ITA: 08 May 2012 | Start of the Beginning

Start of the beginning.

Finally, after months of delay and indecision, here is my first ever ITA. 

And what a way to kick things off by declaring to the trading universe of a proud and glorious decision I made today – I stopped losses as my exit price was reached. And yes, proud is what I am but you bet it sure still hurts. The indecisive culprit is none other than LPZ.

Position Entry Exit % Change Days Held
LPZ 5.86 5.53 -5.63 20

Apparently, I was already so late entering into this stock which appeared to have formed a sound cup and handle pattern (on the weekly chart) which indicated a then buy point at 5.52 (3rd week of March). In hindsight, I had this stock at almost its peak thinking that it has broken from its consolidation.

On brighter side of things, MEG has been showing signs of regaining power and momentum from its short-term consolidation. Volume is still fairly high as Macquarie and UBS are still at it, although not as much as they were yesterday and the previous weeks.    

Position Entry Exit % Change Days Held
MEG 5.86 5.53 -5.63 20

Markets globally continue to be affected by EU worries with Greece, struggling to form a new government as of the moment, being one of the main concerns. U.S. markets are down sharply as of this writing.

>> God is good all the time 🙂

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