Friday, October 10, 2008

Trade: SSO and DIG

In the Trade Report last night I said I would buy if SSO dipped to $28. I had a limit order in place and was filled at $26.30 (400 shares). I sold half the position minutes ago at $28.50 and will hold onto the rest. My stop for the remaining shares is below today's low ($25).

I did the same with DIG, one of my watchlist stocks, at $26.75 and just sold half the position at $30.20. I am still holding 200 shares with my stop at entry level.

I am following the strategy outlines in the report: buy weakness, sell half the position into stength (or get stopped out for a small loss), move the stop up if short term target is hit to lock in profits or at least make the position a "break even" trade by placing stop as many points below entry as the gain was above entry.

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