Monday, February 07, 2005
Still managed a gain for the day
When I checked my portfolio around noon, I was up nearly $4,000, but by the end of the day, the gain was only $1,500. Oh well, still not bad considering the markets were down a bit today. I noticed that SINA was down over 20 percent after the market close on really lousy guidance that it released along with its earnings report. Ahh..the memories. SINA was both the best trade and the worst trade that I ever made. I bought 1,000 SINA shares way back in 2001 for about $1.50 per share (when the shares were trading below their cash value!). That was the best trade I ever made. However, I sold most of my shares at around $7. That was the worse trading decision I ever made. However, all was not lost: I did keep 200 souvenir shares that I eventually sold for about $45 right before they peaked. I reckon I sold my shares to this guy.
# posted by Stockcoach @ 8:46 PM 
Comments:
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Congrats on another good day!! I did okay today. I am putting most of my money on ET and PFE for now. I am shorting RNWK (Real Networks). See how that goes. Didnt think it justified a 20% increase in a day but we'll see. I put a STOP on it just in case.
I am just learning about trailing STOPS. E*Trade Pro has that now and I think I'll start using these trailing STOP orders.
Had a question on this article on 10 top stocks to buy.
http://biz.yahoo.com/special/highest05.html
Hey, why would they recommend XRTX? I look at the earnings growth on Yahoo Finance and it is -3534.80%. Am I missing something here?
I am fortunate I didnt buy SINA. I was very close to buying it this morning. Something stopped me because of something I read. Now I forgot.. hmm.. I should really pay more attention to my trading habits.
Okay, if you find another good one that rockets up like SINA, be sure to let us know here after you buy. :)
Scott
I am just learning about trailing STOPS. E*Trade Pro has that now and I think I'll start using these trailing STOP orders.
Had a question on this article on 10 top stocks to buy.
http://biz.yahoo.com/special/highest05.html
Hey, why would they recommend XRTX? I look at the earnings growth on Yahoo Finance and it is -3534.80%. Am I missing something here?
I am fortunate I didnt buy SINA. I was very close to buying it this morning. Something stopped me because of something I read. Now I forgot.. hmm.. I should really pay more attention to my trading habits.
Okay, if you find another good one that rockets up like SINA, be sure to let us know here after you buy. :)
Scott
# posted by 
: 4:01 AM, February 08, 2005
: 4:01 AM, February 08, 2005
Man.. talk about bad timing. I make the right trades but I always drop the ball too damn quick. Sold or covered too quick. These all happened last several days.
Shorted:
ASIA (4.83) and covered at (4.78) but now at 4.63
RNWK (6.78) and covered at (6.70) but now at 6.68
Bought:
PRFT (7.11) and sold at (7.20) but now at 7.31
ET (13.03) and sold at (13.24) but now at 13.54
Scott
Shorted:
ASIA (4.83) and covered at (4.78) but now at 4.63
RNWK (6.78) and covered at (6.70) but now at 6.68
Bought:
PRFT (7.11) and sold at (7.20) but now at 7.31
ET (13.03) and sold at (13.24) but now at 13.54
Scott
# posted by : 7:29 PM, February 08, 2005
: 7:29 PM, February 08, 2005
Ahh, don't worry out about it: calling tops and bottoms is impossible. The best strategy is to identify a good buy point and a good sell point, and stick with them. I suggest, however, you let your stocks run a bit more, or otherwise you'll end up trading so much that at the end of the day, only your broker will be happy.
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