Friday, July 22, 2011

Sold Partial MS Position...


... at $23.88. Not sure if it was the right thing to do as from bid volume alone, it appears that there's still support at this area moving into $24 during the final minutes of trading.

Still, I've banked some profits and will continue to monitor MS whilst keeping an eye on other financial sector stocks. One potential course with my new moola is to buy MS again at my original entry of $21.88 with an option to trigger the execution of another stock at my preferred price level.

Another European bailout has been launched, potentially paving the way for future default possibilities, which means that in the very near future, any such rumours could prove to be good buying opportunities of European stocks. If the bailout amount were any higher, this could have appeased the market. However, given the circumstances, no one really knows what to expect, which means I'm going to be looking for distressed sales opportunities. Just following in the footsteps of 9 Figure Man...

-0.69% SBA
+0.55% Roth IRA
-0.34% DJIA
+0.86% Nasdaq
+0.09% S&P


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