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Otis2000's  Instablog

I'm a 17 year FA with a large major US brokerage firm.
  • ETP Sold lost 3%
    Sold some of the ETP shares I have on the books @ $39.92.  Bought @ $41.25 on   8-11-09, lost about 3%.  Held all shares in income oriented accounts.

    Broke my own rules when I bought this, this was a bad buy.  When I bot this $ was extended above the 50 DMA and on weekly chart MACD was overbought and flat.

    Sold due to price falling below 200 DMA on a weekly chart 40 period MA, MACD declinging from an overbought condition. 

    Has support at about $35  a 50% retraceent of recent move up. I would buy the stock back at lower prices about $35 if chart looked OK.
    Tags: ETP
    Sep 02 04:30 pm | Link | Comment!
  • EPD Trimmed to 4%
    Trimmed position in EPD back to 4% @ $26.81. Bot 4-9-09 $21.74.

    Want to hold the stock longer term.  Sold because on a weekly chart MACD overbought and declining.  10 week moving average just starting to decline.  market condition has weakened, had a 20% + gain. 

    Not making a prediction of the future, however 9 thru 10 are historically poor months and the Legislative Cycle may be prounced this time around.  Just looking to capture some gains, raise cash.
    Tags: EPD
    Sep 01 11:24 am | Link | Comment!
  • GLW Sold at 4.5% Loss
    Sold all shares of GLW today for 4.5% loss.  Had bought this 8-20 at $15.83.  In reviewing this trade I should not have bought this because it violated my buy rules.  On 8-20-09 the MACD on a weekly chart was declining, should not have bought the stock.

    Sold today due to 5% drop quickly in stock, broke prior low of 8-17-09.  MACD on weekly chart declining.  My firm still rates the stock BUY and I wuld buy it back at lower prices.
    Tags: GLW
    Sep 01 10:57 am | Link | Comment!
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  • SSW. Bot Monday 8-3-09 at $7.23. Thesis is rebound in global trade, balance sheet, dividend. Can go to $23, stop out at $6.40
    Aug 04, 2009
  • Today bought Paychex @ $29.96. Thesis is small employers starting to hire. Limited downside due to aluation, stong balance sheet & dividend
    Aug 04, 2009
  • Yesterday bought VMC ahead of earnings. $47.73 basis. Thesis is stimulus spending, wide economic moat limited downside due to valuation.
    Aug 04, 2009
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