Status of the most recent "Dow Gambit" Since I have a sell signal here it made sense to take off the table at least some of the Dow gambit. During the day (#msg-552268) the gambit sold MMM at $128.75 and MSFT at $52.30. The gambit was initiated on 9/23 (#msg-508921) and the following summarizes the positions:
IBM in at $61.08, stopped at $60 loss of 1.8%. Reentered (6% more shares) at $56.5 on 10/4/02. S.L. $53.5. This one got closed 10/8 (#msg-545240) at $73.95 a gain of 27%. EK in at $26.80 and also closed on 10/18 at $32.25 for $20%. MMM at $116 (SL $108.25 raise to 119.88), sell at $138 or higher. Because of the failure to take ut the high of $130.60, it was sold today at $128.75 for just 11%. XOM at $32.50 (SL $29.90 raise to $34.44), sell above $40. This one was stopped earlier in the week at $34.44 for just 6% gain. MSFT at $44.75 (SL $41.20 raised to $50.88), sell above $51. This one was sold today at $52.30 due to the sell signal, for 17% gain.
These five have yielded on the average 16.2%. Not as good as the Dow gambit from 7/23 to 8/22 (the avergae gain then was 25%).
Left are:
AA at $19.35 (SL $17.55 raise to $19.75), sell above $25. Current price: $22.69 (max $23.90), and the recent addition, JNJ (#msg-550801) bought at $57.50 with a S.L of $53.5.
I had earlier suggested possible reentries for IBM ($69) and EK ($29.50), but I am now taking these off the table and waiting to see a better entries in these and possibly a completely new Dow gambit.
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