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The Blackstone Group L.P. Message Board

  • billlewisiv billlewisiv Oct 29, 2013 5:04 PM Flag

    Still a player's stock. Play to win...

    While attempting to understand psusucker's about face (he's been screaming "SELL!" for most of this year), I continue to go long BX, but play it as well. Keeping 500 shares in one account and letting it ride, while swing trading another 500 shares. At 28 and change, BX had come too far, too fast, and I sold my swing trading shares at 28 last Thursday, expecting some profit taking by players and traders. This stock is, has been, and will continue to be a trading vehicle. Sure enough, a vicious sell-off occurred for a few days. When that sell-off appeared over-done, I bought back my swing trade shares at 26.30 yesterday. Since I wasn't holding on the x-dividend day, I won't be seeing that $115 (23 cents times 500) appearing in my Scottrade account. But I netted over $800 on the swing trade. Watch this stock closely for a long'll see how it works. It's a trader's plaything. Use that knowledge for profit. And I'm glad you've seen the light, psusucker.

26.00-0.79(-2.95%)2:34 PMEDT