SSO - Open Position

Written on January 15, 2009 – 9:31 am | by admin

Into this market downturn, I am looking to build a 100 share position in my Zecco account.  I chose this because I can buy in small increments and not get hit with commissions.  I have in place a bunch of orders to try and accumulate shares should the market start to free fall.  I bought my first 6 shares today at $21.99.  I have orders that increase in the number of shares as the price falls.  Once I feel comfortable holding the shares, I will purchase the remaining shares to get me to 100 and then start the covered call process.  I feel that averaging down like this is best especially in this kind of market.  If the market bounces and this is it, I have some bought really low and if it falls, I don’t have as much at risk.

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