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At lunchtime, my portfolio was up a little over 1%. By the end of the day, I was back to even. Three of my stops triggered selling ACH, CMC, and FBST. I lost about 3% on two of these trades and broke even on FBST. ELN and EPEX saved me today. ELN was up almost 13% and EPEX was up 5.75%. My TIE was up substantially at lunch, but finished the day down over 2%. I still have a 40% profit in TIE and will likely be putting a tight stop on it.
My new strategy of tight stops seems to be working better for me. It’s getting me out of losing trades quicker and I’m taking small profits and running.
My stop sold ESMC at a 25% profit last week. Then I went back in yesterday and put another buy order in at $10.60. It did not trigger.
I’m getting a little frustrated with Fidelity in tracking what’s going on with my account. I currently have about 20 or 30 positions or pending trades and I find myself missing some important items.
I went into Fidelity and downloaded their Active Trader Pro. It looks like it might be some help. I’ll see.
A reading of IBD online is not very encouraging. The tone was subdued.
Posted by Ted at February 19, 2004 7:52 PM