Monday, August 13, 2007

I'm Cursed

I will be a daytrader forever. Whenever I hold positions overnight, I get smacked.

Recall that last week I held AMG and LAZ long overnight after GS "cleared the air" late in the day Wednesday, only to come out Thursday morning and fuck it up again thereby smoking my longs.

This morning GS fucks me again, as I stayed short TFX over the weekend. Clearly, they knew this and decide to hold a conference call pre-open this morning to "calm the markets." Now the futures are gapping up 20 points... sigh.


mOOm said...

At the moment overnight volatility is very high and it is hard to hold a trading sized position. In less volatile times the overnight volatility is much less than in the daytime and it can make more sense to hold overnight. I'm not holding futures positions overnight at the moment. In less volatile times I do.

Dinosaur Trader said...


Good points. I guess I just still can't believe that the stock ran so much and I was expecting it to take a breath. But right now, the unexpected is happening all the time so I'm not overly surprised. I took my loss.