Trading Strategy / Photon Close
How do you play this gyrating market!? Yesterday, I executed several small trades on Apple (Ticker: AAPL), Goldman Sachs (Ticker: GS), Financial Spiders (Ticker: XLF), Invitrogen (Ticker: IVGN) and the Nasdaq 100 (Ticker: QQQQ). I closed out all those trades yesterday and today with some small profits.
The good news is that Photon Dynamics (Ticker: PHTN) issued a press release this afternoon stating that the Committee on Foreign Investments in the US (CFIUS) has approved the merger with Orbotech (Ticker: ORBK). The deal is expected to close on Thursday, October 2nd. Orbotech will pay Photon Dynamics $15.60 in cash. My gain from this arb play will be ~ 14.30%.
Now with most of my arb plays winding down, it’s time to regroup and evaluate a new trading strategy in this type of volatile market. I’m going to revert back to the good old CANSLIM strategy developed by William O'Neil.
posted by Money Turtle @ 3:38 PM
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1 Comments:
The importance of a sound strategy and strong risk management can not be emphasized more. Forex traders utilize numerous techniques and strategies to identify the best entry and stop points, and the best timing for buying and selling traded currencies. Thank you for sharing this guide. List of Prop Trading Firms in USA
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