Canal

Our position in Citi has been trading sideways. That is both good and bad. The good news is that with the market's moves downwards, Citi is not hurt too much. It seems as though Citi has found a base at around $3.65. The bad news is that Citi has found a roof at $3.80. Our position is already positive, so this range trading is not devastating.

I originally wanted to sell our position above $4. I did sell 1/3 of our position at $3.90 when Citi began to fall. I will look at the prices of Citi come Monday and may sell another 1/3 of our position. This will leave us with roughly $400 to trade with. I may open one or two positions looking for some small $50 gains.

I have been monitoring other stocks and by waiting, I believe we are not utilizing our potential to its best extent. I will leave the final 1/3 of our position until it gets closer to $4. I will continually trade the the rest of our account and plan on making some decent gains. We are over halfway to $1,000. The thousand dollar mark is the first major hurdle, but not the last. This summer I hope to make some major progress on our stock market account.

WIWS