Monday, May 14, 2007

I need some stock trading advice . . .

Well, it's Monday morning and I'm already making big mistakes. I wrote yesterday that KRSL dropped off my screen. I figured that this morning I would keep an eye on it and sell it if things went downhill. My hope was that I would make a few more bucks.

Things went south fast and before I knew it KRSL was down over 12%. I watched it to see if it would come back and it flirted with -8% a couple of times and then went back to -12%. So I begrudgingly sold it at -10%. I should have put a stop on it before the open, but I was worried about a big premarket drop. There was one, but not as big as what I ended up losing because of my greediness. Another lesson learned (but probably forgotten in the next 10 minutes).

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