Thursday, February 08, 2007

Trade Update: Sold RVBD @ $31.50

Here is the reason why I bought this stock.

This momentum trade did not follow thru. When it started to breakout of the current price base, I thought that it was already an indication of a blowout earnings...which it did but then they got greedy and announced secondary offering. WTF???

Trade Details

Bought @ $34.39 on 2/05/2007
Sold @ $31.50 on 2/08/2007 for a loss of $2.89 on every share I traded. A 8% loss on the trade.

3 comments:

Phileo said...

Hi Pinoy,

Sorry to hear about the loss on RVBD, the mgmt are evil bile for pulling a stunt like that. If it's any consolation, I had an open position on MIKR when they suddenly decided to announce (bad) earnings - during the trading session, and without any prior warning !

Anonymous said...

Too bad. RVBD looked ready to rock and roll. Might need some time to base out and rebuild. But nice job on your day trades today.

Alex G.

mc said...

@phileo, that's the risk we face everyday. But it helps to vent once in a while.

@Alex G., thanks man those daily day trade P/L creates additional buying power....but It has always been my belief/experience that serious money comes from riding big trends.