Friday, August 17, 2007

Taking A Breath

I'm never really good at morning gap-ups so I've been taking it easy.

However, I still managed to make a bunch of good trades mostly on the short side. I caught nice shorts in both MOS and AGU.

One exception was a gap-up long in UBB. I had 200 shares and watched it gap close to 7 points. I took profits but then gave half back trying to buy it again. I just missed catching a really great long in it but I sold for no good reason in the $96s... that's when I decided it was time to step away.

Anyway, there was loads of opportunity out there. If you're into short scalping, as "Streetsmack" over at Wallstreak is, then this has been your type of day.

For me, I'm a little mentally exhausted from yesterday. For now, I'm taking my nice gains on the day and chilling out until further notice. If my buddy is able to hit the water again, I'll be doing that this afternoon instead of trading. We'll see.

I'll leave the "Rs" to Prospectus and Richard today...

Meanwhile, "the Fly" has a bunch of speculative hurricane plays... that is, if you feel Hurricane Dean will "mushroom cloud" the Gulf Coast, as he apparently does.

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