Friday, July 6, 2007

Another Stock Market Rally

To keep with my recent baseball theme (even though I'm more of a hockey fan, sorry dad) I'll say that team Dinosaur Trader scored a run this week.

4 trading days and 4 singles.

Nothing crazy or anything, but then I was trading with really small size, often with 100 or 200 share positions. Hitting singles like today will keep increasing my confidence. Hopefully soon I will be comfortable trading 500-800 share positions again with this new method and then I can get back to making a respectable living.

That is after all, the plan.

For the time being, I'm going to keep with this baseball theme. We'll see how long it lasts.

Here's how I'll work it.

0-$100 = Ball
$100-$400 = single
$400-$800 = double
$800 - $1500 = triple
$1500+ = home run

I'm open to suggestions on how to do the loss side of the equation. For now, I'm not thinking about losses though.

Anyway, I had a pretty active trading day, especially since it was a summer Friday.

My best stock of the day was FSLR which is odd because I rarely trade Nasdaq. I was on the Wallstreak message board and "Stewie" mentioned JASO. This got me thinking solar which got me thinking FSLR. I liked it and hopped in at 95.50 for 300 shares at around 2:30.

It slowly trended up to 96, the high from the morning, which I was watching as a breakout area. Problem was that just as it hit 96 I was busy writing my Net Neutrality post and missed the opportunity to buy more. I also missed the opportunity to sell on the way up and instead got out of my shares at 96, on the way down.

Ah, the life of an idiot.

My worst stock of the day was OSK which I bought around 65 and got chopped out of. I won't even bother posting the graph. It flatlined. I thought when he traded 65 he'd break higher and move with CMI. Unfortunately they both stalled and I was caught in a stinker.

Ah, the life of an idiot.

But anyway, I had a nice day. I surfed pre-open and rode my bike the 4 miles into town to meet my wife, daughter and grandparents for some lunch. Best yet, since they know I'm struggling, they picked up the check!

Have a great weekend everyone. Should be a nice time to hit the beaches, the weather is perfect!

Here's the stats:

P&L, $291
Best, FSLR, $154
Worst, OSK, -$81

shares traded, 10,800
stocks traded, 15, 8 positive, 7 negative
total trades, 72

No comments: