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The market was pretty much a wash for me today. Some buy orders kicked in and some trades were stopped out. All the trades that were stopped out, I still like the charts, so I put buy orders back on them to give them another try. My best trade so far is one position, URBN. It’s up a little over 10% since I bought it yesterday. Most of the rest of my trades are averaging about a 1% gain. There’s not big action yet, but neither has the market turned against me. I moved all my stop loss orders a little higher tonight.
Although I'm only about 40% invested at this point, I have every penny committed to trades. Some just haven't reached their trigger points yet, if they ever do.
Last night, when I was placing orders, I ran out of money. Boy do I wish I could use margin. Perhaps I should just reduce my position size.
Posted by Ted at May 28, 2004 9:18 PM