Could Have Been Worse

I sold BIDU today. I moved my stop up to $390 after market open, and was hoping for $400. I was stopped out before it reached me target. My results were:

BIDU: +$40

Because it was a $350 stock, I didn't buy the normal amount of shares, but it was enough to cover most of my losses for the week. I am ending the week -.54%, whereas the DOW ended the week -1.53%, the S&P -1.67% and the NASDAQ -.22%. With the 2 big gap downs in my account this week, I will consider myself lucky. I am also grateful I passed on CROX earlier this week. It was on my screen on Sunday night, but I didnt put in a bid. Had I bought it, I most certainly would have been holding it during its 20% gap down this week.

I was stopped out of RIO on Thursday after moving my stop to break even, which just happened to be the dead nuts low of the day:

RIO: b/e

That's what I get for using an obvious stop. I entered PCZ today and am still holding. A Zanger pick, although he pointed it that it is not a momentum play. Otherwise, I am in cash. So much for me saying "I want to be in stocks right now" on Monday. Blogging keeps me honest.

There was an interesting discussion at Boogster's Blog on momentum trading earlier this week. I didn't participate, but I do have some thoughts. I may share them this weekend if I have time.

I'm out.