Trading Iomega Stock - Sold IOM on 5% trigger
- 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
- Hardware Stocks
- Software Stocks
- Israeli Stocks
Copyright 2005 by Morris Rosenthal
All Rights Reserved
Today may be my last trade before I go to a more measured pace. I needed to unload my 1000 shares of IOM on the 5% trigger rule, which is going to mean a further loss. Waited most of the day, price started slipping again so I sold just after 2:00PM for $4.38, or a $340 round-trip loss (including trading cost). The semiconductor stocks are all falling on Intel's "good" news, waaaa! I'm finding that the forced trading pace is causing me to make trades based on the clock, sort of like being a daytrader, I suppose. Unfortunately, I don't have a streaming feed (apart from the CNBC ticker), so it's a pretty random affair. I'm sorely tempted to sell the IOM at any price and buy a few hundred more shares of MU at the current "sale" price, but maybe I'd be better off buying GM. The Federal pension guarantee outfit just got stuck with $3 billion for one of the airlines, wait until they get stuck with GM, who's still paying a dividend, I may add.
Of all the stupid trades I've made, I think IOM was the worst. The only reason I bought it was it had a cheap share price, so if it went up, my 1000 shares would get me back in the game in a hurry. Instead, they account for nearly my whole gap with the QQQQ's. I'd already written up some notes on IOM and concluded it wasn't a stock I wanted to own, this makes the second time I've taken a loss on them, hope I learned my lesson. At least the lesson was with tax deferred money.
| Symbol/Index | # Shares or Cash | Purchase Price | Day High | Day Low | Today's Change | Closing Price | Closing Value |
| AMD | 200 | $17.13 | $17.22 | $16.30 | -0.66 | $16.36 | $3,272 |
| SYMC | 100 | $21.19 | $21.69 | $21.07 | -0.15 | $21.11 | $2,111 |
| MU | 300 | $10.64 | $10.77 | $10.38 | -0.27 | $10.42 | $3,126 |
| Portfolio1 | $15,560 | N/A | $24,069 | ||||
| Dow Jones (DIA) | 230.251 | $108.45 | $108.81 | $107.65 | -0.66 | $107.81 | $24,823 |
| S&P 500 (SPY) | 206.254 | $121.21 | $121.72 | $120.16 | -0.86 | $120.38 | $24,829 |
| Nasdaq (QQQQ) | 658.241 | $37.98 | $37.82 | $37.07 | -0.35 | $37.17 | $24,467 |
1Portfolio balance is after all trading costs in SEP brokerage account with BrownCo