Day 7: Screwed by Credit Suisse

Sorry about the lack of update yesterday.

Ok, so my money making gem, Pulte PHM, was being as volatile as usual, and I made a few good trades on it today when news came out. This news from Credit Suisse upgraded PHM from a hold to a buy rating. I knew this was coming, but I am just heart-broken it happened so soon. I could have kept making a killing on Pulte everyday until the cows came home at 8.60 buys and 8.80 sells. Sadly, those days are over.

I bought some Patriot Coal PCX today to hold over night. It was trailing like dow today, and I expect it to make some rebound tomorrow, I actually feel I got it at a pretty attractive price all things considered - so a strong opening tomorrow will be more profits for me.

CTIC ended in the red another day, and I am a few cents away from being par with this stock, and I am beginning to get worried. I firmly believe in their product, but the FDA seems to have an interesting approach toward cancer therapy drugs, and I just think CTIC could just get screwed to send a message. At some point, if enough cancer drugs fail, maybe researchers just won't bother trying to produce them anymore, because it won't be viewed as profitable. If CTIC ever hits 2.30~ again in the next while, I'm selling out most of my position and I am just going to hold onto the "free shares".

That's my biggest worry.

I was shopping for stocks today to replace my dearly departed PHM, and my gaze landed on US Steel Corp X. On the next red day I come across, I will be buying in, because I believe a stock that is trading at a 5th of what it was last year at the beginning of the credit crisis, has some serious potential.




In work related news, I will be applying for librarian positions at Simon Frasier University in the coming week. Wish me luck!