The Dean’s Trades: Covered IDEV +13% Profit
September 26th, 2008 at 2:16 pm Posted by The Dean
Well that 51 min trade goes straight into the books as one of the quickest 13% returns ever for The Dean. It didn’t really take rocket science to find a cracking point in a stock up +100% before noon in such a fear-driven market. I timed it almost perfectly too… intraday high was $3.80 & intraday low (after the spike) was $3.18. So I guess the ideal trade is an 18% gain but i’ll take my profits and move on. If patience was one of my finer qualities, I could probably bank even more $ by waiting till next week.
This makes 2 successful trades in a row locking in 13% returns each time. I still hold some open positions but I’m confident in my reasoning.
