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79 October October October October October October 1st 8th 19th 20th 21st 26th high 81 3/4 low 76 3/4 advanced resumed high 87 1/4 low 85 1/2 high 87 5/8- stop 84 1/2 low 85 1/4- high 87 1/4 (the third top around same level) We could have sold out but we assume stop was caught at 84 1/2, and we went short 700 at 84 1/2. Our account now reads as follows: Bought 700: at 68 1/2- sold at 84 1/2- profit....$11,200.00 Bought 300: at 72 - sold at 84 1/2- profit $ 3,750.00 Bought 300: at 78 1/2- sold at 84 1/2- profit $ 1,800.00 Total profit...........$16,750.00 Less commissions and taxes........................$ 325.00 $16,425.00 Previous capital.......$23,698.00 Operating capital......$40,123.00 We can now raise trading unit to 1000 shares. We are short 700 at 84 1/2. The last low, October 6th, was 76 3/4, high October 21st, 87 5/8. It makes 1/2 point, 82 1/8. October 29th, the stock declines to 82 1/4. Note October 16th low of 82 1/4, Here we could cover shorts and buy with a stop at 81 1/4. Our account now stands at; Sold 700: at 84 1/2- closed at 82 1/2- profit $ 1,400.00 Less commissions and taxes........................$ 175.00 $ 1,225.00 Previous capital.......$40,123.00 Operating capital......$41,348.00 We now have 1000 shares bought at 82 1/2. November 1st: advanced to 883/8 November 3rd: low 86 November 4th: high 88 Raise stop to 85, one point under November 3rd low. The stop was caught, and we sold short 1000 at 85. Our account now stands: This makes five bottoms around 74 1/4 to 73 3/4, a sure indication that stop should be at 72 3/4. September 27th, advanced to 70 3/4, getting above all tops since August 17th. We bought 300 at 78 1/2, stop 75 1/2.
Bought 1000: at 82 1/2- sold at 85- profit..----$ 2,500.00 Less commissions and taxes.......................$ 250.00 $ 2,250.00 Previous capital......$41,348.00 Operating capital.....$43,558.00 Short 1000 at 85, stop at 88 3/8. The stock declines to 83 5/8 on November 9th; then rallies on November 12th to 88 3/8; declines on November 16th and 20th to 86 1/4; November 26th high 88 1/4, December 2nd, low 84 1/2. December 7th high 88 1/4, making the same level five times. Our stop should be 89 1/4. December 13,17 and 21 made lows of 85 1/4 to 84 7/8, higher than previous bottoms, and our stop should have been reduced to 87 1/4, one point above December 20th high. This stop was caught, and we would reverse position and buy 1000 at 87 1/4. Account now stands: Sold 1000: at 85- closed at 87 1/4- loss........$ 2,250.00 Less commissions and taxes.......................$ 250.00 Net loss..............$ 2,500.00 Capital...............$43,558. 00 Net operating capital.$41,058.00 We have 1000 bought at 87 1/4. December 27th, advanced to 89 1/2; December 29th, low 86 3/4; December 31st high 89 1/2, a double top- raise stop to 85 3/4. This double top near 90, a strong resistant level, would be the place to sell out and go short, but we stay to see if overnight trend turns down. Stop is caught at 85 3/4, and we sell 1000 short at 85 3/4. Aocount now stands as follows: Bought 1000: at 87 1/4- closed at 85 3/4-loss...$ 1,500.00 Less commissions and taxes.......................$ 250.00 Total.................$ 1,750.00 Subtracting $1750.00 from $41,058.00 leaves a balance of $39,308.00 and 1000 short at 85 3/4. 1916 January 24th, declined to 82 1/4, same low as October 16th and 29th, 1915. We cover shorts at 82 1/2 and buy 1000 at 82 1/2. Account now stands: Sold 1000: at 85 3/4- closed at 82 1/2- profit..$ 3,250.00 Less commissions and taxes.......................$ 250.00 $ 3,000.00 Capital...............$39,308.00
Operating balance.....$42,308.00 Bought 1000: at 82 1/2- stop 81 1/2 January 26th: high 86 January 27th: low 82 3/4 January 28th: high 84 1/4 Raise stop to 81 3/4, one point under January 27th low. This stop was caught and we go short 1000 at 81 3/4. Account now stands: Bought 1000: at 81 1/2- sold at 81 3/4- even $......... Capital...............$42,308.00 Short IQOO: at 81 3/4- stop at 85 1/4 January 31st: low 79 7/8 February 4th: high 84 3/4 February 5th: low 82 1/4 February 10th: high 85 5/8 The stop caught and we buy 1000 at 85 5/8. The account now stands at; Sold 1000: at 81 3/4- closed at 85 5/8- loss $ 3,787.50 Operating balance.....$42,308.00 New balance...........$38,520.50 Bought 1000: at 85 5/8- stop 81 1/4 February 17th and 24th, made lows at 82 1/2 and 82 3/8. We raised stop to 81 1/2. Stop caught and we go short 1000 at 81 1/2. Account stands: Bought 1000: at 85 5/8- sold at 81 1/2- low.....$ 4,125.00 Less commissions and taxes.......................$ 250.00 Operating balance.....$38,520.00 New balance...........$34,145,00 1000 short: at 81 1/2 March 1st declines to 79 3/4, same low as January 31st. We cover shorts and buy 1000 at 80 1/4. Account now stands: Sold 1000: at 81 1/2- closed 80 1/4- profit.....$ 1,250.00
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