Thursday, May 29, 2008

Feeling Vengeful

So, I'm gonna walk away and enjoy the day. Just know this, MON will probably trade up today without me... I got in at $125.50, watched it run to $126 on huge volume and then got stopped out at $125.30 when it came back down.

So, I was pretty sure I was just getting fucked, so I bought back at $125.28 and then got stopped out again just below $125.

The whole thing made me kind of angry. I feel pretty confident that it's going over $126, but I guess I'll have to miss out on the bonanza.

I'll take my $200 and move on... I don't see too much else for me and I don't want to give all my money back today getting angry with MON.

6 comments:

wincity said...

You were buying spikes in a dull market. At about mid-day, the toad is trading at about 1/3 of its average volume.

Dinosaur Trader said...

I wouldn't say I was "buying spikes" but you're correct that his volume is underwhelming... that's why I only had 100 shares.

Also, the volume in the market today isn't awful... we're clocking in at between 1.2 and 1.3 billion. Not great, but better than recent numbers.

Anyway, "the toad" (love that) is back at $124. I hope he stays there so that $126 could be a good trade for the late afternoon or tomorrow.

-DT

wincity said...

I insist that you were buying a spike, dude.

This used to be one of my profitable setups: shorting spikes in a dull market. Very reliable and very fast. I stopped when I got burned by probably FMCN on its way to super stupidity. The toad is very deflated now.

Looks like we're the only ones trading, eh?

Sanglucci said...

Visa DT, the juice was in Visa this morning you shoulda been all up in that ass

Dinosaur Trader said...

Win,

I'll let you win the "buying a spike" argument if you tell me what your current "most profitable setups" are... :)

Sang,

I saw the V, and the juice most certainly was there. However, it doesn't suit my current style. Considering that he's nearing the highs though, I may get back in there one of these days soon.

-DT

wincity said...

I'm actually polishing up my wonderful setups for sale. If you give me a pump, not only I'll tell you my most profitable, you could take a peek of them all.

And you'll also get some commission. Who knows, maybe you could moneytize your 3rd tier blog into some big bags of potato chips. With this 2nd source of income, you might be able to relax in your trading.