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Thursday, January 20, 2011

Actual Challenge Project Purchase: General Mills (GIS)

(Please note there are two blog entries today)

Well, the wife and I are in Tequisquiapan, Mexico at the moment. And as I mentioned on the last "A.C.C." podcast, I do not want to be involved in any trades while I am on vacation. But I have kept my eye on the markets, and I've been noticing that General Mills (GIS) has been channeling beautifully.

General Mills - One Hour Chart
Up to Yesterday

And then I woke up this morning at 8:20 am Queretaro time (9:20 am est), jumped on the bedroom computer to find that General Mills (GIS) was moving to break out of that channel.

And again, as I mentioned in the "A.C.C." podcast on Tuesday, I've been having my eye on this stock for the dividend investing 'sister' account for the Challenge Project.

So I went ahead and bought, for that said account, General Mills (GIS) with the break out of that channel this morning at $36.34. There was a bit of a gap up in the price, but with the next dividend, that will be somewhat negated. In addition, with the price history of that channel (thus I feel this is a breakout scenario, rather than a 'fade') ... I went ahead and used all of the cash reserved for a new purchase to buy this General Mills (GIS) position.

I'm going to get back now to my vacation with my wife, and my coffee ...

The view outside of my window to
the mountains of Queretaro ...

(Don't forget the second journal entry today, ... "Market Geeks Care" ... that is somewhat a continuation on yesterdays journal entry ... )

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Note: The above statements should not be construed as an investment or trading recommendation. Airelon's Investing and Trading Journal is a blog that allows subscribers to look 'over my shoulder' as it were, for my own personal specific trading and investing ideas and thoughts for the next week. But they are only thoughts as of the moment of publication, and are subject to change.. Any trades or investments that I discuss within this blog are simply my own thoughts regarding my own investing and trading outlook. Remember that entering any market is an individual decision. There is no guarantee that I will enter, or have entered any of the trading or investing ideas that I discuss in this blog; as larger accounts may require a different strategy as the ones presented here. This blog simply contains my trading and investing thoughts for the next week. I, the author do not grant this work for wide distribution beyond any single individual subscriber as this publication is protected by U.S. And International Copyright laws. All rights reserved. No license is granted to the user except for the user's personal use. No part of this publication or its contents may be copied, downloaded, stored in a retrieval system, further transmitted or otherwise reproduced, stored, disseminated, transferred, or used, in any form or by any means except as permitted under the original subscription agreement or with prior written permission. I personally only enter any market after watching and reading the tape and I trade using money management principles. The losses in trading can be very real, and depending on the investment vehicle and market, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 14 years of experience in trading and investing in these markets. Airelon's Challenge Chronicles are demo accounts,with all of the inherent problems therein, which are used within this blog in an attempt to track the results of my own thought processes., and is run as a model. Traders who should make their own decisions based off their own research, due diligence, and tolerance for risk. Any pictures used within this blog are believed to be public domain. Any charts that displayed using the ThinkorSwim platform, or any other charting software are believed to be public domain. Any other pictures were obtained through Wikipedia's public domain policy. As a reminder, any trades discussed for "Airelon's Challenge Chronicles" would only be 'day trades' according to the parameters discussed for Airelon's Challenge Chronicles, at this stage of the game in order to escape the risk of over-leveraged gap opens in the commodity futures markets. As a 'trading sister' would have grown to the $30,000 level, I would have graduated the account into 'swing trading'. In addition, it is understood that readers have read my YouTube methodology series. It is also understood that the writer of this blog has repeatedly warned against the dangers of shadowing any other traders thoughts. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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