Clear Trades

I took another position in UYG this morning. It was in a low volume trading range at the time, and I’m expecting a break-out to the upside later today or tomorrow. I set a stop loss at 2.54 so this will have a little room to move, but won’t do too much damage if I’m wrong.

Buy, UYG

Bought 140 shares of FAS at 6.68, with a stop loss at 6.32.

I took a shot at FAS this morning, but I picked the wrong dip to buy. It dropped to about 6.00 a little while after I bought, and that would have been a good entry point. I entered at the wrong time, but I’m happy I set a stop-loss and stuck with it.

Realized a loss of $63.00, for a return of -6.69%.

Buy, FAS, Losses, Sell

*Note – This is an old trade that I’m posting for tracking purposes. Follow me on Twitter or StockTwits to keep track of my most recent trades, as close to real-time as possible.

Finally emptied my UYG position. This is another example of a trade that I let get away from me for way too long. I stuck with it, and kept averaging down. Things were painful for a while, but I was finally saved in the end by a nice Financial sector recovery. This trade worked out, but it wasn’t a smart way to go about it and I won’t soon forget the pain I was feeling on this one. Hopefully that is a lesson learned for good.

Realized a gain of $1,825.95, for a return of 31.42%

Gains, Sell, UYG

*Note – This is an old trade that I’m posting for tracking purposes. Follow me on Twitter or StockTwits to keep track of my most recent trades, as close to real-time as possible.

Exited my FAS position. I got a little scared and felt like I had to take profits after being down so much on this one. That of course illustrates the problem of letting a bad trade run for so long and not going in with a stop-loss order. Lesson (hopefully) learned.

Realized a gain of $44.92, for a return of 1.93%.

FAS, Gains, Sell

*Note – This is an old trade that I’m posting for tracking purposes. Follow me on Twitter or StockTwits to keep track of my most recent trades, as close to real-time as possible.

Averaging down and adding to my UYG position. I continue to believe the Financials are oversold and the bad news is being overblown. I would buy more, but this is all I could buy with the remaining cash in my account.

Buy, UYG

I sold off my Citigroup speculation this morning at 1.45 per share. After we didn’t see any improvement or positive news over the weekend I decided it was time to let this one go.

I still expect to see a short-cover rally (there are 182 millions shares short according to shortsqueeze.com), but there is probably plenty more downside before that will happen.

Realized a loss of -$134.02, for a return of -15.73%.

C, Sell