Thursday, May 21, 2009

Secondary Account Notes /last trade in CL july 61.25

I know that I have been telling anyone who will listen to take some of the profits we are making and start accumulating equities for Long term. Yesterday I sold my stake in US steel at 32
If you remember I also said it is okay to sell a little when they scream for it. When it seems like everyone in the world wants it and it will never go down again if you are long especially from prices ranging between 17-25.5 Go ahead and sell. I want to own this stock and when it gets back to 27 I will in the meantime even without transferring more Oil money I will be able to buy more shares should that happen. It dropped to 29.70 already today alone. I was chomping at the bit to buy it back but I'm gonna wait-It has made several trips between 25.87 and 32.5
This is the first time I lightened up.

 We are up $2oo on the overnight play so far but we are gonna risk it with stop 1penny over break even at 61.06(cover commissions as well you know)



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