I covered my entire 800 share MS short, half yesterday at $63.05 and half today at my target, $60.10 (average entry price was $65.89). That comes out to a $3455 gain (+6.4%).
I have not unloaded CROX yet, despite currenly being about 5 points down (-$2000). I’ve decided to use a very loose stop, just under the 50 day moving average. The potential loss is bigger than originally calculated, making for a crummy reward to risk ratio. I rarely make this kind of move, but there is strong support at the new stop level.
I bought 150 shares of AAPL at $121.75. Technically, the stock looks broken. However, take a look at the price by volume bars on the chart. There is a lot of support here, so I expect a bounce.
I bought 200 shares of NOV at $109.64. The stock i still holding at the moving average, and again there is a lot of support at this level.
hi singh>>My take on the AAPL purchase is not very positive, I see a broken chart with no immediate support unless we close above todays high.However I have to agree with you on NOV ,it looks like a good entry to me.>>ron
hi singh>>I have taken a position in BOOM @44.70.Whats your take on it?Thanks>>ron
Ron,>I already sold my AAPL postion at $125.84. I was just looking for a short term bounce. There was too much support for the stock to breakdown without one. >>BOOM is on my primary watchlist. In fact, when I made my ZUMZ post last night, I almost added BOOM. It’s always risky entering a stock that’s down 4 percent, but it hasnt’ broke down below the breakout point yet, so that’s good. Lots of support at $44 (breakout and price by volume), so I’d place my stop under that level.
singh>>I got stopped out of BOOM. I will be a buyer again in the low$41 range.My mistake was , yesterday I watched the stock all day,and despite market weakness, it was extremely strong,thats why I took a position today.On another note I did enter long in GRMN @98.55. Is that one on your screen.Thanks>>ron
You <>MUST<> pay attention when something is so <>extremely volatile<>! Bush’s people are on board this stock, if you < HREF="http://stockology.blogspot.com/2007/08/focus-on-long-term-prospective.html" REL="nofollow">follow the link<> on paragraph 4. Is the neocons responsible for this?>> <>SWC<> is incredibly volatile! Hammered down half from the $16.47 high in just three months, Bottomed at the <>$8.03<> on this Tudesday before the earnings conference call, immediately rallied HUGE next day to high of <>$11.04<> and settle for a 20% gain at $10.40, flat on thursday, Rallied Friday moring to high of $10.84 and then plummeted to the low of $8.38!!! Such a stock with extremely narrow floats traded on huge volume and huge swings up and down. I bet < HREF="http://finance.yahoo.com/q/bc?s=SWC&t=5d" REL="nofollow">you never saw anything like that<>!!!>> <>It’s a swing trader’s PARADISE<>! I would guess most day traders would LOVE to see such volatility. Such huge daily swing creates huge profit potentials if you can do it right.>> This is an incredible stock worth paying attention to. Spend your weekend < HREF="http://stockology.blogspot.com/2007/08/focus-on-long-term-prospective.html" REL="nofollow">study it<>. Maybe you can swing trade and get a quick 20% out of it in one day! And tell people about this interesting stock.