EDGE TRADER

Thursday, September 29, 2005

Recap


Day trade in CELG -0.3% - no dice. This one stopped me out and rose a half point before I could set up again. Score one for the market maker.

Day trade in GLBL +0.4%. Thought about holding overnight, but this issue is a little thinly traded for my taste - I'd rather wait for a better pull back to buy this one.

Purchased ENC towards the close. This one has lagged CHK which seems to be the more favored gas play by portfolio managers. I am hoping some will book profits and distribute new money next week into this security. I have been having trouble finding good pullback entries on hot energy plays like this, so instead I am going to slowly average my way in with multiple purchases of small stakes. I am going to try to focus on the home heating and oil service companies for my energy plays and try to avoid drillers and refiners from this point on. I see less catalysts in the latter two as the summer driving season wanes.

2 Comments:

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