Since it's done the expected pullback (and more -- lots more), I'm up to a full allotment plus a decent-sized trading position. I'll try to work this the same way I successfully did with [t]ELN[/t], selling it all whenever it gets ahead of itself, but most of the time keeping the core position intact and using swing-trading profits to increase the size of the core position until I'm "done". "Done", to me, means the stock has reached a point where it can just get added to the pile, rarely to be looked at again. ELN is there for me now and I trade it very rarely. It'll take a while on FMT.
I felt there were a lot of bargains to be found yesterday, so I put on large trading positions also in [t]ACAS[/t], [t]ADCT[/t], and [t]OVTI[/t], as well as adding to my [t]WPL[/t].
I'm so heavily invested right now (including margin) that I'll be watching pretty carefully next week and have stops in on most positions as I don't consider the remainder of my buying power really "buying power" but more of a buffer against the largest hits I'm willing to take on these positions. The stops are placed where they'll prevent a margin call and in some stocks (OVTI especially) are fairly tight because in that one's case I feel that the downside, if it happens, could take it to the low 13's, but if it's headed that direction, I'll be out at 13.51 and a buyer again if it gets to 13 or below.
Next week could bring me massive slaughter in my long-term account or great gains. The most volatile one in that account is WPL and I've now got a full allocation there.
In my trading account, next week could bring great gains or limited slaughter resulting in my being mostly (less) cash. |
