Monday, May 7, 2007

Position adjustment recently

Short term stocks:

Sold all 500 shares MPEL at 17.90 last Thursday when LVS's ER failed the hope of lucrative gambling business in Macau. My MPEL shares were accumulated three times at 15.88, 16.45, and 18.10. Did not sell when the stock went above 19.00. Should've taken the >10% profit partially earlier.

Last Friday, Sold half position in OVTI at 15.05 (took 10% profit).

Last Friday, cut loss on SBUX (-3%) and bought in JMBA at 8.77 since I buy in the seasonality story and loved the chart after I see a hammer in place for that day following the prolonged downtrend.

Today, cut loss on IBKR, sold all 100 shares at 29.75 (-8% loss). GROW reported ER today, lower profit Q2Q. Investing services stocks took a hit. This is the second time I got hurt from chasing hot IPOs. Last time it was NMX at 150. Ouch!!! Ouch!!!

I still have a loser FMCN (-5% down) in my short term holdings.

Short-term holdings include:
OVTI, FMCN, FCX, JMBA

Intermediate to Long term stocks:

Sold IWS at 160.6 today (cost 153, 5% gain). Plan to buy back around 155-156 depending on the market condition. I am trying to time the market here.
Tentatively bought HNR at 10.01 with the proceeds. Will average up if it goes north. Will cut loss if it goes below 9.5. The risk/reward ratio seems ok here.

Now my intermediate-long term stocks include:
AAPL at 96.1
GLD at 67.5,
PTR at 117.71
HNR at 10.01

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