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Tag Archives: SKF
Sold -34 DUG @23.44 and Bought +10 SKF @104.125
DUG broke my $25 stop yesterday. I gave it some room because of the recent $6 / share distribution on Dec 22. So that effectively shifted the chart by 6 points. However, the Crude Oil broke above it’s 20-day MA and is showing signs of strength, Figure 2. So I decided to get out of [...]
Auto bailout shakeout December 13, 2008
To bail. Not to bail. To bail. Not to bail. Friday’s market gapped down big time on news the bailout failed to pass the senate on Thursday night. Then just hours later, rumours were surfacing about the White House stepping in with the TARP money. As of Saturday, FP headline reads White House holds off [...]
BOUGHT +7 SKF @128.83
I intended to take on a short to hedge my position after I unloaded my DRYS shares yesterday. The main reason is that I’ll be away for a couple of weeks and will have limited access to the market. So it’s only prudent to hedge my long positions in this volatile market. Click here to [...]
Bought +7 SKF @149.65 And Stopped out @ 144.58
I bought some SKF today after being stopped out of DUG to hedge my longs. The low volume in the market made me believe this rally would not follow through. In addition, the difficulty of S&P to test 870 looked like a good entry point at the time, Figure 1. Citigroup was also struggling to [...]
SOLD -11 SKF @105.84
Sold my SKF from a cost basis of $102.60 from yesterday (fee $5). The ETF still seem poised to go higher in the near term. However, since I’ll be off to Taiwan for a few days, I don’t want to leave the position unattended as it is highly volatile. Ideally, I’d like to wait for [...]
BOUGHT +11 SKF @102.60
I’m back in SKF today after an exit about an hour ago. Price broke $103 for a few minutes then backed down. Upon further analysis, I think the Paulson plan wouldn’t pump the financials, at least for now. It would be too obvious and not profitable for the traders. A better scenario would be a [...]
SOLD -10 SKF @102.51
Sold all my SKF for a tiny profit from $96.70 entry (fee $5). Congress is discussing a $700 billion rescue plan for the financials. The drop of financials in the past two days seem to be more of a setup for Paulson to sell his plan. The volume on SKF has been very low for [...]
My name is Paul and I am a full-time engineer, part-time trader. Back in 2000, I deposited my $5000 interest-free student loan with an online broker. Since then, my interest in trading has become an obsession.
SOLD -10 SKF @131.74