Patrick's Rants


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1/26/2012

CMRG Partial Close

Filed under: General,Money,Stocks — site admin @ 7:24 am

Closed 200 shares of CMRG at 3.40. It looks like the new range is 3.10 – 3.40, so the buy order is in for 200 @ 3.10. I had actually bought 200 shares @ 3.97 (11/9/11) and 100 @ 3.20 and with commissions my average share price is 3.78. This is a net loss that in theory lets me back in at the lower range. It was not my original strategy to lose money on this trade, but I’m still in 100 shares and I’m looking at this apparent new range to roll a few times 3.10 – 3.40 to recover some of this trade down.


Disclaimer: I’m trading CMRG.

3 Comments

  1. CMRG lowered the sales forecast so the stock was slammed first thing Feb 2. My limit order was executed at 3.08 – the stock went lower and I’m nearly back to “even” by 8am, Feb 3. I still have the sell order in at 3.40 for not quite 10% on the trade.

    Comment by site admin — 2/3/2012 @ 7:57 am

  2. 200 shares bought 2/3 sold 2/6 @ 3.40. Not a bad profit for 3 market days: $0.32/sh before commissions. I have to wait for settlement (T+3) to get back in, then I will reuse the order.

    Comment by site admin — 2/6/2012 @ 5:49 pm

  3. Back in @ 3.10 this morning. The sale order triggers as soon as the buy order is executed so the order is in to sell @ 3.40. Let’s see how many days it takes to make this next turn.

    Comment by site admin — 2/10/2012 @ 7:54 am

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