September 30, 2004

Stock Update

OK, when my darling lil' equity began to pull back, I went ahead and took profits at $46.50. I opened my position at $28 several months ago, so that's $18.50/share that I made. I still like the company (it's gone back up $2 since I closed my position), so for those interested, the name is Biosite (BSTE).

I trade with Ameritrade, and a nice feature they just added is called Trade Triggers. You can set one up such that when an equity or index meets a certain criteria, you're either notified by e-mail or a trade can be executed on your behalf. So, I just had it set to sell at market when the "Last" was $46.50 to protect me from too much of a pullback. The nice thing about Trade Triggers is that it will work much the same as a stop or limit order, but since I don't care much about ten cents movement here or there, I just set a market order and pay the lower trading fee.

Of course, now I'll sit back and frown as the stock rockets to $72 by lunchtime.