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Six more buy orders kicked in today and I had two trades stopped out. I’m now about 63% invested with every penny committed to pending trades. POSS was my big gainer today. It was up 13.8%. I had a standing buy order on that stock and I got on board at $29.60. My current leaders are SHFL +12.9%, URBN +12.6%, OSG +11.5%, CLCT +10.3%, and POSS +8.2%. As of tonight, I’m up about 3% from my plunge into the market May 27th.
I have placed stop loss orders on all six new trades and moved up my stops on all existing trades.
Boy do I wish I could be using margin right now. I’d be putting on even more trades. Each trade is about 2.6% of my total equity. As I make gains in the market, my trades get bigger. If I suffer setbacks, my trades grow proportionally smaller.
Posted by Ted at June 7, 2004 9:16 PM