Monday, August 07, 2006

End of the week summary...

I have a ton of things to post over the weekend, so much like the last, I will do it in parts rather than try to remember post everything at once.

Closed both the SPLS and FRK trades. SPLS was great, FRK not so much. Even though I lost a little on FRK, I certainly learned a few key points on how and when to trade. Comparing SPLS to FRK is quite informative. The main take-away from FRK is chasing stocks is dangerous. The stock was up 5.5% forming the bullish engulfing. That kind of move is what I want for my trades, so in many ways, the move was complete and I was late to the party.

PM window trade details: SPLS sold 6.14247 shrs @ $22.939 and FRK sold 3.75 shrs @ $38.547

SPLS: +$15.40 or +5.74%
FRK: -$4.42 or -2.97%

Very few charts returned after the close, 35 to be exact, and only two candidates from them: UIS and UTSI. The FRK trade makes me slightly gun-shy, but if the opportunity presents itself on Monday, I'll make the trade.

For now,
Masterjaz out

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