Monday, February 25, 2008

My Next Child Will Be Named "Momojuicing"

It will be hard to break that one to Judy, but I have to do it. Read on for details.

It's a little late for me to be starting this post (when you have a 3 year old, it gets late very quickly) so I'm going to make it somewhat brief. It's too bad actually, because there's a lot I need to work through. Still, if I'm anyone's bitch, I am the bitch of Father Time.

So here goes... I got a little smoked this morning trying to grab the breakouts in EOG and ECA. I was early to the game in both instances and was down a few hundred.

My first buy came at 9:50. I bought 600 shares just before the guy dropped 45 cents. So, I lost close to $300 there. My second buy came around 10:00, just before he dropped 45 cents... so, I was down over $500 in the stock. I was very discouraged at this point.

Luckily, the third time was a charm. Of course, when the stock finally broke out, I only had 400 shares (I was buying with 600 the first two times) but happily, I held on nicely (been working on that, so happy it worked out) and made my money back and then some. I ended up over $300 in the stock.

I had similar trades in ECA. So really, the first half hour of the day was a nightmare for me but I made it all back and was up a couple hundred by 10:30 or so.

Buoyed by my success in these oil trades, I felt very confident buying into DO when it traded $120. It was an important level on the daily, and I went in with 600. I was filled at the top of the move.

I lost a half point on most and, embarrassingly enough, even more on my last 200 shares. I lost $377 in the dude. Completely my fault. No ass-rape or anything like that... just a bad trade.

Okay, so now we get to the fun part, or the reason why my next child, girl or boy, will be named "Momojuicing."

So via email Momojuicing and I are conversing. He's like, "Man, I wish I could blog like you..." and, "I wish I was smart like you..." And I was like, "Yeah, well, I'd name my second child "Momojuicing" if I could trade like you..." and he was like, "Oh yeah? Well check out this MA on a break of $198." The graph tells the rest of the story.

I short 300 around $198. I covered 100 at $197.25, 100 at $196.39 and the last 100 at $194.18. So I went from being down a few hundred to up $400 after this trade.

So I felt good about the trades. The name thing sucks, but, what can you do?

Anyway, the even better news came when I closed the day strong. I caught the bottom in MA with 200 shares when the news hit about ABK. I sold 100 after I made a point, and rode the other 100 for 4 more points. So MA turned into one of my biggest winners in awhile, at $1098.

Here's the stats:

P&L, $804
Best, MA, $1098
Worst, DO, -$377

21,000 shares traded.
15 stocks traded. 8 winners, 7 losers.


Bubs said...

Nice trade on MA, I got smoked trying to frontrun MA at 198.50 and was stopped out 199.00. Was also watching EOG but my alert triggered at the open when the stock gapped above its trigger. I should have kept a closer eye on it because the first tick must have been bad and it never crossed its daily trigger.

Dinosaur Trader said...

Thanks Bubs.

Yeah, "frontrunning" EOG is what got me smoked in the morning...