Bought PRGN @ $5.80
By admin on Jun 2, 2009 in buys
I bought PRGN @ $5.80 on double margin using over half of my total account’s value. It appears to have resistance at about $6 so I’m hoping it can break through that and give me a huge pop.
Of course I know you’re not supposed to play on “hope” - Timothy Sykes advises to play after it’s already broke through but I haven’t quite got that timing down. I guess I’m still trying to get better entry prices.
I’ve also been considering STI @ $15.10 but I don’t think I’m going to pull the trigger on it. I like the volume pop but it looks too much like it could drop back down considerably as well. Too much risk, especially when on margin.
STI is now at $15.35 … maybe it was a good play?
admin | Jun 2, 2009 | Reply
STI is now at $16 (almost 3 PM) … so yes I should have got in. But the good news is my other plays (PRGN, CCO, and CENX) are all up too… just not as much as STI is.
admin | Jun 2, 2009 | Reply
Closed at $5.78 so yes STI would have been a better play, at least for this day, as it closed at $15.94 .. Still if this one can break through it’s resistance in the $6 area tomorrow morning I think I could take a big ride up …
Of course it’s just my luck that I have a lot more in this one than in CCO (which is up 12% since I bought it) I seem to always get it backwards.
admin | Jun 2, 2009 | Reply