As you can probably guess I established a few more positions today. First lets get the boring stops from yesterday out of the way.
In account 1 MicroFocus stopped out @322.99 for a £4 loss.
In account 2 Punch Taverns stopped out @59.60 for a £15 loss and Mitchells & Butler stopped out @335.05 for a nice little profit of £38.75. Thats another example of the price spiking and then lowering quickly to take out my trailing stop too fast and its already ten points above that stop out price today. I really need to take a deeper look into my trailing stop strategy on these trades to see how I can avoid this from happening. Still, its nice to bank some monies for the account so the trailing stops are working to some extent, I just need to optimise them a little.
Onto todays trades then, firstly in account 1 I have established 6 new positions today based on share tips. These were:
Augean @26
Bellzone Mining @62.16
Blinkx @78.19 (this is a reopen of a closed position due to it being re-tipped in a different service)
Costain @218
Charles Stanley @275.69
Zincox @45
In account 2 I have re-established 3 positions at discounts from previous stops. These are:
McBride @169.3 - a 5% discount on the last stop out
Tribal @25.6 - a 23% discount on the last stop out
Trinity Mirror @74.9 - a 25% discount on the last stop out.
I also have a close eye on MicroFocus too. I know it just stopped out of the pro tips account but I already held it in my position trading account before and its currently at a 13% discount on its old stop out price. The fact it appeared as a share tip is an added bonus, but I feel it has a couple more % to drop first before I rebuy but we'll see.
Happy trading!
You prompted me to also mention Micro Focus at http://tradingtrail.blogspot.com/2010/11/whats-on-stop-out-list.html
ReplyDeleteYes and I've noticed its started to move up so I guess there were a few more people keeping an eye on that share too ;-)
ReplyDelete