Wednesday, August 22, 2007

Market Rallies On Low Volume

Not really a half day. I traded very lightly from 9:30 to 10:30 and then from 3 to 4pm. I think that will be my modus operandi for awhile.

I had more important things to do... like, go to a vacuum repair store.

Surf has been rough lately. Need the winds to shift.

Now, back to the market.

I got really lucky with LNN right off the open. I bought 200 shares at the open and sold it about 3 minutes later for a point. Silly, I know. But whatever, it was my best stock of the day. I made $180 in it.

On the other hand, I took a little smack in AVB today.

The REITS were rallying early and so I bought some AVB around $118.45. It immediately dropped. Ugly. Anyway, I didn't get crazy or anything, I just sold. Meanwhile, I've decided this stock trades like shit and so I'll be avoiding it from now on. I mean, if the stock is doing one thing while the REIT index is doing something entirely different I don't want to watch it.

So it looks like there was good money to be made today. The solar stocks were strong, the metals were very strong, and... well, most everything was strong.

Still, I'm happy to watch this market largely from the sidelines right now. If I can manage to make a little bit of money each day from here until Labor Day while also enjoying time away from the screens I'll be ready for the "real sell off" in September.

To me, this feels like a bull trap. However, time will tell.

Here's the stats:

P&L, $108
Best, LNN, $180
Worst, AVB, -$140

shares traded, 12,800.
11 stocks traded, 6 winners, 5 losers.
87 trades.

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