Activity

Sorry for the hiatus last week but in all honesty I have been just as active in this blog recently as I've been in the market. I gave up some of my gains and just plain got stopped out of others. I'm currently only in a couple positions, one of which I can't sell no matter how much I want to be rid of it.

I am looking at TBSI. This is a stock that has caught my attention over the last several months and finally put on my watch list. Earnings is on Weds, so I'm keeping a close eye on it until then. It doesn't have much of a history of gapping at earnings so my expectation is that it will continue on its merry way, hopefully giving a good entry.


I have recently been debating my order entry rules on my bounce trades. It's a constant battle of waiting until the close of the day being above the high of the low, giving a good solid, sure entry and trying to not miss on the momentum often accompanying such a move the first day of the bounce. The latter has gotten me in trades that I shouldn't have taken, ones that pull back right after I get in. The new rule is as follows: not wanting to miss the momentum I'm still going to be using buy stops 20 cents above the previous day's high, to make sure I don't miss out on any momentum. However, I will check back w/ the trade before the close. If the price isn't going to close above the high I will close out w/ a small loss. I find that every time this has happened I have been stopped out, so I will just be closing it a little sooner if need be. I think this will be particularly useful in the volatile market we are seeing. Other exit rules are remaining the same.

PS - Check out the Staples today!