I had many good trades on 28 December and only a few small losing trades.
Name of the Company: AMR Corp
Symbol: (NYSE: AMR)
Reason: Dow was positive but I saw that Airlines Index was negative and some airlines were coming down. AMR seemed to continue yesterday's downward trend. I took profit when I think that it has made a major move.
Name of the Company: Northwest Airlines Corp.
Symbol: (NYSE: NWA)
Reason: Following the AMR trade, I saw that NWA has good downward trend, I shorted it and took profit when it was near the $14 figure as I afraid it would bound back. It did bound back HARD after broke through $14 and touched the low of the day at $13.91
Name of the Company: Bricker International Inc.
Symbol: (NYSE: EAT)
Reason: Dow looked weak and it was almost negative, EAT had good downward trend. I shorted and took profit quick as it was still a low volume market
Name of the Company: General Motor Corporation
Symbol: (NYSE: GM)
Sector: Consumer Cyclical
Industry: Auto & Truck Manufacturers
Reason: Toyota Took away market share from GM, it had downward trend on 27 December 2007 and it continued again on 28 December.
GM happened to be my biggest winner of the day, although it has made a major move in the morning, it was still in a good downward at about 11:45pm until the low of the day at 12:45 pm. I shorted GM and sized in when I saw the trend was good.
Name of the Company: Sovereign Bancorp Inc.
Symbol: (NYSE: SOV)
Sector: Consumer Financial
Industry: S&Ls/Savings Banks
Reason: My colleague shorted this share and I saw that it was in a good downward trend and it has spiking volume before I got it. I took a quick profit from it at the point it started to change trend
*Please be informed that all the charts above are extracted from http://finance.yahoo.com/charts
2 months ago