The Ambitious Trader: Stocks, Trading, Investing..My Ambitions as a Trader and Investor

This is a one way ticket that takes you on a wonderful journey into the vast world that is the stock market through my eyes, my point of view.

Friday, October 06, 2006

Profit-Taking Wipes out Some Gains...

Profit taking officially started today since yesterday's market action ended on a positive note. Unfortunatly, todays action was definatly not on a positive note at all, with most stocks encountering losses. I was able to get in some buys, but decided to not put too much in it because I am waiting for a few IPOs to premier this coming week. I will have my eye on APKT and SAI. SAI will be more of a long term play, while APKT will be more like a trade. But I will ultimatly see how I play 'em when they debut.

Note: Picked up some more ZONS at the dip between 12.07-12.12.
Also felt some gains on a CRM position that I had from 36.74 ...CRM closed at 40.36 today on short covering and an upgrade.
On the down side, my small position in PSYS suffered an almost 5% loss today. Gotta see how it reacts next week, otherwise I have to let it go.
My other portfolio fav, TAM suffered a small decline. I decided to add a little to this one as well today. I believe that we shall see 35's on this one very soon.
I also started my position in NWK at the 4.35 level. So far so good!

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