Written by Patrick McCubbin
Exact Stock Picks
Good Afternoon,
Today’s market activity reminded us of a dark drizzly fall day. No torrential downpours, but an overall disappointing day overall. Even with this negative backdrop to the markets we did manage to make a couple of moves today.
A less than spectacular earnings report coupled with a reversing trend led to a large sell-off on our short position of Hospira (HSP). We bought back our position to cover and left with a nice 8.7% gain, or $504. Not bad since we only held it a week.
We also stopped out on our NetApp (NTAP) yesterday at $43.50. We wanted to keep a profit on this stock so we moved up the stop-loss. We got sold out but still locked in a profit of $98. As far as we are concerned a small profit beats a big loss.
We also closed out our 300 share position of Manitowoc (MTW) as it also hit our stop price of $10.40. This resulted in a small gain of $147.
We stopped out again on Energy XXI (EXXI). We got hit in the face with a frying pan with this one. It stopped out within a day of buying it. Anyway, when we’re wrong, we get out quick. We took a $254 loss which equates to 7%. That’s about all we’re willing to be wrong.
AstraZeneca PLC (AZN) had some positive news today on one of their drugs and was up over 3%. We should keep seeing this stock move up.
The rest of our stocks were unchanged for the most part. We look forward to another exciting day of trading tomorrow. See you in the morning!
TEN Exclusive: Portfolio Update – 7/28/10 is an article from: 
