Friday, August 17, 2007

After The Storm, Some Quiet

I took it really easy today. So easy in fact, that I don't have too much to report here.

I was long 200 (UBB) overnight. It gapped up 7 points. I sold in the high $104s.

Problem was that I started to buy it back at around $99. It wanted to go down to $96. I lost about half of my gains getting in and out as it dropped those 3 points. What's worse however, is that I had about 800 shares again from around $96.20 and sold out at $96.50.

I was conditioned by all of my bad trades in the stock to think he was going lower again and I just sold when I had a quick profit. Basically, he ran up the rest of the day as you can see. That really pissed me off. However, instead of getting all vengeful and chasing it I let it go and walked away from trading for a couple of hours.

Before I took off though I got short some (MOS) and rode it down for a decent profit.

I didn't trade at all between 11:00 and 3pm. I just chilled, added some features to the blog and watched the idiots on CNBC.

At 3pm, I noticed that (MLM) looked like it might pop out of the base it had been forming all day.

It didn't make it... however, that didn't stop me from believing that it WOULD make it eventually... this was stupid and it led to my worse loss on the day as I stubbornly held expecting the stock to bust higher.

Anyway, thanks all for reading along this week. It's been lots of fun. Unfortunately, I had to cancel my vacation for next week because of all the volatility. I'm keeping a close eye on Hurricane Dean and the oil stocks for next week. If nothing develops there, it may be vacation time until after Labor Day. I'll keep you posted.

Here's the stats:

Best, UBB,
Worst, MLM,

shares traded, 39,000
23 stocks traded, 16 winners, 7 losers
220 trades

NOTE: Be sure to check out the new "Feed" options I have placed on the blog and let me know what you think.

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