June 25, 2004

My Daily Market Report

Four more buy orders kicked in today and only one trade was stopped out. As of tonight, I’m up to 60% invested.

My big one today was NPO. It broke out of sort of a double-bottom base. The stock was up 13.5% on five time’s normal volume and it closed at its high for the day. Both are very positive signs. My buy order was at $20.91. I was filled at $21.00 – not too bad.

My current leaders are CLCT +10.8%, ACF +8.7%, NPO +8.1%, JILL +7.6%, and FOSL +7.1%. Although the market in general has not been particularly enthusiastic this week, I’ve managed to tally a very small profit.

Last night, I ran out of money again. Can I repeat my groan on how governmental regulations prevent me from using margin and are thus thwarting my trading ability? I’m not asking for anything special. All I want is the freedom to trade as I see fit. Is that asking too much? I wonder if I should sue the government on this. Is it legal to restrict my trading freedom?

Posted by Ted at June 25, 2004 10:06 PM
Comments

It is for your own protection that this rule is in effect. It is a good thing. This way you can not spend monies that you do not have. It like borrowing from Peter to pay Paul. Keep your investing in perpective. Love, Mother

Posted by: Mon & Dad at June 25, 2004 10:29 PM

The way I would use margin would be safe. Here’s why I’m being limited. When I place a buy order, I have no idea if it will kick in or not. But as far as Fidelity is concerned, I’ve committed that money just as much as if I had actually bought the stock. After about 30 trades, I run out of cash to commit. If I were using margin, I would not be so several restricted. In my current trading, I am missing trades I could otherwise be doing.

Posted by: Ted at June 25, 2004 10:38 PM