Wednesday, March 7, 2007

Took Some Profits

Well finally I get some action going my way. Me making money, coupled with Shortdabull's about-face in the comments section must mean the stars have aligned, if only for this morning. He gave me some good advice, and honestly, I've been telling myself the same thing. So what I did was closed out half of my SMSI (500 @ 16.66) for a nice .81 cents gain, and I closed out half of my GIGM (500 @ 11.953) for a small gain of .22 cents. I put stop losses on the rest of both positions. AOB is still struggling for a direction, so I'll let it ride for now.

Long story short, I booked some nice gains right off the bat this morning and have stops to protect the rest of the gains. If the market continues to move in my favor, I'll still make money. I will now relax a bit and hopefully end my streak of "trading like a crack head looking for crack." Thanks for that one Fly.

***Update*** 11:14 EST
Stopped out of GIGM 500 @ $11.83
Stopped out of SMSI 500 @ $16.77
Sold AOB 1000 @ 10.53

I am completely in cash now, except for MVIS. Going to stand on sidelines and continue game-plan development.

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