Monday, December 17, 2007

My Trades on 17 December 2007

2 good trades that I have made today were BMC and MU.

Name of the Company: BMC Software Inc
Symbol: BMC (NYSE)
Sector: Technology
Industry: Software and Programming
Position: Short
Status: Success!

BMC software came out in the Barron Report as the following link, so I have included the stock inside my quote board.

BMC Software Set for Fatter Margins
Word Count: 413 | Companies Featured in This Article: BMC Software, International Business Machines, CA

BMC Software (BMC: NYSE) By Credit Suisse ($35.30, Dec. 13, 2007)

WE ARE UPGRADING BMC Software from Neutral to Outperform and raising our target price to $41 from $34, based on an improving mainframe-software-pricing environment, our expectation for growth in mainframe software over the next several years, the upcoming release of the next generation of International Business Machines mainframe hardware, as well as the opportunity to expand operating margins above consensus expectations.

Our channel checks suggest that CA and BMC have experienced more pricing ...

When the market opened, BMC was dropping in a nice downward trend ( even through it was upgraded). So, I have decided to short the stock and gave it a try. The stock just kept on sliding down and I have shorted more. When I was in the money, I put a tight stop at around $35.15 in case other people wanted to take profit or the trend reversed. It triggered my Stop and it went down further to $34.71.

Short BMC Software  Chart

Name of the Company: Micron Technology
Symbol: MU(NYSE)
Sector: Technology
Industry: Computer Storage Devices
Position: Short
Status: Success!

The next Trade was MU. Before I traded MU (MICRON TECHNOLOGY), I knew that it will announce its earning on coming Thursday after the Market close. When I first took a look at the stock, it was about 10:30 am. I was not happy as I missed out the downward trend in the morning. So, I just shorted 100 shares to try it out. After I have shorted, my boss shorted more shares and I just followed him to short more shares on MU. We waited for some time as it was consolidating at the figure ($8) and after a while when there was not more buy pressure, it just tanked and we slowly sized out to take profit from MU.

Short Micron Technology Chart

News on MU at 11:56am I know that I was part of the traders who have shorted the stock!

*Please be informed that all the charts above are extracted from

No comments: