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.
