Nice Trade
November 23rd, 2005 by BWV
Glad I took Steve Miller’s advice on this one.. “Go on, take the money and run”..
Entered CMED in the tight 2-day range contraction last week.. in the high $29’s..
Sold 1/3 in the mid $30’s, and the rest yesterday at $39.50. It was the fourth consecutive big up day, so about time to lock up those windfall profits.
CMED went as high as $42.60 in the next 2 hours after my sale. But with all of the 4 day (35%) move erased just 24 hours later, I can’t beat myself up too badly.
Best trade this month.
Update: Trader Mike explains how he caught a nice short on this vicious selloff.
A truly amazing drop. Once again, nice trade! I’m glad you got out before the music stopped.