Bought CCO At $5.01
By admin on Jun 2, 2009 in buys
I can only buy stocks over $5 using margin with SogoTrade so I jumped on CCO as it went over $5 as it’s been going up all day. It’s already up about $1.50 / 40% and I usually stay away from stocks with that kind of gain, but from what I’ve been learning following Tim Sykes - I think that may be a mistake. Perhaps it’s better to jump on on these rockets as they’re going up instead.
I do feel a bit bad for buying stock that has anything to do with Clear Channel because I despise them. But I am just going to buy and sell it of course so… whatever!
Closed @ $5.62 which is a gain of 56% on the day and a 12% gain since my entry point. See, I guess Tim Sykes is on to something with the way he likes to play breakouts. Instead of guessing whether something is going up or down, just get on the rocket as it’s heading up. But now comes the hard part - getting off. I held it through the close so I have to hope it doesn’t gap down tomorrow and the day after a big gain like this… there can often be a big gap down. But there can also often be a second huge day that follows…
admin | Jun 2, 2009 | Reply