Trade Update - New Oriental Education (EDU)
New Oriental Educations (EDU) is up again today, after spiking higher yesterday on a surge in volume.I wrote about the stock a couple of weeks ago when I was highlighting a group of Chinese ADRs that were all breaking out. I even took a trading long position in the stock to participate in the momentum.
But last Thursday, when the stock made a new high and reversed lower on the day, I took profits. As Homer Simpson would say, "Doh!"
So I left a nice chunck of change on the table. It is what it is. I can't tell you how many times this happens to active traders. It stings, but second guessing does little to improve your trading successes going forward.
Better to simply review your trades, write down your reasons for buying and selling a particular stocks, and make sure you are adhering to your own trading principles and rules.
no position
posted by J. Kahn @ 10:37 AM
2 comments
2 Comments:
I remember when EDU took a big hit after they released less-than-perfect earnings. The stock has since been up anywhere from a plausible 30% to 40%.
I have been using PTI ProDirect (ptiprodirect.com) for several months now and I gotta say that not only do the rates work for me (lower than OptionsXpress) but the Trader WorkStation interface (just like IB) has the best tools for traders. I love the charts and if you’re a trader like me who likes the analytical “bells and whistles” – I highly recommend. Thanks!
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