Tuesday, October 9, 2007
Broke a rule: Chasing
One of my best stocks has been goog this year. I bought at 460, sold at 550 then it went down and I bought again around 490 and recently sold at 566. The problem is that it was 616 today and I couldn't stand it, I think it has a reasonable chance of hitting 700 in the next 6 months. So I bought a small amount with aims to tier myself back into the position. I actually hope it goes down because I'm afraid it's gone up too fast, either way I plan to buy more. When I sold at 566 I was 90% certain it was going to retrace and fall closer to 500....woops In a similar "tier/chase fashion I bought a small position in VMW. This company is 90% owned by EMC and appears to have a great future. I generally hat buying IPOs because there is no substantiated financial history. Having a small position in VMW and GOOG will also allow me to feel like I'm not missing out on great opportunities. My SNDA position is up but it seems to be hitting resistance, I may pull the trigger on 50% of the position this week. BA I still feel good about. I had a busy day at work and had no time to do any other research. An experiment that I designed looks like it may give the answer to why some tumors that we have been testing are becoming resistant to drug....I was excited to pour over the data, lost all track of time, and forgot I had left my car at the shop. Luckily they left it outside and I had Laurel bring me the keys....I'll have to run in and pay them first thing. Talk about absent minded scientist.
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