Thursday, April 12, 2007

Plays for April 13

One of each for tomorrow.

Long BLTI 7.56

Short CBRX 1.80

Today, ACEL had a big reversal to the upside midday and I got caught without a stop, I was so sure it was going to stay down I didn't put in a stop and took a big hit. Ameritrade won't allow a Trade trigger buy to cover, which is what I was going to use as a stop order, and at the same time have a market on close order. Lesson learned here is, it's better to have a stop order to limit losses and dispense with the market on close. Without the market on close order, I can always sell at the open next day. These lessons are getting expensive. Hope I don't take any more of them.

MNST shot up around midday and ended up over 5% , putting me in the green finally. Still the stupidest trade I made this year.

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