I admit, though the Pupule portfolio is purely for paper trading, study and entertainment, I was rash to jump into four stocks without pyramiding in as I'd written before.
Here's what I did last week when those four stocks gave us some interesting entry points.
Weighted scale of $10,000 per stock
PTR • in $181.72 (55 shares) • 12/24/07
GS • in $214.32 (47 shares) • 12/24/07
CEO • in $167.22 (60 shares) • 12/24/07
LFC • in $80.70 (124 shares) • 12/24/07
Today, three of the four are down from these listed entry points (down a combined 3.4%), but long term, I would be satisfied. Today also provided two great entry points for China Mobile (trading below 50-day SMA) and eBay (trading below 50-, 100- and 200-day SMA), the latter of which is certainly for a near-term trade only. (eBay has too many security and credibility issues regarding ripoff sellers for me to consider it long term.)
CHL • in at $84.65 (12 shares) • 1/2/08
EBAY • in at $32.49 (30 shares) • 1/2/08
These buy points in GS and EBAY represent the first step in pyramiding, a 10% piece of the eventual position for each. Tomorrow, possibly, the next step of 20%.
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