Wednesday, May 16, 2007
My morning, and really my day is best understood by looking at the two graphs below. DE reported earnings, gapped up and then went negative. AG trades with DE, so the trade was to short both. This I did and I made good money in both stocks.
Unfortunately, I was in "light trading mode" because of the excessive churn of yesterday and also because I had an appointment to visit a potential nursery school for my daughter this morning. Therefore, while I caught over a point move in each stock, I only had 300 shares for each.
I also had good trades getting short HXM and LNN.
I had gains of a little over $1000 by 10:45. I had to leave for my appointment though, so I left a bunch of short positions. Everything was going great when I left so I felt pretty safe. I put my stops pretty far away and walked out the door whistling a tune of financial freedom.
Five minutes after I left my computer, the market bottomed and all my positions went against me. When I returned from my appointment, I had lost over half of my gains on the day. I was pissed, so instead of trading angry I just turned off the screens and focused on some spring cleaning.
Anyway, here's the stats:
Best, AG $379
Worst, CPA, -$344
shares traded, 16,200
stocks traded, 14, 7 positive, 7 negative
total trades, 145
EvolutionTrader, $1574 on 72,400 shares traded.
Me, $552 on 16,200 shares traded.
Denarri, $218 on 1400 shares traded.
One Bad-Ass Trader, $145 on 16,400 shares traded.
Dehtrader, $97 on 18,300 shares traded.
It was a light volume rally day, but whatever, you have to give this market some respect. Like a good sports team, it's finding ways to win. And the VO found a way to win too. For the first time since it's inception, everyone reported gains. Of course, we were a little shorthanded today, with Misstrade taking a day off and the Scalper on hiatus, but still... we'll take it, it was historic.
ET had a nice solid day and I had a decent day even though I only traded until 11:00am. Everyone else was slightly positive which, is always positive.
Let's see what tomorrow brings. Probably another up day that I'll just shake my head at in wonder... I'll post a brief synopsis of my day later. Right now, I need to go buy a lawnmower, my old one died a quiet death in my garage this past winter.
It won't be missed.
I don't watch the Soprano's but I regularly watch Wallstrip. Anyway, I don't even have HBO. Even if I did, I probably wouldn't watch the Soprano's because I'm Italian and I hate that everything Italian has to be mob related. I won't even start on the Olive Garden commercials..., but click that link for a hilarious parody of one.
Anyway, so I went on Youtube hoping someone had posted the clip of Lindsay in the Sopranos. No luck. However, I found this Hallmark ad that she was in.
I rate it a 10 on a puke-meter. It almost made me throw up. Who writes these ads? Does this shit sell cards? Lindsay was good though even if this stuff is below her.
It's been awhile since I posted one of these, but I couldn't resist.
Check out that 10 minutes of complete lunacy and disorder between 9:40 and 9:50 this morning. I don't have time to post a detailed analysis of this one (since it's the middle of the day) but I thought some of you might enjoy having a reason to say "Wow"!
Anyway, yet another bearish reversal in the indexes. Let's see if the market can hold on here. If not, we may be in for some (gasp!) down days in the near future!
Misstrade was the first to point out Ron Paul to me as a good candidate. I consider myself an independent, so even though he's a Republican (party of Bush, don't forget) I'll consider him.
Well, you know he must have some good ideas when it's clear that Fox News is out to get him. Makes you realize why the Democrats won't participate in any debates sponsored by Fox. Unfair and unbalanced.