Tuesday, March 11, 2008

Exite Trade Updates

CPLA: On Thursday, I went short 400 shares of CPLA at $55.68 based on a pullback from breakdown in its downtrend. I covered 150 shares on Friday at $52.66and another 150 today at $51.85 for a $1029 gain (+6.1%). I am still short 100 shares.

AKS: On Thursday I bought 300 shares of AKS at $54.64. I was stopped out today at $51.95 for a $807 loss (-4.9%). Looking back, this trade was a bad one. I was trying too hard to get into the steel move. The pullback I bought into wasn't the classic low volume pullback that I normally look for.

DECK: I went short 250 shares of DECK at $107.35. On February 20th I had bought 100 shares at $118.20, which I was still holding. I covered my entire short position Friday and today at an average price of $94.23, giving me a $5677 gain.

I hope to have updates on my trade entries later today.

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