The meeting last night March 12, 2008 was a round-table success. Many ideas were shared in depth and others brought up many questions. The group picks using money management, as discussed last night, have been working very well. Remember, the goal is not to be right, but to make money and that involves cutting your losing positions. If you'd like to add insight into your pick for the month, then click on the "post comment" button below. Let's hope we can keep delivering 15% returns with less than a 1% monthly drawdown like we have in the six months since October. I'll post the 11-day average true range soon.
Jim McCarthy, Long OI
Mike Gallager, Short DIA
Suzy Dinelli, No Picks
Arnold Ellison, Short FXI & Long AUY
John Wilburn, Long AEGG
Miriam Bakker, Short FXE & Short oil (USO) & Short SLV
Joe Boccuzzi, Long SPY
*Peter Afif, *Long TMA & Long AET
Bob Gifford, Short QQQQQ via Long on QID
Stan Katz, Short EUE/USD
Herb Poder, Long GSG
Mark Juviler, Short Soy Beans & Short DIA & Long SCSS
Tim West, Short TLT
Pamela, No Picks
*Previous contest winner for Feb-Mar'08 with DBA Long
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11 comments:
Mark Juviler would like to lower his stop to his entry price on his short-soybean trade. The entry was the opening price on Thurday, Mar 13.
10:33AM Mark Juviler would like to cover his bean short position.
10:57AM Mark Juviler would like a breakeven stop on his SHORT DIA position. And to recap his Soybean Trade: Sale on Thu, 3/13 at 1404 using the opening of the day session. Covering at 10:33AM today 3/17 at 1302 3/4. The average daily range of the day-sesion was 35 cents. Nearly a 3R profit for 1 of his 3 picks.
DBA STOPPED OUT FOR A 3R LOSS
DBA opened last Thursday at 42.39
[12:17:37 PM MAR 19, 2008] The 11-day-avg range was 1.66. Entry of
42.39 minus 3 times 1.66 avg range = 42.39-4.98 = 37.41 stop loss. A 15-day avg range calculation = a stop 24 cents higher. DBA is currently 37.33 with a 37.31 low. It was "stopped out" for a 3R loss.
Mark's short DIA position was stopped out at breakeven on 3/17 as noted. Nice job Mark!
TLT is close to the stop-out level of 98. Today's high was 97.75.
Miriam's silver short-sale is a home run. Not sure if she'll close it out at these low prices. I'm buying silver for myself down here at 166 on the SLV!
Trade well!
3:27PM Thursday Mar 20
HAPPY SPRING
wow Microtune got a haircut due to what they consider "unfair competition", they were positioned to dominate the conversion to digital TV next year. Their patent portfolio is still the best in the industry its very cheap at $3.50 now 's time to buy for the long haul. I think this recent selloff is an overreaction. I have been buying AEGG the last two weeks in the 60's.
this is what will happen with AEGG soon.http://biz.yahoo.com/pz/080328/139008.html
a quick double on one news release
seems the link won't work
its QBIK.ob a microcap gas co
Thanks John for the heads up on QBIK.ob
John,
Please contact me ASAP.
Regards,
Tim West
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