day trade madness

Tuesday, February 06, 2007

the madness continues: after making money on FER, though not as much as I could (and now being nervous about buying back into it), I was considering selling out of LAF, a mining co. that was hit by a typhoon a week after I bought in. luckily I didn't, as today they had some news about some resumption of operations - as yet unconfirmed - and on Thursday will likely get the go-ahead from the relevant government. the shares have now risen to my target price (a $500 profit instead of the $800 loss I was looking at), and I think I will wait and see what happens Thursday, as I'll be at my desk and able, I hope, to pounce at the optimum time. of course the news could be bad, but I think I'll take the risk on that. have no cash free right now as it's all tied up and waiting waiting. which means I risk having to sell out to fund ongoing other projects, which I don't like. so I hope the news is good Thursday and I can make $1000 and get my "stake" back as well.