Friday, October 06, 2006

A Good week

Not too much acitvity on my part for today, which must mean that I'm actually following some of my rules.
I made one sell and one buy today.

The one sell was on UTSI:

I sold UTSI @9.35. If I had a better entry price, like say at 9.01, then I would have probably kept the stock instead of selling it. But since I bought in no man's land (@9.28, which I neglected to mention in yesterday's post because I was so tired....), so I'm not too surprised at this result. Upon reviewing the chart after the close, I find UTSI retraced about 50% of its breakout yesterday. So, from these levels, it's actually looking somewhat healthy and might be a candidate for re-entry. We'll have to see how it behaves on Monday.

The only stock that I bought today was HGSI:
I bought HGSI @12.85. As I mentioned yesterday, HGSI was a choppy stock and sure enough, after I bought it, the breakout failed and it dropped to a lower price level. But since it did not drop below my initial stop @12.59, and today's price pattern looks a bit encouraging, I have decided to continue to hold it.
So now I hold 5 stocks in my trading account:

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