Wednesday, May 31, 2006

Taking Some Trades

I am taking some money off the table in stocks I added over the last week or so. I am still keeping a lot of my longs, just closing out a few.

LQDT has rallied big since being profiled again in IBD late last week. The stock brokeout on huge volume last Friday, and has continued to climb yesterday and today. I took profits this morning, and will look to possibly get back in on some sort of pullback.

HWAY announced a merger this morning that was greeted bullishly by the street. The stock broke out to a new high. Although I usually like to hang on to stocks breaking out to new highs, this one was just a trade, so I elected to take profits.

And so you don't think I only highlight my winners, I was also stopped out on my CROX trade. I didn't keep as tight a stop as I would have liked, but elected to limit my loss to -15%.

I am continuing to look for new leadership, but so far I mostly see oil & gas stocks breaking out. The action in stocks like AAPL & GOOG today is pretty bearish. Tough market.

long GOOG


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