Sorry this post is so late, but I had a long day today that included work and school that was preceded by only having an hour's worth of sleep last night. After being on Green on the Screen, my "five minute" nap turned into a couple hours! How so unproductive! Anyway, I've been taking baby steps with this entire project and today I was told that Muddy has seen my blog! THE Muddy! I'm absolutely floored that such a seasoned trader would take notice of a small time rookie trader such as myself. I'm humbled and I'm still floored!
One thing I've learned, specifically from Tim Sykes, is that if you cannot keep a close eye on your position, then you should get out of it so that you don't risk losing money by having the stock go in a direction that you didn't anticipate. Luckily, I was able to go to my job and keep a close eye on my sole position. I'm still short 1000 RZ @8.38. The stock closed red at 4.19% at 8.00 with a low of 7.28 of the day. I was so tempted to take profits early in the morning (pacific standard time) because I found that a profit of about 5-7% very nice...and you just never know in this volatile market. But, I was able to keep a very very close eye on my position, so I decided to let this winner ride. RZ's not exactly a Sykes Supernova, but it's been up over 80% since last Thursday - what goes up, must come down. I think RZ has more downside left, considering people will take profits when they can. This might even be a multiday short for my little account. We shall see...
Thursday, October 2, 2008
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