Friday, June 5, 2009

WMT up early on good news

Wal-mart is getting a nice boost today with the announcement of a $15 billion share repurchase program.

This is the the move that can potentially take me to my 30% ROI by next week. Patience will be my move for now.

Setting a limit order to exit the trade would be a good option for today if I was going to be out, away from my computer.

I rounded up to a total credit of 1.85 per share this would be a 32% return on my original debit of 1.40 per share. This will cover my commissions. Notice this is just a day order. Will want to read any news over the weekend if the order doesn't get filled.

This will also set up the potential to make this trade a very profitable situation that can be played out for the next couple of months.

Best in Trading, Coach Nuge
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