An Easy Day

I really chilled out today. It was easy because my first trade of the day was also my best. All the damn banks gapped down again... any stock that had to deal with mortgages or anything like that gapped down.

All except one. RWT.



Somehow, this idiot managed to gap up close to a point. He even had a giganto bid hanging out at $30.50. If you had balls, you could have gotten short thousands of shares. It's the most liquidity I've seen displayed at one price since the inception of the hybrid market.

Unfortunately, I only got short 400 shares. But still, I made close to 2 points on some of those shares.

After that, I had similar trades in ANW and PMI. Similar in that I caught decent moves in the stocks with only small share size. It's too bad that I tend to catch bigger moves when I'm trading with smaller size. I'm sure there's some psychological lesson to be gleaned from that information, but I'm not digging it out today.

Anyway, that was it. My day was done. The only other thing I did was churn small positions in FED making him my worst stock of the day. Seriously, look at that graph... it would have been stupid to lose $20 in that stock today... much worse to lose over $200.



Look, because this post is short why don't you take the extra time I'm "giving" you to email your entire address book and tell them to read this damn blog. I write about licorice, stocks, surfing, the media... I mean seriously there's something for everyone.

Go "favorite" it or vote for it somewhere... I dunno.

Anyway, here's the stats:

P&L, $933
Best, RWT, $512
Worst, FED, -$269
17,200 shares traded.
11 stocks traded. 8 winners, 3 losers.
97 trades