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Sell High, Buy Low?
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Toward the end of last month I decided to change part of my strategy and try more active trading. During the recent rally, every time a stock took a surge I sold it out of my SLO portfolio. The rally lasted a lot longer than I thought it would so I sold quite early and kept cash longer than I thought I would. At the beginning of this, past week I decided it was time to buy back: CLF, GTLS, TNE, EDU, LNN, GTLS, AG, STRA and FSTR. I decided not to buy back PBR, CHL, HUGH, GGB, TNP and HDB but will probably replace them with something else. For the moment, I decided to get more VE, ESV, HEI, MT and RIO (which I hadn't sold during the surge). Well, the market did fall and most of sold-on-surge stocks fell with it; however not nearly far enough to reach my limit order price for them. The exception was FSTR which, I am embarrassed to admit, I bought immediately due to my mis-typing the limit price incredibly low. We'll see what happens over the next week or two with my new "sell high, buy low" strategy. Lindsay Corp. (LNN) is the one stock with which I'm pretty sure this strategy will fail. Since I sold it, the price has simply gone so high that I doubt it will ever fall to my limit order level. I may end up with "buy high, buy back even higher" for that company. | ||
