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80 Less commissions and taxes...................... .$ 250.00 Net...................$ 1,000.00 Added to capital......$39,520.00 With 1000 bought at 80 1/4, stop at 79 1/4. March 17th, high 87 1/4, March 22nd, low 84. We raise stop to 83. April 4th, high 86. April 8th and March 22nd, low 83 3/4. April 10th, high 85 1/4. Decline follows. Stop is caught at 83 and we go short 1000. Account now stands: Bought 1000: at 80 1/4- sold at 83- profit.......$ 2,750.00 Less commissions and taxes........................$ 250.00 Net profit.............$ 2,500.00 Added to capital.......$42,020.00 1000 short at 83 April 22nd declines to 80 and we cover at 80 1/4 and buy 1000 because this is same bottom as January 31st and March 1st. We protect with stop 79 1/4, this being a triple bottom. April 25th, high 84, April 26th, low 80 3/8, a higher bottom. May 1st, high 84 1/4, May 5th, low 801/2, a slightly higher bottom. From high of 89 1/2 on December 31, 1915 to low of 79 3/4, March 1st. 1916, makes 1/2 point 84 5/8, and making 85 5/8 would indicate higher. May 25th, high 86 5/8 and last low on the 17th waa 84. Therefore, we raise stop to 83. The stock declines to 83 6/8 on June 2nd. June 12th, advances to 87 1/4. June 12th, low 86. June 14th, high 87. We raiae stop to 85, which is caught, and we go short 1000 at 85. Account stands: Bought 1000: at 80 1/4- sold at 85- profit.......$ 4,750.00 Less commissions and taxes........................$ 250.00 Net....................$ 4,500.00 Added to capital.......$46,520.00 1000 short- at 85- stop at 88 June 27th declines to 82 3/4 and as top on June 26th wes 84 1/4 we reduce stop to 85 1/4, which is caught, as we buy 1000 at 85 1/4. The account now stande: Sold 1000: at 85- closed 85 1/4- loss(w/ comm)...$ 500.00 Added to capital.......$46,020.00 Bought 1000: at 85 1/4- stop at 81 3/4 July 6th, high 87 1/4, July 14th, low 83 1/4, we raise the stop to 82 1/4. June 24th, high 87 1/4, July 25th, low 85 1/4,
we raise stop to 82 1/4. July 27th, August 2ncl and 5th, makes low 85 3/4 and 86, and we raiee stop to 84 3/4. A big advanoe follows and at 90 1/2 we buy 300 more because the stock has gone one point into new high after holding for nine months between 89 1/2 and 79 3/4. August 17th, high 92 5/8, August 18th, low 91. We raiae stop on all trades to 90 and at 94 buy 300 more. Auguat 23rd, high 99 1/2, the highest in ifs history. August 24th, low 96 3/4. We raise stop to 95 3/4. August 25th, high 99 1/4. August 28th, low 95 3/4. Catches stop and we go short 1000 at 95 3/4. Account stands: Bought 1000: at 85 1/4- sold at 95 3/4- profit...$10,500.00 Bought 300: at 90 1/2- sold at 95 3/4- profit...$ 1,575.00 Bought 300: at 94 - sold at 95 3/4- profit...$ 625.00 Less commissions and taxes........................$ 400.00 Net profit.............$12,200.00 Capital................$46,030.00 New balance............$58,220.00 1000 shares: short at 95 3/4 We can now increase trading unit to 1200 shares. August 30th, low 95 1/4. The high on the 29th was 97, so we make stop to 97. August 31st stop is caught and we buy 1200 at 97. Account now stands: Sold 1000: at 95 3/4- closed at 97- loss.........$ 1,500.00 New balance............$56,720.00 1200 bought: at 97 August 31st advancea to 99 3/8 for the third time and cant go through 100, so we sell out at 99 and go short 1200 at 99. Account now stands: Bought 1200: at 97 -sold at 99- net profit......$ 2,100.00 New balance of capital..$58,820.00 1200 short: at 99 September 1st declines to 95, getting only 1/4 under low of August 30th. We reduce stop to 99, which is caught, but we wait to buy stock until stock can make new high and go through 100- a very important resistanca level. Account stands: Sold 1200: at 99- closed at 98- profit..........$ 900.00 New operating capital...$59,720.00
The advance continues, and at 100 1/2 we buy 1200 with stop 97 1/2 and at 105 1/2 we buy 600 more, and at 110 1/2, 600 more. The lows on September 19th and 20th were 107, so we raised stop to 106 on all trades. At 115 1/2 we buy 300 more. September 25th, high 120, a Resistance Level, September 26th, low 113 3/4. We raise stop on all trades to 112 3/4. September 29th, high 120 1/2. September 30th, low 116 1/4. We raise stop to 115 1/2. October 2nd, 4th, and 5th makes tops at 118 5/8 to 118 3/4 and low on October 4th was 117, so we raise stop to 116, whioh is caught, and we go short 1200. Account now stands: Bought 1200: at 100 1/2- sold at 116- profit......$18,600.00 Bought 600: at 105 1/2- sold at 116- profit......$ 6,300.00 Bought 600: at 110 1/2- sold at 116- profit......$ 3,300.00 Bought 300: at 115 1/2- sold at 116- profit......$ 150.00 Less commissions and taxes.........................$ 675.00 Previous capital........$59,720.00 Operating capital.......$87,395.00 1200 short: at 116- with stop at 119 We can now increase trading to 1500 shares. A decline follows and we sell 600 more at 111. October 9th, low 108, October 10th, high 113. Reduce stop to 113. October 14th, low 108, same as October 9th, a double bottom. We figure from last low September 1st at 95 to high 120 1/2, September 29th, and find 1/2 point is 107 3/4, so we cover shorts at 108 1/2 and buy 1500 with stop 106 3/4. Account stands: Sold 1200: at 116- closed at 108 1/2- profit.......$ 9,000.00 Sold 600: at 111- closed at 108 1/2- profit.......$ 1,500.00 Less commissions and taxes.........................$ 950.00 Net profit..............$ 9,650.00 Previous balance........$87,395.00 Operating oapital.......$97,045.00 1500 bought: at 108 1/2 We bought 700 more at 114. October 23rd, high 121 3/4. Bought 400 more at 121 1/2, because it was a new high. October 26th, low 117 1/4. Raised stop on all trades to 116 1/4, November 2nd, high 122 1/4. November 4th, low 119 3/4. Raised stop to 118 3/4. November 9th, low 122 1/2, raised stop to 121 1/2. Stops were caught, and wa go short 1500 at 121 1/2. Account stands: Bought 1500: at 108 1/2- sold at 121 1/2- profit..$ 9,500.00 Bought 700: at 114 - sold at 121 1/2- profit..$ 5,250.00
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