Monday, February 8, 2010

Update 2/8

Copper went up five cents today, ending at $2.9250, and so my stop was triggered and I'm out of this trade. I "sold" one copper at $3.25 and the other at $3.12; therefore I made $8,250 on the first trade from $3.25 and $4,875 on the second one from $3.12.

Balance 12/28: $9,625
Loss IBM 1/22: -$180
Copper 2/8: +$13,125
___________
= $22,570

From here, I'm going to "sell" a copper at $2.81 and "buy" at $3.05.
My guess.. we head lower and the "sell" order gets filled by 2/12.
Both will have tight five cent stops again.

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