[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

MGM Grand 20000801



PureBytes Links

Trading Reference Links

Warning do not take my advice on anything without thinking clearly about
what you are doing and also YOU ARE REQUIRED TO TAKE COMPLETE RESPONSIBILITY
FOR YOUR OWN ACTIONS.

With that said here what I am doing:

I placed an GTC limit  on MGG (MGM Grand) of buy 13 @ 36 3/4 today

IBD Ratings are 92 87 AAB,
 new ceo less than 2yrs
,  Company is repurchasing Stock
, B sponsorship (20.6 % of stock held by mutuals)
Industry group is 15 out of 197 this week (Leisure-Gaming)
Big Easy date stamp is  Tue Aug 01 12:35:26 2000


My trading plan is as follows
I am Dedicating $995 (40% of my account)
When my order is filled I will place a stop Loss of Sell 13 @ 34 1/8

As trade develops I will enter again with
	  Buy 6 @ 37 5/8 when filled I will
		Change Stop loss to Sell 19 @ 34 1/8

As trade continues to develop I will enter again with
	Buy 6 @ 39 1/2 when filled I will
		Change Stop Loss to Sell 25 @ 34 1/8

This will give me an avg entry price of 25 @ 37 5/8

A potential loss of 3 1/2 or ~9.25% if I am Stopped Out


As trade continues I will Place Break even stop at the avg price of entry
see above
	Cancel Stop Loss and replace with
		Sell 25 @ 37 1/8

As trade continues I will exit Based on time at the 50% of Stop Loss to
Highest High
	 I will do this after 8 weeks has passed to give trade time to develop

As trade continues I will Exit 20% of my position at 20% appreciation in
price
	Sell 5 @ 43 15/16 for $219.75

As trade continues I will Exit 30% of original position at %100 appreciation
in price
	Sell 8 @ 73 1/4 for $ 586.00 for a grand total of $970.28
		I will have my original investment back
			and still own 12 shares of MGG
				At no cost to me

As trade continues I will Exit 20% of Remaining  position at 2 times the
previous 20 % appreciation price
	Sell 3 @ 87 7/8 for $ 263.62 for a grand total of $1233.90
		I will have my original investment back
			and still own 9 shares of MGG


As trade continues I will Exit 30% of remaining position at 2 times the
previous 100 % appreciation price
	Sell 3 @ 146 1/2 for $ 439.50 for a grand total of $1673.40
		I will have my original investment back
			and still own 6 shares of MGG

By preplanning my trade I will manage my emotional trade killers

Thank you your help

Lonnie Lepp
is Proud to be a Trader George since 5Jul2000

PS If you do not want to receive these messages from me please email
tllepp@xxxxxx and tell me to stop sending them to you.