Sold 2300 shares of HRSH at 11 5/8, for a 1/8 gain over the
weekend. This was too much risk for too little gain, so I will
have to classify this as a warning, rather than a victory or
defeat. Now that I've got my position down below the sweat
level. I still have 1500 shares.
My strategy is to trade dead cat bounces on the long side. In
order to survive, I have to be very picky about what I get into.
In addition, I don't think I got the best purchase price on Friday,
and I know I put too much money on one too risky stock. Every
now and then I spot a sure thing, but HRSH wasn't it. PMRP
was interesting Monday, but I thought they had moved too far
off their bottom, so I didn't chase them. In retrospect, that would
have been a better move.
This morning I bot 3000 shares of IVAC @ 8 7/16, looking for
a short bounce. They have a lot of debt, a lot of cash, are
exposed to SEA problems, good product, good growth, and are
reasonably attractive at the current price.
-- Carl |
