Wednesday, April 7, 2010

Trade 257 exit and Re-entering UNS

So fortuitous action saw my long position on Trade 257 take a 30% spike after the fda approvals got announcemed over the weekend.

I conservatively banked as much profits as I could yesterday exiting 1000@1.285 and 650@1.315.

I re-entered the position today Trade 262 uns 700 long @ 1.175 as much more profit taking took place, but on low volume, indicating that the new uptrend is likely to continue. I also got word that the US equivalent price had hit 1.70 at one stage, leading me to believe we still have upside to 1.44.

If the price falls again tommorrow, I will buy another 500-1000 stock.