Sold ABB

ABB (SWX: ABBN) stopped out at CHF 26.14 shortly after the open today. Loss 10.0% in 7 days.

ABB: received refund

Yesterday, my broker credited me with a refund of CHF 0.48 per share on the purchase af ABB (SWX: ABBN). This reduces my cost per share to CHF 29.04 and I change my stop-loss order to CHF 26.14.

The price has gone down since I bought the stock on Friday but yesterday closed for the first the time above the open and today for the first time did not close below the open in the first 30 minutes of trading.

Evaluating ABB

Yesterday, there were a lot more sellers than buyers for ABB (SWX: ABBN) from the outset and throughout the day but after the fiasco with Sonovan (SOON) I dared not risk giving a limit buy order. Today, before the open, sellers again far outnumber buyers and it will interesting to see how the price goes.

ABB has put a statement regarding the arrest of one of its employees on their website:

"ABB statement regarding Libya

Zurich, Switzerland, July 23, 2008 – ABB confirms that a Swiss employee is currently being detained by the Libyan authorities.

The ABB office in Tripoli has been temporarily closed. ABB is working closely with the Swiss Ministry of Foreign Affairs to seek a rapid resolution of the issue. Given the current situation, ABB will not be providing any further information."

According to an article in today's CASHdaily the price dropped not because of Kadhafi's antics but because the net profit for the second quarter was "only" 34% higher than last year. Apparently, the analysts had expected more.

It was a mistake to buy the stock before the earnings report and the usual selling frenzy that followed it.

Bought ABB

With the uncertainty in stock markets I bought nothing for quite a long time but this morning, after seeing that ABB (SWX: ABBN) closed above the trendline yesterday, I placed an order to buy it at market at the open. The order got executed at CHF 29.52

Yesterday's news about the temporary closure of the ABB office in Libya and the arrest of a Swiss employee – in retaliation for the arrest in Switzerland of Hannibal Kadhafi – seems to depress the price at the moment but I expect it to recover within a few days. Just the same, I enter a stop-loss order at CHF 26.58, 10% below my pruchase price.

Missed out on Sonova

I missed out on Sonava (SWX: SOON) yesterday. Buyers dominated the session throughout the day and the price closed at CHF 98.00. Today it opened at CHF 99.25 and buyers dominate again very strongly.

Next time I shall know better and order to buy at market at the open. I'll try to catch it on the next downward swing.

Buy order for Sonova

I place a limit order to buy Sonova (SWX: SOON) today at CHF 92.30.

Sonova plans to increase its turnover from the current CHF 1.2 billion to 2 billion within five years, according to a media release yesterday.

Sold Meyer Burger

My limit sell order for Meyer Burger (SWX: MBTN) was executed at CHF 288.50 within the first hour after the open, in several instalments. Profit 1.5% within 26 days.

Sell order for Meyer Burger

I really should have sold Meyer Burger (SWX: MBTN) at the open on 2 April but I had not followed its trend. Looking at the chart just now I decided to place a limit sell order at CHF 288.50, which was today's close.

Bought Meyer Burger

My order to buy Meyer Burger (SWX: MBTN) at market was executed at CHF 284.00 and CHF 284.50

Meyer Burger: buy order

Shortly after the open today I placed a buy order at market for Meyer Burger (SWX: MBTN)

I have been watching this stock for some time and the trendline gave a buy signal three days ago. Yesterday's doji gave me some doubts but today's open was strong and prompted me to buy this stock.

Bought hedge fund Reichmuth Matterhorn

I received confirmation today that my order to buy the hedge fund Reichmuth Matterhorn (ISIN No. CH0015193656) was executed on 27 February at CHF 4,161.35

SILC stopped out

Today, also Silicom (SILC) stopped out and was sold at USD 11.6001, with a loss of 8.6% in 5 days.

The high of USD 13.14 on Friday had given an activation price of USD 11.826 on my 10% trailing stop.

Sold UBS

After I bought UBS (NYSE: UBS) on 10 March at USD 28.91 the price rose to a high of USD 31.45 on 12 March, creating an activation price of USD 28.30 for my 10% trailing stop. This was triggered today at 11:21 EST and my stocks got sold at 11:22 EST at USD 28.17, with a loss of 2.6% in 4 days.

Bought Silicom

My order to buy Silicom (SILC) at the open was executed at USD 12.69 .

I place a trailing stop at 10%

Silicom:placing buy order

Silicom (SILC) gave me the expected buy signal yesterday, closing at USD 12.54, and I have now placed an order to buy at market at the open today.

I place a trailing stop at 10%

Evaluating Silicom

Silicom (SILC) yesterday closed the gap-up created on 28 January 2008 and the price has been on the rise since the open this morning. This stock could become a candidate to buy at the open tomorrow.

Bought UBS

My order to buy UBS at USD 28.91 got executed at 09:41:45

I place a trailing stop at 10%.

UBS long position liquidated

I found out only now that Ameritrade used the short sale of UBS I made on 19 February to liquidate my long position for the same quantity. This means that the UBS shares I bought on 16 June 2007 at USD 61.69 were effectively sold on 19 February at USD 33.6901, with a loss of 45.4 % in 248 days.

The limit of USD 28.91, at which I had intended to buy to cover my short position, was reached on three occasions today, at 14:22, 14:24 and 14:39-14:40 EST. As I was out when the email of Ameritrade advising me of the inability to execute my order to buy to cover arrived at 13:58 EST I was unable to buy UBS back at 28.91, which would have had the same monetary effect as holding the long position and carrying out the short sale and purchase to cover as I had intended.

I have now placed a limit order to buy UBS at USD 28.91, roughly the equivalent of CHF 30.

Roche pays dividend

Roche (ROG) paid a dividend of CHF 4.60 per certificate today.

Evaluating Silicom

After I sold Silicom (SILC) on 4 February 2008 the price moved sideways and in the last few days dropped. I plan to keep an eye on it for a possible new purchase.