I took some profits on Quality Systems (QSII) last week but rather than correcting, stocks now just sit...rest... and then breakout on top of old breakouts. This is what is happening in QSII today.
I sold in the $65.50s hoping to buy back in the $62s (which at the time was where the 20 day moving average was)... I missed my repurchase by about 30 cents as the stock fell to $63. It happens.... but my error for not moving my limit purchase order up to the 20 day moving average a few days after I entered it, because this is exactly where the stock fell to.
With a breakout over the obvious resistance of $66, I am adding back a 1.25% exposure today in the $67.60s. As long as $66 holds, this reasoning for this addition should hold.
[Mar 18, 2010: Restarting Quality Systems]
Long Quality Systems in fund; no personal position
x
Friday, April 23, 2010
Bookkeeping: Adding Back to Quality Systems (QSII) on a New Breakout
Posted by
Mark
at
3:41 PM
Bookkeeping: Adding Back to Quality Systems (QSII) on a New Breakout
2010-04-23T15:41:00-04:00
Mark
Quality Systems|
| Edit This Post |
Create A New Post
Labels: Quality Systems
Bookkeeping: Adding Back to Quality Systems (QSII) on a New Breakout
2010-04-23T15:41:00-04:00
Mark
Quality Systems|
Subscribe
Archives By Date
Best Of FMMF
- Blogroll
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows