Wednesday, June 20, 2007

Boredom And LNN, Lindsay Manufacturing

Well, I had another nice morning of surf and then I hit the screens. I was relieved to see the favorable earnings report put up by LNN. I held 400 shares into the report and the gap up helped my mood a lot!

There is a gigantic short interest in this stock which was first pointed out to me by "the Fly". And of course, there was the Wallstrip episode.

I added to my position on the pullback this morning and then sold those shares during the conference call, which was short and sweet.

A couple of things I picked up from the call:

-declining steel prices help Lindsay
-positive economic conditions for farmers help Lindsay

Should be fun to watch the next few months.

Anyway, so I've stuck to the new trading style today. One problem I'm encountering is extreme boredom. I'm a trader, but really, I'd rather be out watching birds, reading books or playing with my daughter. Since I'm not trading a gajillion shares a day anymore I find I'm losing focus. This is something I'll have to work on. I guess I can use the new free time to scan charts and look for setups, but man, it's boring!

And yes, Woodshedder, I checked the link about trade setups you provided the other day in the comments section. Much appreciated, thanks!

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