YHOO @ 35.49 (275 shares)
at 2005-11-12 23:55:02
Took a 275 share position in YHOO @ 35.49. Now have 1275 share position at average cost of 34.32.
Sold TJX @ 21 (loss) and YHOO Stop
at 2005-11-12 23:55:02
Sold TJX @ 21 for a 560 loss. Still think it will move up in the future, but YHOO looks to good after breaking 35 and on the google news.
Place stop for YHOO @32.75, just under 33 support.
May revisit TJX on weakness.
Frustrating Rally
at 2005-11-12 23:55:02
I was almost driven into insanity today. The market was on fire with the "kick Greenspan to the curb" news, and the two stocks in my trading portfolio are down a total of 60 cents. On a positive note, YHOO fell close to what I hope is it's new support level of 35 and held up well. Hopefully we'll see some upward movement by the end of the week. I believe it could hit $38-40 sometime in Novemember or December.
Notes: SGP had a good earning report. Watch to see if it breaks out to new highs ($22.53).
Was not impressed with MRK. Consider shorting.
MSFT rose on upgrade. Consider on low volume pullback. Still think stock should get boost from XBOX 360.
Keep eye on REDF. Up over $4.00 on great earnings and hit new high.
Consider shorting Energy/Oil/Natural Gas stocks if there is a short term runup on lower than average volume.
Watch TXN.
QQQQ could breakout of a consolidation. Go
Stock Watchlist and YHOO at 2005-11-12 23:55:02
Watching the following stocks for high volume breakouts:
FLOWE: currently 8.66. buypoint at 9.
AIRM: currently 11.91 on high volume. Buypoint 12.20.
DIET: currently 5.52. Watch for low volume pullback.
PFWD: currently 10.81. cup handle buypoint at 11.
MOT: look for a pullback.
YHOO had a modest gain after testing 35 for support yesterday. Back up where I bought it.
Portfolio Update: Lesson Learned! at 2005-11-12 23:55:02
Remember all that talk about YHOO breaking it's 35 resistance level and being ready to soar? Was I right or what? It's jumped up to around 38 and still could go higher. With 1275 shares at an average cost of 34.21, that would put me up close to $5000. Now after patting me on the back for the insight, can you please hit me over the head with a hammer! I pulled out at 35.73 for a decent gain because I wanted to go with an Avian flu play that didn't really show much technically, BCRX. That stock hasn't done much, while YHOO has been on fire. I learned a great lesson from this trade. Stick with what you have conviction in due to hard work and research, rather than something exciting on CNBC.
I currently have a 1000 share position in BCRX. Bought at 13.86 and it is currently at 13.87 . . .what a gain! I'm going to sti
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