Monday, May 21, 2007

Sleepy Market, Sleepy Trader

Like I mentioned in my morning post, it was a long weekend here. What I failed to mention was that before I spent 17 straight hours in the field documenting bird species for a local environmental advocacy group I had only 2 hours of sleep because we had friends out for the weekend. So I woke up this morning feeling very groggy.

It worked out because I really traded lightly on a day where I otherwise would have over-traded.

My best stock of the day was again, TNH.

Although I really missed the money trade by getting long off the open. However, with the way this stock has been moving, I decided that was more of a missed dice roll than a missed trade.

Here are my trades:

9:55:03 Short 200 @ 85.87 (-200)
10:07:07 Buy 100 @ 86.39 (-100)
10:16:13 Buy 100 @ 84.80 (flat)
10:47:50 Buy 100 @ 84.94 (100)
13:04:11 Sell 100 @ 86.60 (flat)

Short and sweet. I made $218 in the stock and enjoyed a nice lunch out with a friend to boot.

Anyway, I traded TNH today just to basically "keep up" with the stock even though I knew I would be taking it easy today. He's been such a good mover and I didn't want to get out of the game. Basically, by trading him (however small or infrequent my positions were) I was forced to actively watch him. That will put me in a better position to trade him tomorrow should he be moving.

Although, I do expect that unless TNH can make a new high soon that the volatility will dry up in him. That's unfortunate, because right now I'll take volatility wherever I can find it.

Tonight I plan on sleeping well. Tomorrow I plan on trading.

Here's the stats:

P&L, $355
Best, TNH $218
Worst, DE -$62

shares traded, 12,200
stocks traded, 16, 9 positive, 7 negative
total trades, 109

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