Monday, February 19, 2007

Monday's Trading Results

It was all about uranium.....

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I own:

OMG @51.42
GS Mar07 230 calls @1.80
JNN.v @3.49
RSC.v @3.43 @9.09 @4.93 @7.44 @4.64 @19.21

Uranium powered my account equity to a new high today.
Some of these entries were executed poorly, so I will do a review of the charts of all my holdings tonight to identify stop loss points.
I'm holding over twice the amount of overnight positions as permitted by my Trading Rules. I will probably devote most of my attention to managing these positions tomorrow, which means it will be unlikely that I will open any new positions tomorrow - that is, unless the low risk, high probability setups are so compelling that I cannot not open a position.

How bullish is the uranium sector now? Well, Majescor Resources (MAJ.v), a microcap diamond mining company that trades on the TSX Venture, issued a press release today that mentioned the hot keyword of the year - uranium. As soon as the press release was issued, the stock shot up +17%.

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