Monday, October 22, 2007

Dead Cat Bounce? Or Stock Market Stability?

I was all ready today to short the shit out of the market... luckily for me, I didn't. Otherwise I would have been demolished.

Still, I tried. For my efforts I lost $1000 between 2pm and 3pm, when the market was actually going down... that's when I decided to stop trading for the day, so I missed the rally from 3pm to 4pm. Frustrating way to end the day...

Anyway, I made almost all of my money getting long the shippers today. EXM, DSX, ANW. I mean, it's hard to be happy about it though. Take a look at DRYS. I feel like I let my bearishness really mess with my trading today... I didn't size up at all in these trades.

The stock bounced from $103 up to $120. Moves like that are "month-makers." Instead, I pulled $200 out of the stock. Depressing.

I'm not going to whine about how much money I should have made today. That's bad form. I'll take my gains and keep trying for another big day soon. My confidence is building again... that's normally a good thing.

Anyway, AAPL just reported and the stock is surging afterhours. Is this market going to go right back up again? What about the SIVs? Turkey and Iraq? Bob Dylan doing a Cadillac advertisement... doesn't this stuff bode poorly for the overall health of the world?

Looks like stock market stability for now.

Here's the stats:
Best, EXM,
Worst, UBB, -$552

64,000 shares traded.
30 stocks traded, 18 winners, 12 losers.
298 trades.

1 comment:

lawrence said...

oh sucker ... drys ... argh!!! i wanna buy when it traded at 113... sucker argh!!! screw the market ... i hate it when there is no clear direction