Weekly Recap

A very quick recap of the weekly activity.

I purchased a new position on Tuesday, HF at $11.60, a tad higher than I wanted but I got busy at work and failed to change my limit order...it doesn't really matter in the long run though as it was my initial entry price anyway. I'll probably move the stop up to $11.25 from $11.15.

I moved my stop on BVF to $12.10 last night.

I looked at the chart for LNR and decided to leave it alone. It's at 17% if it gets stopped out so I feel it's a good spot for a gain and it allows enough room for the price to flucuate while it decides where it is going.

This is a far cry from having to decide and manage 6 or 7 trade entries in one day, jiggling with the stop settings, and all the rest that goes along with higher volume trading.

I like it.

On the weekend I will select 10 more stocks to add to my potential list and chart maybe 5 of the existing potentials that look like they might be ripe for trading in the next week or two. I have three active, 12 iminent, 23 charted potentials, about 30 uncharted potentials and about 200 that fall within my general criteria.

A side comment. What other small enterprise can one start with $5K, no appreciable overhead, no staff, no inventory, no franchise fees, no business permits, very little risk and an almost guaranteed customer base? Oh, next year when the Tax Free Savings Accounts (TFSA) come out , no income taxes, no capital gains taxes.

The only downfall with the TFSA will be that I doubt they will let me use margin in the account, they don't for RRSP accounts already and these are likley to be treated similarly.

Sometime in June I will be transferring a larger sum to work with but I will be keeping this startup running separately as the other will be a transfer from an "advisor" managed RRSP account that has been losing money. I might have to change some of my rules for that one.

JD.