Week in Review - February 25, 2013
Chris Hopkins
In an effort to streamline this blog a little I'm going to start writing a
weekly re-cap of trades closed out during the previous week. This is my first
weekly recap, and unfortunately, it's not a good one... The numbers
Symbol: TASR
Purchase Date: February 21, 2013
Purchase Price: $6.9265
Sell Date: February 25, 2013
Sell Price: $7.0133
Days Held: 4
Gain (Loss): 1.25% |
Symbol: TASR
Purchase Date: February 21, 2013
Purchase Price: $7.613
Sell Date: February 28, 2013
Sell Price: $7.45
Days Held: 7
Gain (Loss): -2.14% |
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Symbol: BBRY
Purchase Date: February 6, 2013
Purchase Price: $16.10
Sell Date: February 25, 201313
Sell Price: $13.09
Days Held: 19
Gain (Loss): -18.7% |
Symbol: FB
Purchase Date: February 4, 2013
Purchase Price: $28.47 (avg)
Sell Date: February 25, 201313
Sell Price: $27.74
Days Held: 21
Gain (Loss): -2.58% |
Comments
This was not a good week for me, although I was able to free up some cash in
the hopes of finding some better near term trading opportunities. You might
notice a pattern with these trades too - I moved mostly to cash when the market
moved sharply down on Monday, February 25th. Let's go through these one at a
time.
I actually still own some TASR that I purchased when it was back above $8,
and I made the choice (clearly a mistake in hindsight) of holding it into
earnings, which came out before the bell on February 21st. The two positions
that I closed out last week were bought on the 21st, as the stock was falling,
in an effort to lower my cost basis. I was probably a little quick to sell the
first position on February 25th, but this was a situation where I was feeling
battered by the market and was looking for something positive to put in the win
column. I applaud anyone who has mastered the ability to take the emotion out of
trading, because I'm definitely not there yet!
BBRY and I have had a
rocky month. Maybe I was still spinning from my last encounter with this
stock. The time to get back in probably would have been closer to the bounce off
of support around $13. Instead I purchased another position just above $16, and
then watched it drop back down to and break the 50 day moving average. I don't
like 18% losers, but I felt like the money would be better used on a new trade
rather than waiting for this one to come back to me, so I had to grin (or
grimace) and bear it on this trade.
Facebook was mostly a victim of it's own in-action. It really hadn't gone
anywhere in the three weeks I had been holding it, and much like with BBRY, I
felt like I could do more with the money if it was available as cash than tied
up in an under-performing stock.
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