Tuesday, November 05, 2019

Tuesday 11/05/2019

7:30am (CST)
     I will see the market at the opening but I have a standing obligation on Tuesday mornings that take me away for 4 hours or so.

     I missed the pullback on OLN early in the market yesterday and then it started to climb. I like a price pullback of 1% or more in an up market and 2% or more in a down market. My reasoning is two-fold, first I pay less for the stock but even more important is the fact that I know the stock has traded higher in the near term.

     Stock price pull-back and a dividend ex-date in a week or so just increases the chances of it being a profitable trade. Stocks like to run up before the dividend ex-date because the dividend is "money in the bank".

8:03am (CST)
     Entered "Limit-Day" order for 2 shares of OLN @ $18.50.

12:10pm (CST)
     Home for a few minutes and off again. Leaving my OLN @ $18.50 in place but I will be back before the market closes.
     Please read the interesting comment below.

12:25pm (CST)
     Entered "limit-day" 1 share HP @ $41.15.

2:10pm (CST)
     1 share HP @ $41.15 filled 12:29pm. HP was down $0.73 (almost 2% from yesterdays close and down over $1 from todays high) when I bought and ex-date 11/7 with a $0.71 dividend.
     $41.15 is higher that my last sell price of HP @ $39.58, each trade is independent of the last and is based on the information at the time of the trade.

Disclaimer, I am not a professional.



Anonymous said...

I don't see how you ever get anything bought with your low ball bids.

squire said...

Thank you for your comment.
At 10am when you commented it did indeed look like a low-ball offer but when I placed the bid (before the market opened) it was about 1% lower than yesterdays close (it was up yesterday).

I was not here to watch the order and that was the price I was comfortable paying at the time I placed the order.


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