I used today's weakness to take some small positions in stocks from my primary watchlist:
I bought 200 shares of TBSI at $37.34
I bought 200 shares of OII at $71.25
I bought 200 shares of FWLT at $125.75
I bought 200 shares of AGU at $48.75
I bought 100 shares of GRMN at $105.50.
A reader asked me where I placed my stops for UA and SWHC. UA is under the 50 day moving average ($60), while SWHC is around $18.75.
I will most likely trim some existing positions today. I am mostly long momentum stocks right now, which could be risky going into the Fed meeting.
4 comments:
Thanks for the stop information on UA and SWHC, I think those are solid.
Have to disagree with you on GRMN. It's actually one of my biggest short positions.
The chart is showing it running out of steam a la CROX. In addition they are catching some flak (article in WSJ over the weekend) as competition from cell phone GPS applications is threatening to erode their margins and threaten their growth prospects.
I think you were wise to just get 100 shares, we'll see what happens...
Couldn't agree with you more on trimming some positions today. Good thing to do with longs and shorts, as the market will be all over the place tomorrow.
TC - The Critic
Oops, forgot to mention my favorite long today.
Check out FCSX, buy point around 48.3.
TC
You are a brave man to be placing sizeable bets ahead of a random event that could move the market +/- 300 pts , and no one knows which way :)
Good luck!
did you see the coals I mentioned Friday? Still strong
CNX, BTU, ACI... prefer them in that order
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