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Dog of times
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I'm trying to stay retired.
  • FEB 9TH's BUY UPDATE 0 comments
    Mar 6, 2010 1:35 PM | about stocks: SPY, AMD, BWEN, EXXI, LPL, SSLT, STP, PCP, YGE, PAL
    Feb. 9th
    DJI:   10,040
    SPX: 1065
                            COST             3/6
    BASE                 MONTHLY
                            UPDATE
    AMD:               $7.52               $8.61
    BWEN:             $5.15               $5.24
    EXXI:                $18.51             $20.75
    LPL:                 $16.40             $16.16
    SLT:                 $16.20             $18.01
    STP:                 $13.02             $14.86
    PAL:                 $3.70               $4.42
    TIE:                  $11.25             $13.74
    YGE:                $12.85             $12.88
                            $11,200            $12,351
    PROFIT/LOSS                         $1,151
    PERCENT GAIN                 10.3%
    ANNUALIZED GAIN            123.3%
     
    This is an actual trading log based on the buy signal I posted on seeking alpha, Feb. 9th. I bought 100 shares of each stock except PAL, of which I bought 300 shares. I still hold these positions as of 3/6 because my sell signal hasn’t tripped yet but the trade is getting long on the tooth and I am of the opinion we are in some kind of trading range and will sell all positions and go to cash when I get nervous, which may be soon. 10,600 on the DJI and 1135 on the SPX represent strong resistance. However the SPX closed at 1138.7, 3 points above 1135, a bullish sign. 
     
    So, for now, I’m holding into next week and looking for a test of the old high: SPX 1150/DJI 10,750. The RUT and SPX display good relative strength to the DJI, which is also bullish. The rail/cargo container/diesel reports are all ok, so far, which means there is some economic recovery besides the fako recovery the government has delivered to us.
     
    And there will be the spin-off from hiring one million plus census workers, of which I am one, is an unknown plus. Personally, I have bought some new socks at WalMart and spent a little more on gas, driving around, everything else, goes into my trading account which is showing signs of life. I never was a consumer per say.
     
    The RUT at 666 has broken out into a new high, again very bullish.
     
    So, for now I wait and watch and wonder if this rally is a prelude run-up into next quarter’s reports, when, I again look for a correction. Because sooner or later there will be another correction. Oh, all these positions have stop losses at this point. If the market tanked on Monday my gain would only be 5%. I raise these stops on a case by case basis, so YGE and BWEN would generate losses balanced by the other’s gains.    Since I’m doing this I’ll up date it now and then and when I sell for the final results.


    Disclosure: long
    Stocks: SPY, AMD, BWEN, EXXI, LPL, SSLT, STP, PCP, YGE, PAL
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