Trades for 11/10/09

Made 3 new trades today, all in stocks I've been in before.
HURC @ $15.30
ARAY @ $5.66
IRE @ $11.75

I view IRE as a speculative play.  They are a troubled Irish bank that was down as much as 10%.  I'm looking for a bit of a bounce here and will tighten stops as it moves up.

HURC and ARAY are both companies that we punished in the last downturn.  Both currently stand at a point with no debt.  Should the turn around be real, I think these could move up.

All positions were initiated with a 10% trailing stop to protect downside and lock in upside, should it occur.  I may look at tightening the stops should we see some quick gains.

This brings me to my current mindset with IRA accounts.  In my mind I think the market has rallied too much and is actually set up for a correct.  I've thought this since July and have lost ground to the market by having some position on the short side of the market or by simply being in cash.  My current philosophy is trade around this uncertainly, by making trades protected by stops to limit the downside.

Disclosure - links go to MarketWatch my current employer.