Wednesday, November 5, 2008
Position Update - PLA Scalp
I just closed my short position of PLA with fifteen minutes left in the trading day at $2.18, with a profit of $236. My exit could have been much better, but I wanted to definitely get out before the earnings report tomorrow. I don't play earnings because it's basically a crapshoot if you do play earnings; very risky. Nonetheless, I'll It's better to walk away with a little something instead of a loss, even though I do love how the stock is acting toward the close of the trading day. Oh well, on to the next play.
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5 comments:
Torello,
You are one master trader! I was looking at PLA and I was kind of worried after it crossed 2$. PLA is at 2.40 right now, so you were very smart in getting out with a profit.
Do make a post about your potential watches tomorrow, I will be following!
RJ
BTW, noticed one thing, I am not in your blogroll! ;)
Ramta...you are funny! Muddy is a master trader, not me. No way. I've learned from my loses and I've learned a lot! I stay away from earnings reports because no matter the amount of research I put in, it was still a 50/50 chance of me being on the winning side of the trade. Save yourself the headache and stay away from earnings reports. I trade like a chicken though!
Torello,
I think you are being too humble. Yes, you did have your losses but as of now, all your trades are PERFECT. You are letting your winners run (TOMO, RZ) or creating a small winner if you think Trade is running against you. I think that's absolutely fantastic.
And btw, I have no positions in PLA. I was watching only because I know you were holding position in it.
Looking forward to your watches,
RJ.
Ramta...I got out of PLA before the Market closed today because the stock was just not going lower and kept lingering in the $2.20 area for longer than I wanted. My position at $2.43 was comfortable, but i didn't want to chance it with earnings on Thursday. I've learned to try and stay humble because the Market can humble you quickly.
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