Friday, May 16, 2008

Stock Trading

First of all, I was getting all excited about the coming Russell Rebalancing, but after watching the way MOCs have been acting lately (horrible) my enthusiasm is beginning to wane.

I had a couple of good trades today. Best news is that I didn't make one bad trade. I made a couple of bad trades by omission... or by covering too early, but I didn't have one bad entry today.

After the carnage I suffered last week, I was very happy with my performance this week. I had 3 up days, 1 flat day (-$11) and one down day. Closing with strength today gives me some confidence going into next week.

Anyway, my best stock of the day was BHI. This has been on the HCPG watchlist for awhile. With the early strength in oil, it was one of a few stocks I was planning on watching intently at the open.

Afterwards, I broke even on an SLB trade. Then, I noticed the run in ag stocks. CF was up near $142 but couldn't break above, so I short 100 shares at $141.73. This turned out to be my "worst" trade of the day, not because I lost money on it, but because I didn't respect my buy stop, at $142.01. Instead, I got nervous and took 15 cents, covering my position at $141.57. Look what happened after I covered...

Then, towards the end of the day, I made one final trade. It worked very well.

So, we'll see what next week brings. Hopefully, I can get positive on the month again. Whatever, for the weekend, I'll feel good.

Here's the stats:
P&L, $428
Best, BHI, $267
Worst, SGR, -$22

7200 shares traded.
9 stocks traded, 6 winners, 3 losers.

No comments: