Tuesday, March 13, 2007

Volume on the downside

Light volume rallies and heavy volume sell-offs. Not really much smoke and mirrors here, the market is weak and weakening further.

I'm frustrated beyond belief as a lot of my shorts that I got washed out of in the low volume rallies, SPY, AOB, GOOG, and CFC have taken big hits today.

The only short I really caught today was FED and it's my best stock of the day. I'm currently up $587 in him and have covered most of my position.

My two worst stocks of the day are heartbreakers. AGU and MTG. I was short both, just a little early apparently... in fact, I've learned something about timing these last two weeks. IT IS EVERYTHING. You can be right ultimately but if your timing is off YOU ARE WRONG.

That simple.

Oh, and if anyone thinks the hybrid "system" hasn't made stock trading erratic, take a look at the trades in POT in the first half hour of the day. NYSE stocks never used to trade so wildly so often. I hope something changes in time.

No comments: