Monday, January 5, 2009

FARO - Bought to Cover

I decided to get out of FARO while I had some sort of profit because I was only aiming to get a little bit of money between rallies (true swing trading!). I'm upset because I had earned quite a bit more this morning but it spiked and never returned to its low. Additionally, its a little "dangerous" to short an uptrending stock, so I'll take the small win on this one.

I just bought to cover FARO at $16.03 for a $0.16 gain per share and a .1% return on investment. This was a day trade.

RECAP:

FARO SS @ $16.19
FARO BC @ $16.03