Hooboy! NCP opened at 15.50 and hit a high of 15.70, just short of my 3% target. So do I dare hold until it has a down day? Talking to some traders hanging around #ipchat, I’ll hold until it closes down. Hope I’m not being too greedy, small gains saw me make 35% ROI over the last 100 days of 2001.
Buy 1700 NCP @ 15.28
Why? 2.5% fall from previous peak close of 15.675 on 28 Dec 01.
The stock went up then down to close at 15.209. Last trade was 15.22. I feel pretty foolish but I don’t try to pick tops or bottoms. There are three potential exit strategies: sell for +2.5% (15.66); or +3% (15.74); or sell after it closes down. Successful traders pick one.
Psychology of the Deal
Welcome to WealthEsteem — dedicated to the Psychology of the Deal.
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These are my musings on wealth creation, written during the quest for my second fortune. If my ideas work, great! See you in Monaco sipping Cosmopolitans. If they don’t, it’s a map of my folly. Hoist a cool drink to my memory and imbibe responsibly.
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