Bought DRYS @ $4.98
By admin on Apr 13, 2009 in buys, stock trading
My active screener gave me three options today: LJPC at about 17 cents, MPG at about $1.60, and DRYS at about $5. I decided to go with DRYS as it looked like the best pick to me. LJPC looks dangerous and MPG had already moved up over 70% and I’m always sketchy about jumping on a stock that’s already had that kind of move. That being said it’s already moved up another 6% since that buy signal, so maybe it would have been a good idea to jump on the rocket while it was heading up.
I’m feeling pretty good about my choice right now as it looks like I was right to be afraid of MPG - it closed down 21.9% below my buy in point (although still up overall 38.9%) … it is up big in after hours … but yes, I just think it’s a bit risky to get into a stock after such a huge gain - it’s easy to get whipped out in such a situation - I wouldn’t want to hold through a 22% loss.
LJPC is even off that buy point.
DRYS is up 1.8% at the close from where I bought it.
admin | Apr 13, 2009 | Reply
DRYS has moved up big today although it is lagging a bit now … I don’t want to make the mistake of getting out too early again but at the same time, it’s even worse to get out too late. The peak price today was $5.87 (up 17.8% from my buy point) so far.. it’s at $5.50 as I write this (up 10.4%)
Considering the overall market is down, it seems possible that it could shoot up even farther when the market picks back up.
admin | Apr 14, 2009 | Reply