Monday, January 29, 2007

Clean up day

Today was a clean up day, a lot of ideas were OFFed.
2 positions had been taken off the list with biggest ( so far ) losses this year
(CVTX) -6%
(VVUS) -4%
As always the problem with biotech - you "smell" something, but it might be nothing, but sometimes you hit (TNOX) or likes - we tried. Still - biggest losses this year...

There was another MAJOR disappointment today
(BOW) from Jan 18th with T.P. of 22.89 - gapped up (we never had a chance, of course except for those who was already in - I was not for one :( and closed 24% up

Second disappointment - (IRTB) - gapped up in pre-market 7% and it was all down the hill from there - this is when it worth to repeat a rule - only fill on the way in the direction of your trade, not opposite!

On a personal note - my long time favorite ( reason? chart ) SYGR was bought by Carlyle today - up 28% ( I had longer term position in my wife's IRA account)

Market is shaky - hold on to your profits ( I use the rule - "keep at least 2/3 of profits no questions asked") - but someone might have a better rule, bottom line - KEEP YOUR PROFITS!

Few new trading ideas added to Members Site - you know where the key is!