Friday, September 5, 2008

Friday w/ Sogo

Short:
LIZ @ 17.23.
Last: 17.03
Difference: -0.20
Percent G/L: +1.16
Percent of Account: ~18.9

Long:
RIMM @ 106.85
Last: 106.95
Difference: +0.10
Percent G/L: +0.09
Percent of Account: ~17.8

Account Percent G/L: ~+0.24

I did both of these trades in the last 10 minutes. I had not wanted to trade today because I didn't feel very well in the morning. But, I saw that the commission was free, and that both LIZ and RIMM looks in decent positions for action. I'm a little unsure about RIMM at the moment; I thought the daily high was 109 or so, but it doesn't look like it was there for very long at all. In any case, RIMM dropped off very fast and I'm expecting a little rebound: hopefully I'll get to put my candlestick knowledge to the test (Morning star anyone?). Of course, I'm not expecting it to go above it's 200 day at about 115. I'll sell and short around there.

As for LIZ. Looks like a bearish hammer formed, and I still hold a slight vendetta with this stock. In any case, looks like it has stopped reaching up (hopefully not just because of the crappy market overall), and has started reaching down. I'm looking for a 10% gain or so, but who knows. This thing could fly all the way back to 20 for all I know (highly unlikely and showing strong resistance at ~17).

Good luck, good trading, and make sure you understand the risk involved before entering any position.
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