Monday, December 10, 2007

Before tomorrow's Fed meeting, and two more purchases

Doing all of our homework on Fri and this weekend makes it easier to ignore all of the CNBC or message chatter. While there are special situations when price or volume alerts can occur at a moment's notice, most of the time you're trading your plan you have written the night before the following day's trading.

The main reason for having a plan, the markets or pundits are always trying to fool you and having that plan whether right or wrong is better than relying on the antics of a chair thrower.

Tomorrow's Fed announcement is a foregone conclusion that some type of rate cut will occur. The only question is how much and what the market reaction will be. While I am concerned about the potential for a down day tomorrow and a reversal, I will take the chance and place some buy orders.

For those who paid attention to last Fri's post, you noticed I added the 3rd purchase of 150 shares BUCY. Now for today's trades at the close:

1) add 4th purchase, 150 of BUCY around 95.75
2) new purchase, 150 of POT around 132

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