Thursday, May 7, 2009

3rd time again's a charm


The two overnight sales did not hurt us but the third at last helps as anticipated pullback occurs at last.   Members were advised to sell at 58.25
Oil  finally draws in  to 57.37 showing persistence works move stop to 57.62 protect $600 and see what happens. 

Secondary Account notes
I was thinking And I think i posted that I was going to sell 
the equities and buy them back Us steel was at 32.96 lost 3 points and Rimm lost 5 points-let's face it they took that one up way too far way too fast and Citi settled down to $3.75 from 4.48 just today these are huge moves! Citi gets back under $3 we are going to buy more but we we probably should have fed the crazy's yesterday even though this is the retirement account not a day trading vehicle it is okay to make adjustments next time they get nutty I will.
These are long term positions and we really look to accumulate on dips but they really went crazy yesterday. I hope I don't need to tell you to adjust stop lower agin as oil cracked 56