Starting my journal today May 5th, 2002. I currently have two positions open from about 4-5 days back. Short 1000 HPQ 15.19 Short 1500 BEBE 15.23 BEBE is a long-term short. Friday it closed at 15.50 on 1/3 of the avg trading volume. Really have to keep an eye on both shorts on Monday. Good Luck Trading....
Target price for HPQ is to break even/15.75. HPQ hasn't been in the red for about a week now. STOP LOSS 17.19. I had contemplated shorting another 800 HPQ again today ~17.05, but opt not to. How would you play it ICEMAN with my entry?
hmmmmmmmmmmm daily shows it has broken out of the downward trendline 30 min shows plenty of support at 16.50 a small pullback in next two days but after that this looks to move higher. too bullish for me to be shorting plenty of strength. imo several attmpts to break below 15 but way too much support and now it is "moving on up" just a thought woodman
(Tuesday, 5/6) stopped out on HPQ at 17.19, should've covered early. added an additional 1000 SHORT BEBE 14.68. couldnt monitor the market all day on tuesday b/c i had to attend class, thus making some poor hastely decisions(bebe). oh well... make the trade and dont look back. so now i currently have 2500 SHORT BEBE ~15.01 all my eggs in once basket... csco and other tech giants are down after hours following csco's earnings report. nasdaq will be down wednesday pulling the dow along with it. Wednesday's forecast... BEBE will see <14.25 . Good Luck Trading...
lsudaytrade, Whoa, slow down there! IMHO, it sounds to me like you're careening towards a brick wall. You're shorting stocks in the strongest market in a long time. I looked at bebe and hpq, I don't see any shorting setups I would play. Despite several attempts, I haven't made any $ on shorts in several weeks - plenty on the long side though. Some questions / comments come to mind: What is your entry criteria? Are you looking at weekly and intraday charts for confirmation of entries? Are you starting w/ small share size when you're developing new strategies - 1000 shares is a lot of shares to be risking on a relatively new strategy? 100-200 shares / trade is not as glamorous, but if I can't make money on a strategy at 100-200 shares - I can't expect it to make money as I increase share size. If you have days you can't manage trades because of class, perhaps you shouldn't be trading right now. Successful trading is not a hobby you can devote 15 minutes to a day - it requires tenacious focused attention. Don't be in such a hurry, the stock market will still be around when you aren't in school (breaks, after college, etc.) I wish you the best!!!! Swish
thanks for the advice Swish.. in a rush, i'll answer your questions later. just worked a ten hour shift at the hospital 8:30pm-7am thurs. have class at 1:30pm-3pm. another class at 6-9pm, then hurry on off to work til 7am. fri. working on a paper dued at 6 tonite. btw, still holding onto the 2500 short bebe ~15.01. thursday's forecast.. bebe will see 14.00. i should keep quiet, everytime i open my mouth my stock goes in the wrong direction. happy trading...