Wednesday, September 5, 2007

Still Trading Lightly

Here's the deal, I barely traded again.

I'm trading gingerly this week as I regain my bearings. While I only officially didn't trade for 2 days, I've been on a mental vacation since the middle of August. I'm just getting my feel back this week.

Also, with my wife still ill and my daughter now running a fever, I haven't had the opportunity to focus on the market like I should.

Simply put I'm washing more dishes and blogging less these days.

That said, I did okay today. My best trade of the day was a short in ITU.

Here are my trades in ITU:

10:00:08 Short 900 @ $42.83 (-900)
10:00:41 Short 100 @ $42.73
10:01:31 Buy 200 @ $42.65
10:03:37 Buy 100 @ $42.63
10:04:10 Buy 200 @ $42.69 (-500)
Buy 100 @ $42.68 (-400)
10:08:47 Buy 200 @ $42.66
10:18:23 Buy 200 @ $42.33 (flat)

Had I been more patient with this trade I would have fared much better. It never traded back to my short entry so you could say I messed this one up. I'll regain my patience in time. Right now I'm definitely trading a little jumpy because I don't have a great "feel" for the market. My gut tells me it needs to trade lower but for the last couple of weeks it's been trading higher.

So I'm a little confused.

That said, it's important that I "lose the story" I have in my head about which way I think the market should be trading and instead just focus on what it's actually doing. There's some religious message there somewhere...

Anyway, short post, here's the stats:

P&L, $596
Best, ITU, $212
Worst, LDK, -$265

11,800 shares traded
11 stocks traded, 7 winners 4 losers
81 trades