Double A Penny - Step 20 - The Eagle Has Landed
I made the first trade of 2010 and it was mildly successful.
It could have been a lot better but I just could not wait and did not follow my plan to hold longer term.
I had been watching this Stock for awhile: Eagle Bulk Shipping Inc.(NasdaqGS: EGLE)
The stock has been swinging up and down and looked promising for a DTAMP trade. I had been waiting for it to drop to around $4.50 although I wasn't sure it would get down there.
On January 4th, 2010 the stock popped up a little and I decided to jump in. I got it at $5.25, which was higher than I really wanted it, but I had a feeling it was going to keep going at that point.
I was planning on holding it until it got up into the $6.50 - $6.75 range. But I just couldn't do it. I sold it off at $5.54 instead.
The next day it kept going up hitting a high of $5.89. :-(
A profit of $196.01 is not bad for DTAMP.
DTAMP Equities Plan Report:
01/07/10 - Sold - 738 shares of EGLE @ $5.54 p/s - Total $4088.52
I finally made it over the $4000.00 mark for the first time.
Step 21 is so close I can almost taste it.
Present Stake: $4088.47
Motto: It is only "one" found penny.
Slogan: As Simple As Finding A Penny.
Theme Song: Chumbawamba - Tubthumping
Regards,
Xinfinitum
This Double A Penny Blog is based upon the Doubling Method "How to Double Your Way to a £Million in 28 Steps". Using the Doubling Rule it is an attempt to "Double Your Way to a Million" by going from one penny to a million dollars, starting from nothing. At the beginning you start by finding a penny and then double a penny until reaching $1,000,000.
How to Double Your Way to a Million in 28 Steps
D.T.A.M.P. - Double To A Million Plan
Labels: Eagle Bulk Shipping, EGLE