Wednesday, June 24, 2009

Librarian: Found Work

At least temporarly, I am now employed:

Someone has been following my Stocktweets through Stocktwits and has offered me employment in the form of commission based portfolio management.

I am given a lump some of money to take care of for the contractual length of six months - starting July 1st and ending December 31st. I keep a percentage of the profits earned, and if the returns are better than 20%, I will be extended beyond that point.

I look forward to the challenge, and hope that I become a better trader because of it.



On the Day Trading front, I have been doing pretty well these last three days after taking a pummeling last week - and I think it's safe to say that I have managed this retracement well (knowing it would come, just not so furiouisly), and believe that I am well equipped to take advantage of this reconcilliation period.

I played Las Vegas Sands LVS and Patriot Coal PCX today, as well as added to my Discovery Labs DSCO position. The market started strong today, but gains were pared after the fed announced the interest rate hold. However, despite the day ending basically even, I made a killing - and my long term position in Patriot looks strong as it looks like it is gathering some steam and the technicals show it is extremely oversold relative to how overbought it was in the beginning of May.

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