Wednesday, September 22, 2010

Two Steps Forward

then the inevitable one, two, or three steps back.

LOCM sold today (+12.5%). I had a 10% trailing stop loss order under it and yesterday's spike pushed the trigger price up. I probably would have reset it if I'd noticed it, but banking a nice 2-day profit is not the worst thing either.

I bought WATG calls yesterday.

Reversal alerts: Two alerts, but only YGE (c) is interesting here. Triple digit earnings growth, 80% revenue growth (MRQ), and rising earnings estimates and a P/E falling from 28 to 12. Previous trades were mixed with the profitable trades netting over 20% each and the losing trades were negligible until I went to the well one too many times with a big position that took a big hit and put me in the red with YGE. It's not my best prospect ... or the worst.

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