TODAYS EXECUTIONS: 15:57:55 PSFT SLD 2000 20.21 15:55:16 NOK SLD 2000 14.38 15:54:10 KLAC SLD 2000 54.40 15:50:54 PSFT BOT 2000 20.33 15:48:19 KLAC BOT 2000 54.36 15:45:22 KLAC BOT 2000 54.26 15:45:03 DELL SLD 2000 27.05 15:39:11 KLAC SHRT 2000 54.78 15:36:44 QLGC SLD 2000 48.30 10:01:46 QLGC BOT 2000 47.86 OPEN POSITIONS: LONG PALM 10000 3.63 -1.25 CLOSED P&L: $360.00 OPEN P&L: ($12,500) MTD: $48,350 YTD: $207,682 * I had typed about a 2 page commentary and my computer locked up and didn't save a damn thing! What I basically wanted to say is due to terrorist warnings coupled with Memorial weekend I closed all my longs except PALM even though I still would have liked to hold NOK and DELL for a few more days. The last 2 weeks have been prime examples of why you shouldn't trade everyday just because the market is open. My trader friends had a very bad week and didn't understand since they were short most of the time. This market is aimlessly jumping up and down and most traders are following it around trying to catch it. I received quite a few PMs asking if and why I've stopped posting my plays and the answer is I've decreased my trading significantly due to this market and haven't come across any plays that I'm willing to open. I'm staying away from swing trading until this market calms down but I will step up my daytrading if the conditions are right like I did the last hour today. Hope everyone has a great holiday weekend!
Stocks Slightly Higher US equities are slightly higher in early trading. April personal income matched expectations while spending came in below estimates. Dynegy's (DYN) CEO resigned and Intel (INTC) is higher despite reduced earnings estimates by one analyst. US Treasuries are lower and world markets are mixed.