Thanks guys.. I probably won't be trading tomorrow and possibly even the day after so this was a nice way to go into the break
<img src="http://puddles.humanfund.ca/20100804/spy.png"> <img src="http://puddles.humanfund.ca/20100804/rimm.png"> 9:35 SHORT RIMM 54.59 STOP 54.71 TGT 54.38 (should have been .35) - SPY gaps up - RIMM gapping down and weak on bad news - short the lower high - out +0.20 in 37 seconds.. http://puddles.humanfund.ca/wp/2010/08/04/2010-08-04-trades/
<img src="http://puddles.humanfund.ca/20100805/spy.png"> <img src="http://puddles.humanfund.ca/20100805/cf.png"> <img src="http://puddles.humanfund.ca/20100805/mon2.png"> <img src="http://puddles.humanfund.ca/20100805/rig.png"> <img src="http://puddles.humanfund.ca/20100805/mon5.png"> 9:35 LONG CF 84.61 STOP 84.49 TGT somewhere up there - SPY gaps down, CF gaps up and the whole sector looks strong - Super tight higher low sets up. I realize the spread is 25c and a 12c stop is not going to cut it - I fat finger the entry and CF immediately moves 30c against me - In a panic I just bail the position and slip another 20c - out -0.52 almost instantly.. 9:46 LONG MON 60.93 STOP 60.71 TGT 61.37 - Same sector strength, MON a cleaner stock with a tigher spread - Long the higher low - out -0.22 in 66 seconds GREAT START TO THE DAY! After these two trades I'm on super tilt and one trade away from stopping out on the day. I size down on all my trades going forward. You know what that means right? 3-0 run. 9:56 LONG MON 61.2 STOP 60.99 TGT 61.6 - This sector clearly wants to run, hit it over the bar above 61.00 - out +0.4 13:23 LONG RIG 57.69 STOP 57.51 TGT 57.99 - SPY dipped and went higher - RIG didn't dip, long the tight higher low - out +0.22 (messed up moving the stop and exited early) 15:25 SHORT MON 61.39 STOP 61.45 TGT 61.27 - As SPY makes new highs in the late afternoon MON continues it's drift downwards - Short the tight lower high - out +0.11 http://puddles.humanfund.ca/wp/2010/08/05/2010-08-05-trades/
Because of the size down I finish a 3-2 day basically flat.. awful.. Sorry for the late post, was too busy setting up my new 4 LCD mount (2x2 configuration).
Puddles, is that a 2-min chart you used to trade the open on CF? You are insane. Also, good to see you learned an important trading concept today: When your early trades are losers, you have to double down on the next trade. I discovered this two days ago when I was down around $260 on two back-to-back losers (because the market hated me that day, my platform was acting weird, my broker was front-running me, plus my chair wasn't good enough, I didn't have enough monitors, you know all that important stuff Bob tried to drill into me for months and here it was come back to bite me). So I then had a $200 winner, but I had neglected to double down, or better yet four-plex it and as a result I ended the day pretty much in the same shape as the earth: flat. Congrats on your four-plex.
Honestly.. Everything I play back in my head about the CF trade is one giant lesson learned.. There's so many reasons why that was just a stupid stupid trade to take. Given the outcome I probably shouldn't be making that mistake again anytime soon. I traded off one screen for the longest time. When I got the 2nd I didn't know what to do with the space.. I got used to it, then it got cramped.. After doing a sample layout with 3 and 4 in place I think I might be out of space again. You gonna stop by today?
<img src="http://puddles.humanfund.ca/20100806/spy.png"> <img src="http://puddles.humanfund.ca/20100806/gld.png"> <img src="http://puddles.humanfund.ca/20100806/twc.png"> <img src="http://puddles.humanfund.ca/20100806/mon.png"> <img src="http://puddles.humanfund.ca/20100806/frx.png"> <img src="http://puddles.humanfund.ca/20100806/aapl.png"> 10:00 LONG GLD 118.26 STOP 118.11 TGT 118.56 - GLD gap up, SPY gap down - Missed the long at .10 (to tgt in 10 seconds) - One more time - out -0.21 - stop didn't trigger at .11, lost alot more than i anticipated.. ugh 10:06 SHORT TWC 56.38 STOP 56.57 TGT 56.00 - Gaps down with SPY but heads lower while SPY heads higher - Short the last bar as SPY turns - Cheated on the TGT due to a round #.. (It blew right by it) - out +0.38 10:10 SHORT MON 60.81 STOP 61.04 TGT 60.35 - MON weak from the open while SPY tried to go higher - Short the lower high.. - out -0.25 10:49 LONG FRX 27.21 STOP 27.09 TGT 27.45 - lil birdie points out FRX to me during the big SPY sell off - I take it long, turns out they were looking short - I loved the strength of FRX holding a 10c range with great support at .10 all while SPY peeled off over 1% - out +0.19 on this leg 11:10 (small add) LONG FRX 27.27 STOP 27.18 TGT 27.45 - Sets up again, take it small, move all stops - out +0.18 I tried to get fancy on FRX and trail the stop up as I thought this stock had tremendous upside. I just trailed a little too tight. doh. (I was right too) 14:15 SHORT AAPL 257.94 STOP 258.16 TGT 257.52 - From 2pm onwards SPY makes a slow drift up - AAPL making new lows - got 11c from tgt too. - out -0.24 15:33 SHORT MON 60.14 STOP 60.23 TGT 59.96 - SPY ripping (for god knows what reason) - MON basically ignoring it - Almost got there - out b/e Lil afterhours news play.. 17:03 LONG HPQ 41.85 STOP 40 something TGT 45 something? we'll see how this pans out after the weekend.. counting today as 2-3 as the 2nd FRX add was tiny.. 14-8 on the week/month.. http://puddles.humanfund.ca/wp/2010/08/06/2010-08-06-trades/
I've been neglectful because the chat window covers my charts. Skype has been great, no windows on screen. I promise to drop in next week. We can trade POT together Nice trading, man!