Thursday, November 29, 2007

Post Thur Notes: Market flat, three new buys made before close

One of my fellow co-workers was giving me problems so I was lucky to enter my trades a minute before the close. A recap of the new buys:

a) 3rd purchase of RIMM at 122.10
b) 200 of ESRX at 68.38
c) 150 of BUCY at 87.62

I'm still having difficulty with getting a good entry so it means external factors such as co-workers or tilt remnants are affecting my judgment. I won't know until Mon how this trade develops as I'm playing a combination of factors.

1) Calendar tendency: end of mutual fund reporting year, beginning of new month, monthly 401k buying by funds at least one day next week.

2) ESRX and BUCY at new 52 week highs.

I feel a little better having a 45% long position so that I won't miss any material upside move. But its going take some positive catalyst to show a decent gain in these positions.

Solar stocks are one of the few sectors to lead the past three days as FSLR hit a new high today.

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