Wednesday, July 26, 2006

Profit Taking...

Both ZMH and AFFX reached my first targets early this morning, so I am going to be responsible rather than greedy and take profits. I closed the AFFX after reconsidering. I was only going to sell half, but based on the market and sector performace coupled with the 1/2-sized position from the beginning, I though it better just to close. Also, nearly forgot that ZMH reports after the close today, so I will likely close the position this afternoon. I don't want to hold a trade through earnings, just look at CHH!!!

AM trade details: ZMH, sold 2.43371 shrs @ $58.78. AFFX, sold 7.04887 shrs @ $22.43. I'll calculate net profit and percents after the full positions are closed.

AFFX: +$8.10 or +5.40%

PM trade details: ZMH, sold 2.43371 shrs @ $59.24.

ZMH: +$19.02 or +7.09% (My best trade to date!)

OUCH on CHH, but that's life. On the bright side, the dividend is safe and now has a higher yield, sic.

For now,
Masterjaz out

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