Wednesday, July 9, 2008

Steel Stocks Rise

Today was kind of lame... one dude in my office made bank, but a few others are currently getting clipped... hard.

Anyway, for me, it was a day full of small losses, with one redeeming winner to keep me green. The winner was a short on X. However, this trade doesn't fit into my recent HCPG type style. As I've improved my win-rate and P&L of late, I've also opened myself up to taking more risk again, which is essential on some level. So when I saw X running all morning and then print huge volume on a spike, I took a shot on a short.

It wasn't without any type of merit as far as "daily spots" goes... here, I was taking a bet that $169 would hold as resistance, at least for the short term, and it worked.

When it was turned back at $169, I short 100 shares at $168.23, but my buy stop up at the fig, and went downstairs to make myself a cup of green tea.

Lo and behold, the trade worked.

I also made a few trades in VRTX, from the HCPG list.

So I ended up slightly positive. Which I'll take, because I thought today was rather muddy. Plus, that means I get to continue with the string of good music that I, of course, drop with the sun.

Tomorrow I will not be trading. Good luck. If you happen to be at the Fleet Foxes concert tonight, I'll be wearing a t-shirt that says "No One Knows I'm A Lesbian."

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