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12-Aug-08
A Look At 4 Closed Trades
I will start with my trade in GLD, as I immortalized the setup in the post, Don’t Think, Buy GLD.
In the post, I wrote, “Choose a stop based on whatever you want, but obviously, the 200 day average and the trendline must not be violated.” I wanted to give (GLD: 80.52 -0.75%) a chance to break through the 200 day and reverse, and not get stopped out, so my stop was at $85.05 The stop worked very well, until GLD gapped beneath it. I recorded a loss of 5.73%
I would like to note that GLD is ridculously oversold, and will bounce, very soon, in my estimation. Again, you’ve go to use a stop on these types of trades, and as I’ve shown here, some trades will gap beneath your stop.
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The following three trades were closed Monday, August 11th.
H&R Block, Inc. (HRB: 24.70 -2.79%) was a trade I talked about a bit.
Gain of 3.51%
I sold this one as I felt it was especially susceptible to headline risk, and because the MACD was rather weak for a new high, as was volume.
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Marten Transport, Ltd (MRTN: 20.68 +1.12%) was my play on falling oil.
Gain of 7.62%
I sold this one because it quit responding to drops in crude prices, the MACD was crossing, and volume was weaker than I liked.
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Premiere Global Services, Inc. (PGI: 15.99 -4.31%) was an easy trade.
Gain of 7.18%
This trade was well executed. I think this one will go higher, but I pegged the entry, so it made sense to peg the exit as well.
Tagged Stocks: GLD
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2 Comments on "A Look At 4 Closed Trades"
Posted on 13-Aug-08 08:51 by BlainR
Posted on 13-Aug-08 19:00 by Woodshedder
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