Thursday, May 15, 2008

No Follow Through

I'm busy tonight, so this will be a very quick post describing my loss for the day.

Basically, today I got chopped. My biggest loser was for $67, but the problem was that my largest winner was also for only $67. I just couldn't get any follow through in my positions.

I had a couple that initially worked in my favor only to reverse negative. These included AGU at $89, BEC at $69, and MON at $125. In each of these trades I bought the stock, made a dime or so, and then got out as they quickly reversed through my buy points.

My worst stock of the day was ATW... this one I did as an "over lunch" hold. I short at $104, put my buy stop at $104.25 and went with Judy to watch our daughter's swim lessons. While I was out, the stock dropped all the way into the deep $102s, only to reverse strongly and stop me out at $104.34. A bummer, but not a bad play. I did have buy limits in, but they were below $102.


Sorry for the runty and humorless post. Enjoy the night.

Here's the stats:
P&L, -$249
Best, BHI, $67
Worst, ATW, -$67

10,800 shares traded.
12 stocks traded, 4 winners, 8 losers.

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