What a freakin’ relief. MON posted monster earnings this morning, and the future of this ag company looks bright. I bought 400 shares yesterday at $110.22 and the stock is currently trading above $119. I sold half my position at $119.10 for a $1776 gain (+8.0%). I am going to let the remaining 200 shares “ride”, and may even purchase more on a pullback to the $115 breakout point.
While I am happy about how this trade worked out, it still goes into my journal as a mistake. Gaming earnings is just too risky of an endeavour. We are talking high risk, high reward, and I prefer low risk, medium to moderately high reward.
As I posted in comments earlier today, I bought 50 shares of BIDU at $370.52. The stock has pulled back close to the 50 day moving average and seems to be acting well. Historically, this is a good place to enter the chinese internet play.