Trading Journal, December

Discussion in 'Trading' started by STOCKKBROKER, Dec 18, 2001.

  1. LSI $34
    Bought this on the second print!! Never did this before lol. Got filled at $15.60, I thought the stock would move in sympathy with AMD revising guidance, but unfortunately the stock did not go much higher than 80c, got out at 70c for a 10c scalp, which is what the stock is good for anyways. Should have gotten TER instead, have to pay more attention to these semi stocks.

    WB $13
    Bought this at 9:54 when BKX was rallying, unfortunately this stock has a very tight range, not a good stock to trade with the sector, should have gotten COF instead. I wouldn't have to trade this sector if XNG and OSX was moving, but because of impending OPEC news tomorrow, neither sector made a significant move.

    NBL -$87
    Traded the stock a couple of times. Bought it at 9:59, got filled at $34.42, the stock went as high as 50c, before coming in and I finally got out when a 10000 offer showed up at 49c, I was a second slow in hitting the 48c bid. 2800 shares got hit and the next bid was 3600 at 40c. Offer stepped down to 42c, and I should have hit the 40c bid, I put my stop there and I got out at 35c. Should be more decisive next time. Bought it again at 50c, and bid stepped up to 50c, 2 minutes later another 10000 showed up at 52c, should have hit the 51c bid again, if I knew this specialist well enough, I finally got out at 44c.

    EOG $68
    The stock moved too slow today to give any decent profit, (volume is totally lacking today )I should have gone to the stock when I first saw XNG ticking up, I was about 5 minutes late and I had to put up 20c for the stock, got filled at 77c and the stock went into a lot of resistance close to fig. Kept my stop really tight, since at this moment, I just found out that I got filled with NE, and OSX is tanking..... great.

    NE -$116
    Worst trade of the day, I was trying to check out the stock on AT and accidently hit buy on my order entry. I didn't know that I got filled at 71c and went about watching some other trades, and I finally realized the mistake, a big offer had stepped down to 70c, and bid was getting knocked out, I finally got out at $34.50. I was down $100 without even knowing why.

    STR $32
    A really good but slow developing trade, it is like watching paint dry, got filled close to the low at 06c, and the stock took about 30 minutes to move 20c, finally sold it at 20c when it seems to encounter some problems at 25c. I knew that if the stock can break the quarter it will probably go up to at least test yesterday's high at 48c, I tried to buy it again at 21c, but I couldn't hold on through a little shake out and I sold it for a 3c loss, the stock did break the quarter and closed at 45c, but not before printing 11c, so no big deal.

    CC -$41
    Second worst trade, this stock got hammered down even when RLX was ripping and I decided to pick a bottom. I am just asking for trouble with a thick stock like this since, it got sold off for a reason. Bought it at $25.92, another bad entry should have waited and see if big offer will show up at the fig. Here's a weird thing, the stock was double printing all the way up from $26.00

    26.03 * 26.05
    2* 4900 print at $26

    25.96 * $26
    2* 2000 print at 98c
    2* 2900 at $26

    25.90 * 25.93
    2* 2000 at 91c
    2 * 3000 at 92c

    25.97 * 25.98
    2 * 1000 at 97c

    25.94 * 25.98
    2 * 1100 at 97c
    2 * 1200 at 97c

    25.93 * 25.94
    2 * 6500 at 94c
    2 * 1800 at 94c

    25.93 * 25.98
    2 * 1000 at 98c

    25.93 * 25.95
    2 * 3600 at 92c

    25.85 * 25.89
    2 * 2000 at 85c

    25.76 * 25.81
    2* 3000 at 76c

    25.76 * 25.77
    2 * 4000 at 76c

    25.75 * 25.77
    3 * 2000 at 75c

    25.73 * 25.74
    2 * 1000 at 73c

    25.72 * 25.73
    2 * 2000 at 72c

    This goes on for the rest of the day until the stock hit 20c. I am not sure if you can read much into this, but from what I can see, there might be 2 sellers in the stock and the are hammering the stock down? Can anyone comment on this?

    BJS $47
    OSX was flat most of the day, but I was able to scalp a little bit on BJS nothing major.

    MET -$26
    One final push to the black, IUX ripped higher towards the close at around 3:30, all the insurance stocks were going up and I tried to pick HIG, but there was a huge sellers at 10c, so I bought MET at 85c, stock couldn't go anywhere, and when IUX finally ticks down, I sold it for 3c loss. Meanwhile HIG went up 20c from where I saw it, just my luck.

    One mistake in the morning sealed my fate today.
    Ended the day down $76 as the rest of the afternoon was totally dead. Tomorrow is going to be better, need to make $250 to push my net to $1000, hope I can do it.
    #41     Dec 27, 2001
  2. DeeMan



    It does look like there were two sellers, but it's always easier to tell after the fact. When I start to see double (or triple) prints it always gets my attention and the first question I try to answer is which way is the momentum is going. If the momentum supports my suspicion of two buyers/sellers I then want a meaningful double print, which is at least 1,000 shares for the stocks I have been trading (volume between 200,000 - 1,000,000 shares per day). The significance of the size of the prints though really is relative to the average trading volume of the stock. I think CC trades a few million shares per day though, and I have noticed that I personally use that strategy better on the less liquid names. When a stock trades a few million shares a day, it's not uncommon for a 5,000 or 10,000 share retail order to be dropped on a dot machine, or to be executed at the market. When this happens, the two sellers get a present by splitting prints at the offer, and we just get confused and start second guessing ourselves.

    #42     Dec 28, 2001
  3. STOCKBROKER, you ain't doin nothin but takin up space. You are always down and you got nothin to show 4 nyour efforts but a load of BS! When r u gonna make a few $$$$? HA!
    #43     Dec 28, 2001
  4. Pro.. sheesh, are you still mad over bikini girl? get over it already..

    #44     Dec 28, 2001
  5. Dee Man
    You are right. I made a mistake by going into a thick stock to begin with.

    This is how you message appear on my thread

    "This person is on your ignore list, click here to view the post "

    So don't even bother wasting your energy annoying everybody here, nobody is watching what your posts anyways.
    #45     Dec 28, 2001
  6. Ahh, Protrader re-emerges with a new nick, as my old friend, Mr. TradeRX! Long time, no see... how are you doing these days?
    #46     Dec 28, 2001
  7. qwik, no, i'm still mad about the fly on an elephant's butt remark.

    candle, what????? who????BTW, thanks for your resplies on the other thread. i'm thinking over your remarks.

    STOCK, yeah, they are all watching your posts for a good laugh. hehe
    #47     Dec 28, 2001
  8. EOG $109
    The stock opened unchanged and went down a little bit below the open. XNG started to tick up and I got the stock at $38.93, after a big bid of 13600 showed up at 81c. It went as high as 21c before a 11400 offer showed up at 21c. Just hit the bid right away as I did not want to risk a shitty reversal like OSX. Printed 17c, that was the temporary low, even on 11400 offer the stock didn't tank!!!!!!! Damm 18c, printed a bunch of times and the stock went straight up to 60c. Still think I did the right thing, but I should have gotten out of half of my position instead the whole lot.

    WFT -$77
    Worst trade of the day, OSX gapped up and the all of the sudden gapped down, breaking the open and stocks were printing everywhere. Got filled at $38.06 and 2100 bid stepped up to the fig. Bid stepped up to 06c, and I was sitting pretty good, as OSX was ticking up real hard at this point. OUt of nowhere 2900 bid at 06 was hit and I was left holding the bag..... Should have hit 200 at 02 and 300 shares at the fig. and I knew I was in trouble when nothing showed up at the bid. Offer stepped down to 97c, and I got out at 93c, it went as low as 90c before gong back up to $38.60, I missed the bottom by 3c......................... unbelievable!!!!!!!

    BJS $238
    Luckily I didn't get shaken out of this OSX play. Got in at $33.21 after a bid stepped up to 16c with volume. Stock trended smoothly and bid keep stepping up. Went as high as 80c, before 5900 offer came in at 80c, I knew it was time to get out, small shares tried to lift it but I knew it was before time, should have gotten out at 77c, but a little hesitation and I got filled at 71c. Went as low as 63c, before a 16500 offer was taken out with one print, I wasn't watching the stock at this time, I should have gotten back in immediately, if I saw this as the stock went as high as $34 after that.

    STR -$16
    Tried to pick an OSX lagger, but the stock is range bound today, should have noticed that it didn't run at all yesterday after a big run up on Wednesday, if anything the stock will sell off a little. Couldn't get anything after I was filled at 37c, some big offer came in at 43c, and the stock couldn't go anywhere after that.

    KMI $12
    The stock got beaten down today maybe in sympathy with AYE, got filled at $56.29, after 4000 shares bid stepped up. Stock went as high as 35c, before a 8000 shares offer showed up and the stock stalled, bid got hit and I got out, at 34c, a couple of minutes later, offer started lifting and I wanted to get back in when only 4600 was left, before I can hit send, offer taken with one print and the stock spreaded up to 47c, just my luck, could have made another $50.

    Big hoopla about OPEC cutting and I didn't get a single oil stock, could have gotten MRO and TDW for 50c scalp. Pretty low risk considering the strength in XOI, but I don't usually play these stocks so I hesitated a little bit. What a crappy shake out OSX did in the morning, the WFT totally destroyed my concentration, I would have made a lot more in EOG and BJS if not for that, but oh well. I am up $270 as of now, I think I might just take it easy for the rest of the day, since the afternoon is going to be dead anyways, might come back to play the last hour, since I am expecting some spectacular imbalances. But then again, being new here you cannot participate in MOC's, and they might even make you stop trading after 3:30, so I don't know how useful it is to be here. I am up $1020 after 2 weeks here, pretty unspectacular, but it is o.k. as my goal for now is consistency, if I can take a little bit of money out of the market everyday, then it will be a matter of time before I step up my size and do some real damage.
    #48     Dec 28, 2001
  9. CAM -$96
    Walked right into this one. OSX ripped at the open and then 10 minutes later tanked as hard as it did last Friday, all hell broke loose as there was no bids to hit. Got filled at $41.29 at 9:37, it was probably a bad entry as there was no bid anywhere and when I saw the offer being taken, I rushed in. 29c refreshed and got taken, offer spreaded up to 45c, all of a sudden 6400 came in at 35c, and 100 shares at 28c bid was hit, next bid 100 shares at 22c, 200 shares printed at 23c, next bid 05c!! what the hell he is killing the stock. The stock retraced a little and I could have gotten out at 31c, 100 shares stepped up to 32c, then 800 to 34c, 35c print for 100, next bid 200 at 23c????? and then 1100 printed at 10c. I finally couldn't take it anymore and I got out. There were too many mooks out there today and they were panicking and hitting bids stalling any possible movements to the upside plus the lack of volume made the stock looks like it was on crack!

    EOG $193
    A very strong stock today. The stock opened down 25c and drifted lower when OSX tanked, but the stock held its ground and started to go north. Got filled at 90c and immediately 5000 shares bid stepped up. Stoc trended smoothly until 35c when 6500 shares offer came in at 35c, should have gotten out immediately at 34c, 400 shares bid were hit and I got out at 31c. Stock went down as low as 25c before hitting 60c later in the day. This stock was so strong that it refused to break the 25c fig. on numerous try but the lack of buyers didn't make it go any higher.

    WFT -$131
    Got killed again in this stock after I lost $76 last Friday. Got filled at $38.17, after a 3500 shares stepped up to 06c. 17c print for 3400 and the 06c bid was pulled. Damm ..... maybe the guy saw that OSX and pulled it right away. Next decent bid was at 97c for 2900. I should have put my stop there. Stock traded around the fig. for a while and the 03c offer came in for 11000. The next bid was 92c for 2300, I got out here. I made a mistake by allowing too much room for this stock. I knew I was wrong when the 06 bid was pulled I should have immediately put in a stop at the fig. the most and let it trade until I got stopped out. Because of the low volume today, I didn't have enough time to get out when I wanted to. Stock eventually crashed to close at the low at $37.25.

    NBL -$36
    Tried another XNG since EOG rallied I thought the sector would rebound. Got in at $35.28, probably a little earlier than I really wanted to as there was no bids around to hit just in case this stock won't go up, 500 shares showed up at 28c, and when 200 was hit, he pulled the bid, next stop 20c, I got out at 23c. Turned out 15c was the low and the stock ripped all the way back up to $35.90 after! Poor entry on this stock, as I literally got filled in the middle of nowhere.

    PD $52
    Could have been a very easy stress free trade and yet I messed it up. This is a gold stock and being the first time trading it, I really don't know how this stock moves, after today I know.... one work SLOWLY .... XAU was ticking up and I picked one of the stock in the sector that was still down. Got filled at $32.45, 10c from the low. Had I known the movement of this stoc I would have put in my stop at the low of the day and just watch it. It went as high as 50c before coming in for a little shake out and I thought the stock was done even though the sector was still ticking up. I got out at 48c, thinking of getting in again if it breaks 50c. Bought it again at 42c, when 1800 shares stepped up. I put my stop on 1200 shares bid at 54c. I was stopped out 30 minutes later, 2 minutes after that 60c offer taken out for 45K shares, and the stock rallied all the way up to 90c!! Why did I put my stop there?? I don't know maybe 50c, but 1c below the last print?? What a waste.

    TDW -$101
    Again a bad entry, as there were no real bids supporting the stock. I got filled at $34.34 and there were just 200 shares at $34.33, SOME MOOKS hit it and the next bid 20c. Offer stepped down to 33, 31, 30 , 26 and I have to get out. A 2500 shares came in at 25c, and 200 stepped up to 27c, I put my stop there thinking that the worst I would get is 25c. I got out at 26c. IT IS VERY IMPORTANT TO HAVE SOMETHING TO LEAN ON IN CASE YOU ARE WRONG AND WANTED TO GET OUT. The stock went as low as 1c before coming back up. At 11 am, OSX looks like it was going to go up, so I picked up TDW at $34.50, with a 4300 bid at 49c. 5000 shares offer at 50c was lifted about 10 minutes later, and small bid stepped up to 50c 400 shares, after 13600 print at 50c. 200 got hit another 200 at 50c and the next bid 39c! What happened to the 49? I got out at 42c.

    SGY $21
    The worst part about this trade is that I was too cheap to pay more to get it. This is a very illiquid stock and I didn't want to go in with market order and pay a huge spread. The market was 62 * 64, 5*2, I out in a limt order to buy at 64c and got filled 100 shares. Bid stepped up to 64c, 200 shares and I can still get the 200 shares at 69c, somebody took a 100 and the offer lifted and next offer 75c. If I was unwilling to pay 69 I am not going to pay 75c!! The stock ran to $40.15!!!! I should have gotten in after the bid stepped up, I can always dump it. Stupid mistake.

    APC $13
    The stock got sold off and now is coming off its low, I got filled at $57.01 with a 2400 shares bid at the fig. Stock trended nicely to 15c, when a 1000 double print at the offer. I should have read too much into this as this is a fairly thick stock. But I out my stop at the bid at 06, thinking that I won't get stopped out. Guess what I did get stopped out!!!! and the stock went as high as 60c.
    Another bad stop, I should have left my stop at 01c, or the fig.

    AHC $102
    Finally something decent, XOI got sold off in the morning and starting to tick up a little bit. This is one of the slowest stock I have ever traded, bought this at 75c, with 2200 shares bid at 72c.
    Took the stock 45 minutes but it finally broke through the fig. at $63.00 on a 20c spread. It wasn't that big a spread but I took my profit right away thinking that the move was over, I got out at 99c. I was right, the stock didn't move much after that, it went as low as 98c before ticking up and I thought it would break through the fig. again bought it at $63.03 and it didn't go any higher than that got out for flat the second time.

    BJS $43
    OSX looks like it had bottomed out at around 2:30 p.m., took BJS thinking that we might rally into the close, but with tax loss selling and the fear that something might happen tonight, nobody was really buying. Got the stock at $32.37 with a 11900 bid a penny lower, took the stock 30 minutes to break through some heavy selling at 40c. When 10000 shares offer came in at 48c, I quickly got out, unfortunately I didn't hit the 45c bid fast enough and I had to get out at 41c. The stock printed as low as 41c before doing a u turn and start taking the offer at 48c. I have to remind myself not to be so wary about stationary bids and offers, only when they step up and down should I be more careful. Got back in again at 48c, and the stock traded as high as 60c before coming in, I got out at 55c the second time. Had I hold on to my stock the first time around I would have have made $80. Poor exit.

    What a slow, uneventful day today was. I totally fell in the OSX trap this morning and I couldn't find any trades after 11 a.m. to make up for the 2 big losers. Had to scalp 10c here and there the entire afternoon just to stay in the black. Ended up the day with a $50 profit, rally Mc Donald's money, but I would rather be up than down any day, even if I was just up $1.

    Tonight is going to be freezing, hopefully nothing major in terms of terrorism happens. I am going to drink a lot of bubbly tonight as 2002 will be the best year of my career as a trader. I can just feel it.

    Happy 2002 everybody. :p
    #49     Dec 31, 2001