Tuesday, December 06, 2005

EXEL Short Position Closed

EXEL: entered 1200 shares short @7.87 on Nov-30, position closed @.8.80 on Dec-06 for 11.8% loss. GTOP: entered 1200 shares short @8.10 on Nov-30, stop loss @8.91 C: entered short @48.76 on Dec-05, stop loss @50.05 I am not very happy with my EXEL play. First, because the position got closed somewhat higher than my stop-loss @10% when the stock opened sharply higher today. Secondly, because the stock immediately started to trade lower and is trading @8.26 as I am typing this. Had it opened a little lower I would not have had my position closed for 12% loss. But such is the nature of the fundamental news – they can move a stock noticeably and there is nothing that can be done about it. I am going to see if my system still indicates Sell Signal for EXEL over the next few days/weeks. I would not be surprised if re-enter the short position again later this week.

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