Quick QID Trade Update, 0% Risk
Posted by Blain Reinkensmeyer
June 2, 2008 at 4:41 pm
For those who took up my offer to buy some QID last Friday, you are now in a fantastic position. QID was up over 2% today, and you now can to take your 2% risk trade and turn it into a 0% risk trade.
Raise your stop losses from $36.75 to $37.55, and keep your target price still at $40 - $41.
Also my buy order on EXM was hit today at $52.10 which is a play on dry bulk commodities shipping. Remember DryShips? Looks like this trend may be back in favor after finding key support. More on that though later.
Subscribe via email:
I was debating whether to buy more EXM at 50 today, but never pulled the trigger. =( EXM seems to have much more support than DRYS so I am glad I own that. But it seems that DRYS will benefit much more from the recent increase in shipping rates than EXM since they are more affected by the spot rate, whereas EXM has a mixture of long and short term contracts for their ships.
EXM @ $50 would have been a solid pick up, I got knocked out of my position today but still think these shippers are going to just take off. GNK had a rough day today so I guess with some more price consolidation this group will eventually be ready to roll.
Oh, and congratulations on your recent achievements. Hope you include your readers on your futures gains as well =D
[...] unless you sucked it up you are bleeding right now. I was one them but thanks for smart management QID was sold for a split. Now I am vested back in the shipping [...]