Monday, August 27, 2007

Day Trade DRYS

Made a day trade today - DRYS: +$1.64

This was a Zanger pick last week when he recommended buying this on weakness. Buyers then would have done very well. I prefer to buy strength, so I bought today. It's showing some great momentum on the daily chart, and it could very well go higher. So why did I sell today? Good question. I prefer to take small profits in this market. If the market holds up, then there should be some nice swing trade opportunities in the fall. Until I see some signs of that happening, I'll stick with taking profits early.

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