Saturday, April 01, 2006

no more swing trading for my ira

I sold both ASVI and JOYG yesterday through stops.

JOYG I set a stop at $58.96 above my buy-in of $57.90. The thinking here is to never give away a profit. Of course, it ended up closing at 59.77.

ASVI once it broke back above my purchase price of $34.11, I set a 7% stop. It sold out at $31.92, then closed at 32.22.

This has me once again wondering about the wisdom of stop orders.

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