Welcome

This blog is for all those who are interested in all aspects of investing. We hope to build a friendly community of investors, to share opinions, advice, and to ultimately achieve success together. We will look at both fundamental and technical aspects of stocks to gain a market edge. We wish to explore the strategies, psychology, and philosophy in order to succeed at this game. Everyone is invited and encouraged to share their thoughts no matter how old, educated, or rich. Let's help each other to meet our financial goals.

Questions, comments, and suggestions are welcomed so feel free to email us:
peginvesting@gmail.com
psyduckpoker@gmail.com

Thursday, December 6, 2007

Raising Cash and Sitting on the Sidelines After Liquidating My Portfolio

Well today we tagged the 1490 resistence a couple of times in the S&P before finally busting through for a small pop. This level will be heavily defended by the bears and I believe those go long right at the breakthrough may be falling into a bear trap. The volume going up was not very impressive and I expect sideways trading or a late day selloff. I would not be a buyer yet nor would I be a seller unless volume picks up and favors a direction. I don't want to gamble by holding overnight where we could gap up or down, but I'd rather just daytrade and hop in and out. Preserving capital to fight another day is the key to this game.

I sold FRPT at $9.94 after gapping down during the open. Although I believe the stock will ultimately go higher, I didn't like today's signal and I I'd hate to lose all my profit.

Exited LDK at $41.15 and will buy back during the day's close at a lower price.

I made a very nice gain on KUN averaging out at $8.94

I also took a small position in FXP at $64.85 as a bounce play off support but prices reversed and I had to sell for a loss at $63.55.
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Disclaimer

Information published is purely for educational and entertainment purposes only and is not a recommendation to buy or sell any stock. Investing in equities could result in you having to lose some or all of your money. Before investing your money, you should always do your own research and always consult with a professional . Peginvesting posts stock information with unverified shares in companies and may buy or sell at any moment. This website does not tell you to buy any specific stock or to invest your own money in a certain way. Past performance does not guarantee nor will be indicative of future results. Peginvesting deals with rapidly varying ideas and some may be gossip. Equities featured on this website are high risk investments which in some cases may include penny stocks. We are not liable for any incurring financial losses. All statements of fact and information used have been taken from all sorts of online investment and financial websites. We cannot completely verify their accuracy and they are subject to change. All opinions presented herein are strictly that of Peginvesting and its contributors and should not be used to base your financial decisions. Content from this website cannot be disseminated without the expressed and/or written consent of the publisher(s).