Monday, May 17, 2010

Positions Update...

After MSTR did not sell off earlier today during the weakness in the overall markets I begun to get suspicious. Then after this evening's rally, I was prompted to cover my entire position in MSTR @ $77.00 for a small profit of about $14.00. I hate to hold positions that do not move in my favour immediately!

I also bought 100 shares in CBPO @ $13.00 with a stop loss @ $12.50 risking around $60.00 including commissions or about 1/2 R. The market is still very much in a correction so while I like the set up in CBPO; I am not willing to risk a full R on a long position. In addition, I will be quick to take profits in the region of 1.5 - 2 R.

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