Market Flogging

Trend trading in the stock market

Monday, October 02, 2006

Morning Update - HET, DRYS

I opened up my IRA account this morning to find it way up with a down market. Scanning through, I found HET up 18%. Seems they got a buyout offer this morning for considerably more than the Friday close. I sold my shares for a tidy 24.5% profit in under a month. A huge jump on buyout rumors is one of my sell triggers, the other being any other reason the stock jumps way out of its channel that may not signal a new, higher trend.

DRYS broke down on Friday and reached my stop today. Bummer. I was hoping it would hold in there for a while.

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