Monday, March 12, 2007

End of Day 03/12/2007

Some end of the day volatility in the steel stocks brought me into the green for the day. Barely.

I traded 25 stocks today and made 289 trades.

I made money in 11 stocks and lost money in 14.

My best stock of the day was CRS. I made $349 in him.
My worst stock of the day was TNH. I lost $162 in him (see earlier post for trade anatomy).

Today was slow. That's right... yet another LOW VOLUME RALLY. And while I'm very bearish about this market short term, it's getting more and more difficult to watch these rallies slide by. I really need to rid myself of my bearish opinion on which way the market is going so I can free myself to trade intraday. Since I've been cut off from holding overnight positions for the time being, I should simply focus on intraday action.

I did a good job of cutting my losses today except in TNH. That trade was a nightmare.

I caught a spike in CRS at the end of the day and made over a point in the trade. I hate trades like that, but I'll take it right now.

It's all about getting my confidence back so that I can boost my position size again and get on the right side of trades.

Net $53.44

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