Dear Member:
We closed 2 more winning positions this week. As we alluded to in our note last weekend, we really just wanted to get out of the DOW trade if an opportunity let us as DOW appeared to have lost some momentum a couple days after we purchased it. Fortunately, our opportunity came and we were able to bank a gain.
We also sold YHOO for a gain. This was a position that we initially thought was a high probability for about a 2-day hold and quick sell for a gain. But, as we all know, the Market has its own plans. Nonetheless, we were able to sell YHOO for a gain in about 5 trading days.
Pfizer (PFE) basically ended the week about where it started. That may be a good sign after the market digested the layoff news from the previous week.
We continue to have open positions on the board in WMT, TEK and CSCO. We are looking for any opportunity to exit our TEK and WMT positions on a move up. CSCO keeps teasing us with runs up to $20 and then falling back. CSCO has been bouncing between $18 and $20 the last year. The recent fall back to $18 is obviously not the movement we were looking for as we need it to bust through the $20 ceiling on one of its runs.
Have a great week!
Success Trading Group
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