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Giorgio's Buy/Sell Recommendation November 12,2009

 
Giorgio’s daily buying or selling of a stock based on his convictions for the day.
Each day Giorgio will make one recommendation using a post market open price to buy or sell the equity/ETF (usually within the first 30-60 minutes after the open, included with the price will be a Stop Loss) and post this blog for investors to follow in the morning. After the market has closed Giorgio records the closing price and reposts his blog for investors to see how Giorgio’s pick faired for the day. Giorgio does not have a target price for the day (although he recommends selling his pick once the equity  has gone up 1%-2% in a day) his trading picks are geared toward the regular Joe who goes to work and can’t watch the market all day, by the time he drives home through traffic the market is CLOSED.  
Once the % difference in open price and closing price is calculated Giorgio will post the net % day gain/loss for the day. Note: Commissions other alternative costs are not taken into account)
The accumulated amount is Giorgio’s net % gain/loss since the inception of his daily recommendation blog (Note: This is based on a hypothetical $1 starting amount
Good Morning: Looking at all of the market opportunities today leads Giorgio to believe investors should turn to notable upgrades by Goldman last weak to pick a daily strong stock today.

PKX was chosen because it was upgraded to a conviction buy on Octoboer 13th by Goldman Sachs (Price Target $150).  Additionally, the country where the company is based in, South Korea, has seen its economy grow by 2.5% in the third quarter.  last but not least Posco Steel Recently raised their 2009 profit outlook by 23%.


Bullish news on a great company, should pop soon 
November 12th, 2009
Buy: PKX @ $114.91
Stop Loss: $112.54
Closing Price: 113.74
Daily % Gain/Loss: -1%
Accumulated % Gain/Loss: $.9809

Well the market sold off a today (maybe mutual funds selling into strength), however the volumes were lower: my impression is that the market still wants to go high...but we wont take that chance over night.  Close this position.  We are not doing se well we are down 2% in two days: however, we WILL vidicate ourselves, tomorrow is another day