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trading strategy, trade stock
Greetings,
Although the markets ended the week on a down note, I had some positive action. I was able to close two positions for winners and opened one new position.
Earlier in the week I sold my DELL position at $38.92 per share. Initially, I bought the stock at $38.52 per share a couple of weeks ago. I made a nice, modest forty cent gain for the trade. It seems you can do this trade with DELL over and over again as I have many times in the past. Later in the week when DELL pulled back down I opened a new position. This time I bought my shares at $38.30 per share. Before Friday's major market retreat Dell was surging back up as high as $38.70 before falling back. It's just a matter of time.
On Thursday, I closed my BBBY position for another winning trade. My cost average position was approximately $37.53 per share. I sent my sell notification out at $39.25 and was quickly filled at $39.95 and higher per share. In the past, I would have sent a sell at market notice when a stock surges upward as BBBY did, but I got a few complaints from members who did not react in a timely manner. Hours later when they read their notice the stock had fallen back below their buy in price and they were very confused. Now what I'll do is send a limit price well under the actual bid and ask to eliminate the confusion. I do this knowing my order will be filled at a much higher price or the market price and I won't miss the sale by setting too high of a limit price. I closed BBBY position for a gain of over $2.40 per share.
I currently have six open positions. They include DELL, WMT, CSCO, MSFT, MOT and TEK. I was a little disappointed that I missed cost averaging MSFT earlier in the week. I had planned to do so around the $24.00 mark. It was there for a brief moment in the early part of the week before surging upward. If the market weakness continues I'll try and catch it if it falls near the $24.00 level again. Bad WMT press along with lower end sales projections kept the stock from moving up. I'll continue to hold these positions for better days ahead, they are all good stocks. I'll also be looking for other energy or software plays next week. We'll see what the market has to offer.
Have a great week,
Anthony
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These notices of Anthony Myers' trading ideas are intended to provide opinions about and analysis of the mentioned stock(s). They are not intended to provide personalized investment advice. DO NOT EMAIL ANTHONY MYERS SEEKING PERSONALIZED INVESTMENT ADVICE, WHICH HE CANNOT PROVIDE. Anthony Myers is the commentator for AEM Investment Company, LLP. Online Investment Services, LP. is a publisher (via InvestmentHouse.com), and neither Online Investment Services, LP, InvestmentHouse.com, nor Mr. Myers is registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission or with any state securities regulatory authority. From time to time, Mr. Myers may write about stocks in which he has a position. In such cases, appropriate disclosure is made. Mr. Myers statements represent his own opinions and is provided for informational purposes only, and no mention of a particular security constitutes a recommendation to buy, sell, or hold that or any other security, or that any particular security, portfolio of securities, transaction, investment strategy is suitable for any specific person. You further understand that Mr. Myers will not advise you personally concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. To the extent any of the information provided may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. There is a very high degree of risk involved in trading. Losses can be significant. Past results are not indicative of future returns. You bear responsibility for your own investment research and decisions and should seek the advice of a qualified securities professional before making any investment. By accessing this data and accepting emails from us, you agree to be bound by the Terms and Conditions of service and the Disclaimer as such may be amended from time to time.
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