Friday, February 8, 2008

SWC Rips, JJ Gets His Day In The Sun

I'm gonna keep this short and bitter.

I got hosed trying to "pick a bottom" in an earnings play... a high risk, high reward type of trade.



I was stopped out near the lows... very frustrating to see it rip about 10 minutes later.

My best stock was RHD. This was another stock that got slammed. At the end of the day, I caught a nice move from $18.45 up to $18.85. I had earlier losses in this stock, so I was able to make those back and go positive in him, netting $167.

I surfed in the middle of the day. Best waves for me in months. 4-5 foot and perfectly clean.

So, sorry to keep this short and terse, but we have dinner plans and I'm outta here!

Don't forget to stop by and see what bloggerdotcom has to offer. Feel free to harass him via the comment section about his old picks, OMEX and SHERF.

Meanwhile, if you're interested in being a weekend blogger here, email me.

Also, holy shit SWC!

Here's the stats:

P&L, -$556
Best, RHD,
$167
Worst, TDG, -$297

16,600 shares traded.
12 stocks traded. 5 winners, 7 losers.

3 comments:

mdawsz said...

Long live JJ the palladium robot.

Dinosaur Trader said...

All he needs is an oil change now and then. He'll be here talking about palladium in 100 years.

-DT

wincity said...

Catching a plunging stock on earnings used to be one of my favorite plays. It's very hard. Once in a while, you turn out to be very wrong. Majority of the time, you get in too early. It's confidence shattering.

I don't play it anymore. I believe there're lots of more reliable setups.

However, I still do the opposite: shorting earnings spikes. I feel it's safer. Obviously, the same issue exists. The wrong ones kill my confidence.