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This is a tough market in which to make money. Since I trade in my IRA account, government regulations force me to only going long on stocks. I cannot short stocks. However, I AM allowed to trade options – go figure.
I had two stop-loss orders trigger today. I sold GP at a 7% profit and RIO at a 4.5% loss. Two buy orders kicked in. I bought CMC, again, at $31.12 and KCS at $11.20. As things stand now, my CMC has a 0.4% profit and my KCS is down 1%.
It’s a little hard to tell, but it looks like my portfolio was up about ¾’s of a percent. I guess, given the current trading environment, it’s not too bad.
My IONA is sitting on an 11.7% gain and NKTR, in which I got a horrible fill yesterday, was up about 6.8% today.
Since I trade enough on Fidelity that they only charge me $8.00 per trade or $16.00 for a round trip, I figure anytime I make more than $16.00 on a trade, I’m money ahead.
Last night I put a buy order in for AMPH. It had a great breakout a couple of days ago and then fell back. I thought I saw a buy point so I put in an order at $12.25. I’m trying to learn from experience.
A couple of weeks ago, I bought ESMC. It had a very nice breakout. Then I was stopped out and I never went back to see how it was doing. Well, I missed a very nice move that I think I could have net a 50% or better profit on. I’d like to not make that mistake again.
Posted by Ted at March 5, 2004 7:49 PM