MYG - stock hit the $17.40 price mark. Sold at $17.37. A small profit. MYG is going through some problems, there debt is junk rated. This is not a stock that I want to hold on to for very long. Technically, it was oversold, so I bought. Fundamentally, the stock has a lot of work to do. I followed my plan and it work out.
Friday, October 29, 2004
Wednesday, October 27, 2004
10/27/2004 - Notes
MYG - stock has made a move up over the past couple of days. Usually the stock is strong in the afternoon. I like that since many institutions do much of their trading in the PM. If MYG shows weakness tmrw, stock is being sold. The company has a lot of problems to fix and I don't feel like holding on to a "fixer-upper" especially if I am not involved in the fixing. If the stock goes around $17.40, I am selling.
Monday, October 25, 2004
10/25/2004 - Notes
PIR - In range, small buying and selling. Not much going on here
EPD - In range, up today
CL - down today, I looked at the 1 min chart and there was some buying. I am not too concerned here. Stop is one so downside is limited.
MYG - I bought on technical advice. I am not going to hang around if this one goes south. Too much speculation here. Junk bond status. Stock was up today.
EPD - In range, up today
CL - down today, I looked at the 1 min chart and there was some buying. I am not too concerned here. Stop is one so downside is limited.
MYG - I bought on technical advice. I am not going to hang around if this one goes south. Too much speculation here. Junk bond status. Stock was up today.
Friday, October 22, 2004
10/22/2004 - Notes
CL - Down $0.15 in a narrow range. I have to give this stock some time to move.
EPD - Down $0.09, in range
PIR - Down $0.08, in range
MYG - looks interesting, will monitor on Monday.
EPD - Down $0.09, in range
PIR - Down $0.08, in range
MYG - looks interesting, will monitor on Monday.
Wednesday, October 20, 2004
10/20/2004 - Notes
Colgate-Palmoliv (CL) - This stock came out with OK news today. They are going to aggressively improve their marketing and did not adjust their earnings forecast downward. Institutions piled in today. I bought some at $45.35. Probably the high for the day. I have a stop in place so the downside is measured. The Company goes ex-div tmrw so the price my fall a bit. The Co also said they would buy back 20 mil shares. That should offer some downside support to the stock.
Tuesday, October 19, 2004
10/19/2004 - Notes
EPD - In a trading range.
PIR - $16.33 stop price. Down today but some big buying at the end of the day.
There was an interesting article in the WSJ last week. Peter Lynch had bought into a stock recently that "tanked." Some individuals piggybacked Lynch and bought too. However, this stock lost much of its value because of a scandal. So, some of the individuals are broke because they followed PL blindly. This should serve as a reminder that there is no easy way to make money in the capital markets. Think for yourself. You may be impressed with the results!
I am keeping an eye on a few individual stocks. There have been some sell offs but nothing moving up fast. Be patient, an opportunity will come.
PIR - $16.33 stop price. Down today but some big buying at the end of the day.
There was an interesting article in the WSJ last week. Peter Lynch had bought into a stock recently that "tanked." Some individuals piggybacked Lynch and bought too. However, this stock lost much of its value because of a scandal. So, some of the individuals are broke because they followed PL blindly. This should serve as a reminder that there is no easy way to make money in the capital markets. Think for yourself. You may be impressed with the results!
I am keeping an eye on a few individual stocks. There have been some sell offs but nothing moving up fast. Be patient, an opportunity will come.
Thursday, October 14, 2004
10/14/2004 - Notes
I do not have too much to talk about. The markets are going down right now, so there has not been much buying. My system seems to be doing its job. There have been no new purchases during this slide. LBY was bought due to some indicators and news. It did move up a bit. However, this stock has reversed and has headed south. I sold before the move and squeaked out a small gain.
I am keeping my eye on a few ideas but nothing is turning around yet. Stocks move up but it just seems to be noise. I don't see any huge breakouts. Satyam, is breaking out. You may recall that this stock was sold at $23.05 for a good profit. I had to sell given my objective and plan.
So, keep searching and sniffing out prey. We'll find some good eatins' soon....
I am keeping my eye on a few ideas but nothing is turning around yet. Stocks move up but it just seems to be noise. I don't see any huge breakouts. Satyam, is breaking out. You may recall that this stock was sold at $23.05 for a good profit. I had to sell given my objective and plan.
So, keep searching and sniffing out prey. We'll find some good eatins' soon....
Monday, October 11, 2004
10/11/200 - Notes
A.M. NOTES
I just finnished a book by Andy Kessler entitled, Running Money. It was a good read. I recommend it to anybody interested in the market and business. There were many ideas and stories that interested me in the book. One thought in particular stuck out. It is a long quote but important. So read...
"Those 'families with substantial assets' had wealth, but it wasn't static. Every generation it shrank unless they chased returns. No rest for the weary. But they don't like risk. Well, too bad. I think what I learned is that wealth comes not just from taking risk but from constantly taking risks."
So if you think you can buy Coke and Merck and go golfing everyday, think again. Making money is not that easy. You must develop a system, pay attention, and be disciplined to succeed. Also, you must think for yourself.
I just finnished a book by Andy Kessler entitled, Running Money. It was a good read. I recommend it to anybody interested in the market and business. There were many ideas and stories that interested me in the book. One thought in particular stuck out. It is a long quote but important. So read...
"Those 'families with substantial assets' had wealth, but it wasn't static. Every generation it shrank unless they chased returns. No rest for the weary. But they don't like risk. Well, too bad. I think what I learned is that wealth comes not just from taking risk but from constantly taking risks."
So if you think you can buy Coke and Merck and go golfing everyday, think again. Making money is not that easy. You must develop a system, pay attention, and be disciplined to succeed. Also, you must think for yourself.
Sunday, October 10, 2004
10/10/2004 - Notes
Sorry for not updating my journal as often as usual. I have been away. Now I am back and ready to get down to business.
EPD - This stock continues to show strength. You could take some profits now but I feel this stock should be held longer. You get 7% on your money while you wait. Not bad in today's interest rate environment. EPD has entered a new trading range. May take a while for the stock to digest its recent gains.
PIR - Still in trading range. Still waiting...
S&P 500 SPDRs month of Sept return for the S&P 500 Spiders was 0.0157. **Market Return - Morningstar calculates the market-price return by taking the change in the fund's market price, reinvesting all income and capital-gains distributions during the period, and dividing by the starting market price.
The return on my portfolio was 0.0275.
EPD - This stock continues to show strength. You could take some profits now but I feel this stock should be held longer. You get 7% on your money while you wait. Not bad in today's interest rate environment. EPD has entered a new trading range. May take a while for the stock to digest its recent gains.
PIR - Still in trading range. Still waiting...
S&P 500 SPDRs month of Sept return for the S&P 500 Spiders was 0.0157. **Market Return - Morningstar calculates the market-price return by taking the change in the fund's market price, reinvesting all income and capital-gains distributions during the period, and dividing by the starting market price.
The return on my portfolio was 0.0275.
Wednesday, October 06, 2004
10/6/2004 - Notes
P.M. NOTES
LBY - up today on almost double volume at 90K. Price up about $1.00. 20/20 hindsight is always great to have. The one thing that I did not do was give LBY some breathing room. I bought and had my stop but got scared for reasons mentioned in my previous post.
I don't see anything compelling right now. I am sure there is stuff out there but I can't see it. Still hunting though...
LBY - up today on almost double volume at 90K. Price up about $1.00. 20/20 hindsight is always great to have. The one thing that I did not do was give LBY some breathing room. I bought and had my stop but got scared for reasons mentioned in my previous post.
I don't see anything compelling right now. I am sure there is stuff out there but I can't see it. Still hunting though...
Tuesday, October 05, 2004
10/5/2004 - Notes
A.M. NOTES
Problems with Blogger yesterday. No updates…
EPD and PIR – still look healthy. PIR is in a trading range still. EPD is trending up but seems to have trouble closing in higher ground. This stock offers a lot of value given the 7% dividend.
LBY – had to sell this one at $19.37. A small profit. Why was it sold?
· This low volume stock is dangerous, slippage is large and one large institution could kill me if they decided to sell.
· Also, volume did not spike up the way you want to see it do so.
· Yesterday, the stock was up in the AM, and then sold off. Ended down for the day. Opened lower today. I figured the amateurs would at least buy this AM. That did not happen either.
· The trend as stalled or reversed.
· Had to sell and regroup.
Colgate is a stock that should be closely watched. They are going through some hard times but this is a set up for a trend up at some point in the future. Stay tuned…
Problems with Blogger yesterday. No updates…
EPD and PIR – still look healthy. PIR is in a trading range still. EPD is trending up but seems to have trouble closing in higher ground. This stock offers a lot of value given the 7% dividend.
LBY – had to sell this one at $19.37. A small profit. Why was it sold?
· This low volume stock is dangerous, slippage is large and one large institution could kill me if they decided to sell.
· Also, volume did not spike up the way you want to see it do so.
· Yesterday, the stock was up in the AM, and then sold off. Ended down for the day. Opened lower today. I figured the amateurs would at least buy this AM. That did not happen either.
· The trend as stalled or reversed.
· Had to sell and regroup.
Colgate is a stock that should be closely watched. They are going through some hard times but this is a set up for a trend up at some point in the future. Stay tuned…
Monday, October 04, 2004
10/04/2004 - Notes
P.M. NOTES
LBY - stock was up strong this AM then moved into neg territory. I have a stop in place so I know my max loss. I want to give this stock some breathing room but I have to be careful since it trades about 51K shares.
LBY - stock was up strong this AM then moved into neg territory. I have a stop in place so I know my max loss. I want to give this stock some breathing room but I have to be careful since it trades about 51K shares.
Friday, October 01, 2004
10/01/2004 - Notes
A.M. NOTES
EPD - stock still showing strength. All EMAs lines moving up.
PIR - Here again, this stock is in a trading range. No action or concern until this stock moves out of "normal" trading range. No one knows how long this will take.
P.M. NOTES
LBY - This is an interesting company. Supply tableware products in the United States, Canada and the Netherlands, and exports its products to 75 other countries. Technically this stock was over-sold. Bought at $18.99. Stop at $17.47. Company plans on selling its manufacturing unit in California and move to China and Europe.
Remind me to write about Bill Belichik and winning.
EPD - stock still showing strength. All EMAs lines moving up.
PIR - Here again, this stock is in a trading range. No action or concern until this stock moves out of "normal" trading range. No one knows how long this will take.
P.M. NOTES
LBY - This is an interesting company. Supply tableware products in the United States, Canada and the Netherlands, and exports its products to 75 other countries. Technically this stock was over-sold. Bought at $18.99. Stop at $17.47. Company plans on selling its manufacturing unit in California and move to China and Europe.
Remind me to write about Bill Belichik and winning.
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