To: BarbaraT who wrote (1069 ) 3/3/1999 6:49:00 PM From: Kimberly Lee Respond to of 13776
A mixed day, but overall, profitable but a trifle too exciting Sold IMOT at the open, very nice profit, but here comes the anatomy of a BAD TRADE: remounted at 3 5/8,11/16, added at 3 1/4, averaged down again at 2 5/8, managed to sold all at 3 3/16,1/8, escaping with only minor losses. Should have admitted mistake when IMOT drop to 3 3/8 the first time and took my small losses, but my ego got the better of me and I kept averaging down. In the end, in monetary terms, the trade worked out fine, but in doing so, I violated all the important risk containment principles, not something of which I feel proud. GOCA, should never have added at 2 5/8 -- I received misinformed intelligence information about TRWN desperate to cover their shorts. Sold all at 2 5/8, 1/2. At least I bought the original position a few weeks back at a low price. Other than these two, the rest of the trades were fine ITOY -- that was a nice trade. Bought on Monday at 5/8, and a little more at 1/2 later. I felt the news of management change then was actually positive, but mms were in the mood to shake out weak hands. Today I sold some at 7/8 and still some at 1.03, holding the rest Kathy, did you ask me about this one a few days back? I forgot to answer you, I think PNTC, bought at 5 and added at 5 1/2 today. A risky play, and only now do I find out that some people at Anthony's thread were actually shorting it at a lower price -- big mistakes on their parts, reminding me of NAIB shorting IHWY at 3 3/4. We all know what happened to that one. In all fairness, PNTC's news sounds contrived, exceedingly hypish and grandiose bought some more GLXY early this morning, took some profit at 4 1/8, holding the rest bought GMCH near the close, should gap up tomorrow