Wednesday, August 24, 2011
Trade Update: SKF
Yesterday I moved our stop in SKF up to $84.40 and we were stopped out there shortly after.
I put a three-year chart of SKF. When I bought the hundred shares I thought that the DOW would go to 6000, I still do. But obviously it's not going there in a straight line. I think we'll have plenty of opportunity to profit on the long side of SKF as the market continues its torturous trek down to the bottom. But right now I think a decent rally is taking hold.
So, we are out with a $1550 profit.
Buy SKF 100 @ $68.90
Stop @ $84.40