TICKER: RDN

What a way to cap off only my second week of trading... a $900 day. In fact, I think everyone in the GOTS chat room profited nicely on RDN... thanks to an alias named "ligther".

If you've read my previous posts on RDN, you'll know I've jumped in and out of this stock several times over the past week. What's important for me, at this stage of my career, is how I played this stock. I know I jumped in and out too many times, but I cut my losses, where necessary, and I took healthy profits when I sold (relative to my experience trading and my account size). My strategy (to not be greedy) and PATIENCE.

I first bought 500 shares @ $2.97; RDN quickly dropped and I sold for a loss. I kept my eye on it and noticed it was going up again... so I re-entered buying 500 shares @ $2.85; I sold those 500 shares @ $3.20 for a 10% net profit. I kept it on my watch-list and it continued to go up. This being the third time playing this stock, I went for it... I bought 1,000 shares @ $3.52... shortly thereafter I bought another 1,000 shares @ $3.63, so I'm holding 2,000 shares with an average price of $3.58...

There were a couple drops, one scary one... it made me feel sick and I almost sold... glad I didn't! Instead I PATIENTLY waited until Friday to sell. Rumor around the camp fire was that RDN was supposed to go to $5.00 by Friday... guess what, it did! HA!

From everything I've read, nothing ever does what it's "supposed" to do... (hell this applies to life in general) but I got a taste of what "supposed to" is like... and let me tell you it was far better than a peppercorn crusted NY striploin with roasted garlic mashed potatoes seasonal vegetables a side of Alaskan King Crab legs, and an '02 Hewitt Vineyard Rutherford Cabernet Sauvignon to wash it down!

In summary, I sold 2,000 shares on Friday for a nice 11.45% net profit! I saw it kept going up and I re-entered AGAIN! I bought another 1,000 shares @ $4.00 and made another 5.75% net profit!

Lesson #6, re-read rule #1 HERE... and re-read this post HERE. The next RDN I get to play, I'll hold my position, as I realize that I spent a lot on commissions... but at this stage I was paying for my sanity.

After all is said and done... my total gross profit from RDN was $1,182.79. My account is now up 27% in two weeks... and my year end goal, which is to double my account size, is looking very good.

And "lighter", not sure if you read my blog, but for this trade, I owe you a big thank you! So, THANK YOU!