had internet problems yesterday and was not able to post the following trades:

I sold 400 shares of RIO at $34.25 (entry at $32.25) for an $800 gain (+6.2%).

I sold 500 shares of EWZ at $48.00 (entry at $46.10) for a $950 gain (+4.1%).

I sold 500 shares of USO at $48.10 (entry at $46.80) for a $650 gain (+2.7%).

I still like all three of these stocks, and the corresponding sectors, but all three are a bit extended. If I see a nice pullback to support levels, I may re-enter. I know this may be a case of overtrading, but the fact that all three are near resistance levels makes it seem at least somewhat prudent to take my profits.

I am still holding CAL (short) and BLUD (long).

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