Trading Iomega Stock - Bought IOM as Seagate Proxy
- 3/18 How Much I Lost
- 3/17 Sold SYMC
- 3/16 Sold GM
- 3/15 Sold MU
- 3/14 Bought GM
- 3/11 Sold IOM
- 3/10 Bought MU
- 3/9 Bought SYMC
- 3/8 Bought IOM
- 3/7 Sold WDC and MU
- 3/4 Bought WDC
- 3/3 Sold ELN and CRNT
- 3/2 Sold RSH
- 3/1 Sold AMZN
- 2/28 Bought ELN
- 2/25 Sold ATI
- 2/24 Bought AMZN
- 2/23 Bought CRNT
- 2/22 Bought ATYT
- 2/18 Bought AMD
- 2/17 Bought RSH
- 2/16 Sold SKE
- 2/15 Bought SKE
- 2/14 Bought MU
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Copyright 2005 by Morris Rosenthal
All Rights Reserved
Getting the gambler's urge, trying to catch up. Bought 1,000 shares of IOM on the open at $4.71, in hopes that the positive Seagate report would lift all storage PC stocks. IOM has been very well behaved the past week, up from under $4.25, so a good 15%. It got over $5 before falling back, if it gets there again, I'm out. Otherwise, the 5% band is in force. I'm feeling pretty good about getting out of MU yesterday since it's down $0.18 at the moment, but AMD is suffering as well on a general semi scare due to Texas Instruments. The only problem with IOM is I already lost my retirement savings gambling on them a couple years ago, bought around this price before the reverse 1 for 5 split. They also lose money, but hey, I'm not looking to marry the stock, I just want to make a few hundred bucks:-)
After bucking the trend and staying positive all day, IOM closed down a penny at $4.59. $0.12 under our cost, or a quick $100 loss. AMD also sunk under our cost by a penny today, leaving us down over $500 for the first time. Meanwhile, Elan has been on a tear, hasn't gotten back up to where we sold out, but it just might at this rate. On the bright side, both Micron and WDC have dropped since we sold them yesterday. So, I'm looking pretty stupid, but I'm learning something (I think), and at some point in the near future I may get myself off this enforced daily trading cycle.
| Symbol/Index | # Shares or Cash | Purchase Price | Day High | Day Low | Today's Change | Closing Price | Closing Value |
| AMD | 200 | $17.13 | $17.75 | $17.07 | -0.35 | $17.12 | $3,424 |
| IOM | 1000 | $4.71 | $4.79 | $4.56 | -0.01 | $4.59 | $4,590 |
| Portfolio1 | $16,471 | N/A | $24,485 | ||||
| Dow Jones (DIA) | 230.251 | $108.45 | $109.52 | $108.26 | -0.17 | $109.16 | $25,164 |
| S&P 500 (SPY) | 206.254 | $121.21 | $123.00 | $122.11 | -0.46 | $122.33 | $25,231 |
| Nasdaq (QQQQ) | 658.241 | $37.98 | $38.21 | $37.65 | -0.38 | $37.68 | $24,803 |
1Portfolio balance is after all trading costs in SEP brokerage account with BrownCo