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My Dryship Trade - Profit 3K Date Bought: Aug 9, 2010
Price: $4.99
Quantity: 24,000
Reason Bought: Chart Shown a Smooth Uptrend Pattern
Mistake: MACD and Stochastic already shown an over stress indication.
Lesson to be learned: Should have waited a bit longer. Do not have the patience to wait. Date Sold: Nov 11, 2010
Price: $5.14
Reason Sold: The Bollinger Band indicator has shown a reversal pattern, the stochastic blue line is almost crossing to the red line. The MACD indicator however show that there is more room to go before it reverse. True enough, the same day after I sold the stock shoot up to $5.60.
Lesson to be learned: Should have waited a bit longer, however, I am afraid that I will lose back the 20% that I have waited for so long to rebound. That is why I firmly believe that buying at the right time is more important than selling at the right time. I would have make more than 20% or above if I have waited for the stock to come down at $4 first.
Profit Earned: $3K
Posted by The Market Oracle at 5:40 PM Labels: DryShips Inc

