NMX (NYMEX Holdings Inc)
NMX is another name in the financial exchange area that has been white hot. It came public at a price of $59 but has yet to actually trade below $100. Its first day it eclipsed $150 but has pulled back and consolidated its gains.
I got involved when it first pulled back and then began making what I assumed would be a sustained run. The name has fizzled out a bit and is close to stopping me out but I am hopeful it will find support above its previous low. I am confident that it will have a sustained run and offer a great opportunity. The key is timing the buy right so you don't get shaken out during a normal correction. I expect this name to be on my watch / trade list for some time.
Jan 8, 2007
Well today the market was relatively healthy but NMX pushed a bit further down to stop me out at a 10% loss. I still like the fundamentals but "discipline trumps conviction" and so I have to turn this one out for now. If it can regain its footing and offer a low risk spot to get back involved, i will reconsider. But for now I will find better opportunities.
1 comment:
Zack! Great to see you have a blog. And thanks for stopping by mine. Don't know how you found me, but glad to get back in touch with you.
A blog is actually a great way to add value and expertise to what you are already doing. I love it.
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