Another very light game as the market was quite choppy after a huge gap-up. 10500 shares each way on 9 of 14 shooting, +406 before commissions, +231 after, no bullets. Pre-Market: Huge gap-up and I knew we were in for a tough game. Broker downgrades but I am not going to short financials when futures is up 1%. 9:30: Nice open fills on MRK/BMY longs and score 25 cents off MRK, 12 cents off BMY, lost 3 cents on BA short. I tweaked my list of open plays as I would only do the most liquid S&P 500 stocks. I know for a fact that I will not be looking for anything more than quarters here and the goal is not the money but the excellent warm up it provides. Trading big caps off the open print gives a nice sense of where the overall market is and that can be very valuable once I load up the main game plan. 9:35: Broker rally, felt odd but went long LAB and lost 5 cents. Went long SPF and lost 10 cents, very fortunately exit as the home builders tanked and next print was almost 30 cents lower. Wish I bulleted some home builders but I waited for a rally and sure enough, like the way it has been every day, they rebounded later. 9:55: Market held, looked for a new high and possibly a trend day, took WDR and out for flat. Took TER and made 10 cents, took MGA lost 10 cents. Tried IRF, very tough stock and in a choppy market he is just way too deadly with the fills, churned. 10:30: Looked for a oil rebound and there was none, churned WFT/SII/NBL/NE. 2:00: Choppy market so took it light. Went long MHO/SPF on home builder rally and scored 30 cents a piece, I was up 200 something and I basically just mailed it in. Didn't want to ruin my best week in a long time with a loss, swept the week and extended my winning streak into 6 straight games. At slightly above 4K for the month, this has the potential to be my first five digit month since . . . a year ago, last March, when I scored 17K. With 15 games left, I don't need much, but I have to be as consistent as I can possibly be. Team Stats: 9 Active Traders +1545 before commissions (5 of 9 positive before commissions) -678 after commissions (4 of 9 positive after commissions) 103000 shares each way on 29 of 72 shooting (40.2%) Top 3 Symbols: AXL, APC, DAL Bottom 3 Symbols: ZLC, AMR, BR
Magna, trader99, Commisso good job guys, I know I had seen her pic somewhere and was looking all over the net for a match, phew...
Dam I am busted! But my fantasy for that actress was good whilst it lasted... darn, too many Chinese film fans on Elitetrader!
In the upper-right corner of your screen is a Search link, type in "bullet" and you will find many, many discussions of that subject.