Sunday, September 23, 2007
Weekend update...
I realized that I have not posted in a week and want to catch all my non-readers up to date. I did buy into WDC after finding it and had to sell BRLC for a significant loss after my stop was hit. Net-net, it has been a good month for long-term and intermediate-term trading.
WDC: I bought a half position at $22.37 on the 17th. I am still looking for my $21.75 target before adding the second half.
BRLC: Stock just could not overcome the negative news and of course, I sold right at the bottom. Literally 2 cents away, but I would rather take a loss being systematic and objective than get lucky being subjective. I did blow my initial setup and set the wrong stop loss. It was only 5 cents, but an entire percent with even larger slippage. Lesson learned...
WBD: This is another trade from earlier in the month that is continuing to perform, even with another downgrade...followed by an intiation at outperform...in short, nobody knows anything and I am going to hold. I as still only in with a half position and am waiting for ~$101.
I did find USM as a decent candidate, but it is super volatile. I may look to initiate a half position on Monday and then look for $91.15 to complete the position. This is a telecom stock, nice growth in sales, revenue, and margins(!). Debt is slighly high, but stable as is share count. Looks like earnings are accelerating! I tempt fate to say yesterday's sell-off was related to options expiration, not major selling. Another plus. The more I research, the more I like this stock.
Good times and I happy to have positions on the books before the friendly FOMC thru us longs a bone :)
For now,
Masterjaz out
WDC: I bought a half position at $22.37 on the 17th. I am still looking for my $21.75 target before adding the second half.
BRLC: Stock just could not overcome the negative news and of course, I sold right at the bottom. Literally 2 cents away, but I would rather take a loss being systematic and objective than get lucky being subjective. I did blow my initial setup and set the wrong stop loss. It was only 5 cents, but an entire percent with even larger slippage. Lesson learned...
WBD: This is another trade from earlier in the month that is continuing to perform, even with another downgrade...followed by an intiation at outperform...in short, nobody knows anything and I am going to hold. I as still only in with a half position and am waiting for ~$101.
I did find USM as a decent candidate, but it is super volatile. I may look to initiate a half position on Monday and then look for $91.15 to complete the position. This is a telecom stock, nice growth in sales, revenue, and margins(!). Debt is slighly high, but stable as is share count. Looks like earnings are accelerating! I tempt fate to say yesterday's sell-off was related to options expiration, not major selling. Another plus. The more I research, the more I like this stock.
Good times and I happy to have positions on the books before the friendly FOMC thru us longs a bone :)
For now,
Masterjaz out
# posted by Masterjaz Out @ 10:31 AM 
