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As the Dow nears its 11,000 ceiling and bounces off of it, many have been wondering where all this strength is coming from. Many of the stocks I regularly trade have been active, yet those I hold have been penny bound.
Having bought both sides of the coin on UAUA, it has stagnated in the 19.20 to 20.20 range after jumping $6.00 since I last sold the stock. The options I hold are a small fraction of the gains made, selling it on a trailing stop in January.
The surprise has been RDN, which is usually very volatile and rarely stays at its top or bottom for more than a few days.
After holding at $224 for two weeks, AAPL jumped again. I sold this one in January for a $20 per share gain and neglected to buy the dip at 190 again.
Yesterday, SSN popped for its second leg up, hitting .85 - sure to be short lived. See the chart below.
Current Holdings
Symbol | Security | Entry | Last | Change | Exit Plan |
QTWW | Stock | 0.9179 | 0.686 | -0.2319 | N/A |
BCON | Stock | 0.44 | 0.4422 | 0.0022 | N/A |
UAL.Apr.25.Call | Option | 0.18 | 0.04 | -0.14 | N/A |
RDN.Apr.10.Put | Option | 0.10 | 0.05 | -0.05 | N/A |
UAL.Apr.15.Put | Option | 0.23 | 0.04 | -0.19 | N/A |
I have always doubled up on SSN, but in this case, I would have to say I did not see the second run coming. SSN hit .37 about 5 days after I sold it at it's peak of .57
I have made the mistake of getting back into this stock too soon many times. I normally buy back in anywhere below .33 and sell between .55 - .60 with .30 being the absolute bottom over the years. Last time, I held through the dilution and, of course, doubled up with a cost basis of .27 / sale at .57
The following chart shows where I have bought in (Green) and where I got out (red).
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