Friday, July 20, 2007
HPT, $125 on 4 contracts traded.
OBAT, $24 on 6400 shares traded.
Denarii, $5 on 84 shares traded.
Bubs, no trades.
Misstrade, -$692 on 2000 shares traded.
Me, -$726 on 11,200 shares traded.
Well, you can read my brief story on the day below this post. It was just not the day to be buying stocks.
Maybe it wasn't an easy day to be selling stocks either! No money was really made today, and I'm not taking away from the guys who were green. It's just odd that on a day when the market moved so much that no one was able to pull some money from it.
Well, I hope everyone has a restful weekend. During earnings season were all probably at our desks too much. Get outside and have some fun.
Well, I got washed out early today, so unfortunately, I'm writing this post before I even get a chance to post the Virtual Office.
I must say, it's strange being on the sidelines while I watch the market reverse. And I'm pissed about it too, but I realize that I'm just angry at myself for letting myself get chopped too much this morning.
It was clear early that stocks weren't going up. Yet, for some reason, I kept looking on the long side. I bought, LNN, VMI, SFL and CF. Even more frustrating, when I finally decided to get short, I short AGU, NOV and WNR and these stocks squeezed me out.
So what I'm doing here by watching this reversal is taking my medicine. It really sucks too, but I think it's the best thing I've done in awhile. I'm out of the market and watching it. The reason why I'm out is because I'm following my rules.
Unfortunately, there was a miscommunication with my company. You'll recall that I asked them to shut me down if I went down $500 on the day. They thought I said, $1000. So I end up losing -$726 today.
Ah well. Overall it was a good week. It stinks to end this way but I'm being forced to learn a lesson and hopefully that helps me in the long run.
Enjoy your weekend.
Here's the stats:
Best, MA, $139
Worst, WNR, -$344
shares traded, 11,200
10 stocks traded, 3 winners, 7 losers
total trades, 65
Oh, and a hattip to ToddsTrade for helping me with my html. Now, when you click on a link it will open a new window instead of sending you away from here.
From their new E.P.
Also, if you happen to be in the NYC area, they'll be playing at the Mercury Lounge on August 9th and 10th.