Friday, February 09, 2007

Trade Update: Sold MA @ $116.75

***edit 4:37pm***

I had to pull out this post this morning after someone allerted me that somebody has been posting messages in YAHOO messageboard claiming ownership of this blog...what a world we are living

***edit 2/12/07 3:00am***
Here is the reason why I bought this stock.

I closed this position when after it announced earnings, the pre-market trades started to slide after hitting $121 on heavy volume.

Trade Details:

Initial buy @ $105.50 on 1/22/2007 and another load @ $110 on 1/24/2007.
Closed position @ $116.75 on 2/09/2007 for a gain of $11.25 for each shares I traded on my initial buy and $6.75 for each share on my second buy.

7 comments:

Tyro said...

I was wondering why MA dropped so much. It must have been triggered by you selling :)

For all the Internet weirdos, I don't think anyone will ask too many questions about your exit.

mc said...

I tried selling it at the open but my order got filled a good $1.25 later...from what I hear it was you, Bubs and Phileo who caused all the selling.

It was a lucky escape for me though.

Anonymous said...

All momo stocks have a beginning, a middle and an end. I guess its the end for the momo's that folks have been trading for the last 6 months. Its now time for their end. The best way to make some cash on them now is on the short. Im shorting next week.

These stocks come down much quicker then they go up.

Anonymous said...

Don't let the imposter put you off from blogging. Some people have nothing better to do than put other people down or exploiting them.

Have a question though. With regards to your MA trade, your order to get out, was it a market order or limit order? The slippage is large. Thanks

Tom

mc said...

Tom,

Thanks Tom!

I always use market order...my order was triggered right at the open...may there are no takers/buyers.

I have learned to accept slippages as integral part of my trading

Anon,

I did short some stocks yesterday..for position trades, I still have to do my study before I can comment on that

onebadtrade said...

Tyro, MC, Phileo,

Can you guys give me a heads up when you are done unloading your positions. Playing the market from long side is dangerous when you guys are lightening your portfolios.

mc said...

Or we can all blame Ugly's ATS for the selloff.