Thursday, May 1, 2008

A Mixed Day, But Still Positive

There was a lot of "juice" in the market today. The problem was that I went to take a sip, slipped, and most of it ended up wasted on my shirt.

I missed a bunch of trades early, and managed to screw up a few others.

The most painful miss of the day for me was DVN, a stock I was watching to break $111. The stock had good volume, the sector was weak, and it had a decent setup. The problem was that I was a little early to the trade and got caught in the chop.

So starting with that loss put me into protection mode early, I was down $233.

Also on the loss side of the ledger were boneheaded trades in UBB, and GWW and pure fuckjobs in FDX and BVN.

But I had a few good trades too. The best in STP, as a short. FSLR was getting killed, and while STP didn't have the volume I was hoping for, I thought the base good enough to give it a shot.

Another good trade came in FCL. Coals were weak, and I was watching $57 as the number here. It made a nice base at the #, so I got short when he popped through.

Both STP and FCL were good trades because I held for decent moves.

My big miss on the day was BHI, which I short at $79.29... I took a half point, and left a few points on the table. Frustrating.

Anyway, here's the stats:

P&L, $161
Best, STP, $306
Worst, DVN, -$233

12,800 shares traded.
13 stocks traded. 5 winners, 8 losers.


Anonymous said...

Do you ever surf the big waves like AMKR on a daily basis? Just curious.

Bluedog said...

That DVN was a chopfest! Nice you came out positive today! :)