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mpc220 > Trade Notes

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mpc220: Trade Notes

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Bought 100 shares of SRS at 93.64

mpc220 posted on 03/25/08 at 03:53 AM (Note posted about 9 hours after the trade)
Trades | Notes | Blogs
Users Bought (30 Days) 5 (100%)
Users Sold (30 Days) 0 (0%)
Market Cap 900.13M
52-Week High 295.72
52-Week Low 8.36
10 Day Volume 32.89M
P/E 0.00
EPS (Trailing 12 Mos.) 0.0
1Day 5Day 1Mo 3Mo 6Mo 1Yr

Transaction: Bought
Symbol: SRS
Quantity: 100 shares
Price: $93.64
Value: $9,364.00
Stop Order: Yes @ $88.10
Target Price: $100.00

Simple play: house pricing data is horrible, and we have LEN and KBH earnings coming up later this week.  I don't expect them to be good.

I also have a feeling (though nothing more than a gut feeling) that this rally is going to take a breather.  If so, and if SRS moves my way early, I might take profits quickly.  I'll probably put in a stop around five bucks below my purchase price regardless. 

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Posted by mpc220 on 03/25/08 at 03:53 AM

Tag It | 1 user tagged it: SRS, stock, buy

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lumburg

Member since: Jan 08
5 Day 2.45%
15 Day -0.07%
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Facilities and Production Manager at a Microbrewery
Age: 30's
Blanco, Texas
lumburg
Posted March 26, 2008 (07:41AM)

Speaking from experience with the UltraShorts™, I'd give myself more than 5% down for a stop order--it has double the volitility of this highly volitile market.  I do think you got in at a good price point--I'd put a sell order in at $120 and sit back and wait.  Maybe sell half at $110 if you want to play it a little safer.

As for your comment about housing--I'm not sure SRS is really directly related to housing per se.  It really tracks the Dow Jones Real Estate Index, which "includes companies in the following sub-sectors: real estate holding and development and real estate investment trusts."  I think its a great investment though because commercial real estate and REITs have not taken the hit that residential housing has, and they will.

Lower that stop order, and hold out for more than $100. 

Dow Jones US Real Estate Index components (Excel File):  http://www.djindexes.com/mdsidx/index.cfm?event=components&symbol=DJUSRE

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mpc220

Member since: Dec 07
5 Day 0.00%
15 Day 0.00%
1 Month 0.00%
3 Month 0.00%
6 Month 0.00%
1 Year 203.45%
As of: 11/20/09
How is this calculated?
Trades 234
Trade Notes 42
Blog Posts 6
mpc220
Posted March 27, 2008 (09:46AM)

Thanks for the advice.  What you say makes a lot of sense; I'll change the stop.

Thanks again. 

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