Friday, September 12, 2008

Wrap up for the week

Even though I'm down about 3% for this week and last Friday, I'm pleased. At one point I was down 7%+ and I managed to quell my fear and trust the charts. Besides buying EGLE, XLF, and even RIMM at slightly inflated prices, the only thing I really regret is not covering PCH for a 5% gain. I could have transfered the money over to something else: mu, nem, abx, smh. And all because I wanted to wait for just a little more. If I had noticed it was running into the 10 or 20 day MA sooner I would've covered, gotten out, and taken up another position and opportunity. Lost opportunity is often lost money.

Next week I plan on selling RIMM. And while I have said that several times this week I really need to get it out of my portfolio before it releases earnings. The CEO is confident, but I'm worried about the shareholders. Until then, I do expect a rally. Perhaps a 5-10% gain for me.

I'd also like to get rid of PCH on Monday or Tuesday at 3% or above. Shouldn't be tough to get that. I'll then be able to put the money into another stock with greater potential, probably to the upside.

All the other stocks will have to wait for further gains. I'm exceptionally pleased with EGLE's rebound. It's had some above average volume these last days which point towards a trend reversal. I'm hoping for a 5-10% return on it in time. As for ADSK, XLF and INTC, they are looking okay. I haven't changed my plan for them.

Good trading. Good luck. And take responsibility (i.e. This is not investment advice).

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