Tuesday, July 10, 2007

Just my Luck

Boy oh boy... am I disappointed... a bunch of the stocks on my watch list are heading significantly higher and higher everyday for the past week or so and each day, I set prices to buy in at but they never get filled. A few others confirmed patterns that would signal a buy in my books but once again, I'm a bit too late :( They're at a price point now where the risk/reward ratio makes we a bit uncomfortable.

If only I had access to a trading system that would allow be to 'buy Stock X if it goes above $Y'?
If anyone is aware of a Canadian discount broker offering such a service, please let me know.

So now I'm in a bit of a pickle, do I continue to watch these stocks amass higher valuations and wait until they come back down (if ever); bite the bullet and purchase them at the market price at the opening (something I've told myself I would never do after getting badly burned several years ago); or set a limit price right around today's closing price and hope for the best once again?

When I've chased stocks in the past in similar situations and surely enough, I would finally get it. Just my luck though, it would be a major top and I'd then wait weeks, if not months, to break even.

Before I make my decision, I think I'll have to sleep on it tonight....

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