Thursday, September 24, 2009

Margin Update

Well, things on the margin front are looking very positive lately. My 90 shares of Hospira (HSP) are now worth about $4,000, with the debit balance at about $4,500. When I went into this, I was not planning on purchasing 100 shares FMBI on credit, but I did, and that added about $1,000 to the debit balance. Which is why HSP now has to pull more weight.

Luckily, it appears to be in a cooperative mood.

If it advances another $5-6 a share, I'll place a sell-stop slightly below the then-current market price. That means if the stock sits still or rises, I hold. But, if it drops, I fold.

Wish me luck. And, if I ever take another margin loan, somebody please shoot me.

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