Monday, November 20, 2006

bye ULTI

Sold ULTI this morning for a 4% loss. It never really broke down, but
it never broke out, either. It just drifted down toward the 50dma. I
may have sold too soon, as it hasn't closed below it yet and is in fact
bouncing off it this morning, but it wasn't looking like a winner and
was the worst performing of my stocks.

If it does recover and go on to break out, it will be a lesson to not
get out of a stock until your rules force you out.

Besides, I wanted to buy NSTC and I already have too many stocks, so I
had to cut one. I currently hold 6 stocks, which is too many, my goal
is to have no more than 4 at one time. Although 2 of my stocks are 1/2
stakes in winners that I have already cashed out some profits on and am
letting them ride.

I did break one of my rules by buying during the day, but I had planned
to buy NSTC and forgotten to put an order in. Besides that, I got it at
16, when it gapped up to open at 16.24. And 16 is still within 5% of
the 15.25 buypoint.

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