Archive | 2.33

Topping Up

21 Sep

Since my last trade in Cliffs Natural Resources Inc, I’ve been keeping a keen eye on this stock to re-enter my position.  For the last few days, it’s been taking a beating for some reason.  Today, it drop more than $5 per share in the early morning session, I decided it was time for me to pick up some shares.  200 @ $65.07.  I hope this is nearing the support where potential buyers see an opportunity to gobble up at these prices to drive up the price again. 

The last few trades I’ve made with Cliff has been somewhat successful:

  1. Bought at $92, Sold at $98
  2. Bought at $92, Sold at $98
  3. Bought at $86.60 & $71.85, Sold at $83

My new strategy of swing trading has been helping me lock in some gains. First opportunity I get, I’d sell my shares for a profit and move on.  If I had kept my orginal shares @ $92, I’d be stuck with a big lost with no opportunity to sell!