Oh so close. On Friday, XRTX was very close to hitting my sell trigger, so I put a Limit Sell order, and sure enough, today it goes down, down down.

Rather than obsess about it and keep updating the price. Here are some online resources I keep an eye on.

Blogs:
Random Roger's Big Picture, Money Monster, Fund Alarm ... I just started checking these out recently, so I don't have an opinion yet.

E-newsletters:
John Maudlin - very heavy going. Don't understand everything. Big issues, macro kind of guy. I try to skim through it.

Gary North - conservative, Christian, some might say a crank or very crothety. I think alot of his readers are the kind that live in West Virginia, with lots of guns and gold hidden in their mountain bunker. You know, the kind that the ATF are very, very afraid to approach or arrest.
I like to get a different point of view. Plus, he seems to know how to make money, and cuts through a lot of the BS.

Daily Wealth. A wealth of ideas, delivered to my InBox daily, one at a time and it's FREE. As all three are.

Trade #1 - MIND.

That's the company stock symbol. What is it? What does it do? Who knows and who cares.

1.06.06 Bought 50 shares @ 20.34.
1.30.06 Sold 50 @ 25.16
Gain (Loss) minus commissions: +227

IRS, are you watching? +227 (+22.3%), holding time: 24 days.

Account Value: 1727.

Trade # 2 - XRTX

1.31.06 Bought 65 @ 22.38, total 1454.7

Today's closing price: 25.49 (+13.89%)

Market Value: 1656
Cash: 106

... into $1762.

Welcome to my blog. Here is my big adventure into, well, not quite day trading, but more like bi-monthly trading. For those who want to play along, these are not recommendations or advice, and as you should all know, prices of stocks can go up as well as down. I am an amateur, a semi-lucky one, so far.

Background: I started a Scottrade account in January, 2006, with $1000, bought a stock, then added $500 to my account. More details to follow. The method to the madness is inspried by equal parts CANSLIM, and parts voodoo thing called Reverse Scale? with healthy dash of Momentum style investing (speaking of which, my Marketocracy Fund virtual fund is up about $110k from its inception date of July 2005. It's a small cap, highly speculative fund.

Guidelines for myself on this adventure: 1. No Options (too chicken).
2. No short-selling (see No. 1).
3. Start with Momentum stocks from IBD.
4. Float less than 25m (supply and demand, my friend)
5. Not much Institutions in on it (see no. 4) and not too much Insiders.
6. Above 50 day MDA.
7. Good chart.
8. Small cap (less than 150m).
9. Volume double the average.

Sell points.
1. 20% Gain
2. 6-8% Loss.

Coming soon. Details on how I'm doing so far. Which will be interesting, at least to the IRS.