Coward

Today's the last trading day for the year 2010, and I have been looking at PCOR and MER prior to the open.  I regret not looking at PCOR during its early rise since it is not only being sold on the news, but it has solid fundamentals too.

Right now, I am narrowing down my stock options to those who had higher Q3 gains compared that of last year's end.  PCOR's Q3 EPS is currently at 0.57 versus last year's 0.45.  However, at today's prices, its PER is now at 32x relative to current earnings.  Looking at the charts, uptrend may still continue but momentum has weakened.  RSI also shows the stock being traded at the overbought region. This is one of the reasons I have hesitated on buying at the open, despite its rise of around +1.1 (6%).

Personal Recommendation: Buy the dips.

 

As for MER, I have missed yesterday's price action and I've realized I still should have bought at the close.   MER gained a huge green crossing over its upper Bollinger band.  On cases like these, further uptrend is due.  Today, the stock reached a high of 230 which is around 4.5% gain.

The above 2 stocks featured had the same characteristic today.  They started up early.  I'm still not used to trading at the open, for fears that this may just be knee jerk reactions of the market.  PCOR slip may be forgiven, but with MER, I really should have stuck to my trading principles.

Still for MER, Buy the dips.

So I guess I should start pointing out my trading problems so far:
1.) Stop-loss (7-8%?)
2.) Trading at the open (what should be my policy here?)
...

New Year's Trading Resolution for 2011:  No Fear!