Man, I'm kicking myself for getting rid of QID yesterday! Stupid, stupid, stupid! I hate myself right now. I should have let the trade play out until it hit my target or stop. Micro-managing at its worst.
I'm holding on to most of my positions right now, and actually made a few buys. I bought 50 more GS at $208.16 and 300 STLD at $37.55. I also bought 300 shares of VLO at $58.04 and 200 shares of EWZ at $46.55. For now I am holding on to RL.
Note that I am using smaller position sizes. The prudent move right now is to wait this thing out, so if you're going to buy, be very careful. I'm not giving myself much rope on these trades and will clear out my positions if they fall much further.
It will take some time to see whether this is just a hiccup or a new trend. If we get a weak bounce or more weakness in the coming days, it will be a sign to get ready to short.
Showing posts with label GS. Show all posts
Showing posts with label GS. Show all posts
Tuesday, February 27, 2007
Today's Trades, Watchlist
I sold all 600 shares of QID at $50.61 (entry at $49.85) for a $456 gain (+1.5%). I exited before hitting my target price. I'm worried that the recent strength in semis could lead to an upward breakout in the Nasdaq.
I bought 100 shares of GS at $214.45. It can be nerve racking buying hard dips in financials. However, this stock, and sector, has persevered through every dip over the past 6 months. I looked at many of the major financial stocks, and of course, GS is the cream of the crop. While all have been buys off dips, only GS has consistently held up at the 20 day MA (mid Bollinger Band). This is a sign of a strong stock in a mean uptrend.
Watchlist Notes:
FFIV: pb 76-77, stop 75
NTEL: overbought. short strength?
AKAM: pb to 50 MA
SSRI: buy pb to 20 MA
AL: HTF
RYI: HTF after BO
VLO: buy pb to 57
EWZ: buy pb to 20 Ma
This watchlist is merely a list of stocks to watch. It is not a buy recommendation. Even if a stock meets parameters listed, other factors may cause me not to trade the stock. For example, a high volume decline to buy target, rather than a low volume pullback.
abbrevations:
pb=pullback
HTF=high tight flag formation
BO=breakout
MA=moving average
I bought 100 shares of GS at $214.45. It can be nerve racking buying hard dips in financials. However, this stock, and sector, has persevered through every dip over the past 6 months. I looked at many of the major financial stocks, and of course, GS is the cream of the crop. While all have been buys off dips, only GS has consistently held up at the 20 day MA (mid Bollinger Band). This is a sign of a strong stock in a mean uptrend.
Watchlist Notes:
FFIV: pb 76-77, stop 75
NTEL: overbought. short strength?
AKAM: pb to 50 MA
SSRI: buy pb to 20 MA
AL: HTF
RYI: HTF after BO
VLO: buy pb to 57
EWZ: buy pb to 20 Ma
This watchlist is merely a list of stocks to watch. It is not a buy recommendation. Even if a stock meets parameters listed, other factors may cause me not to trade the stock. For example, a high volume decline to buy target, rather than a low volume pullback.
abbrevations:
pb=pullback
HTF=high tight flag formation
BO=breakout
MA=moving average
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