Monday, December 15, 2008

Smoked Myself Early

Notice the wording on that title. I just traded like an idiot, trading way too much size on a dead day. There's absolutely no volume.

Specifically, what I did was try to short JPM with size through $29. Apparently, that's a very sticky area today and I got chopped.



I'll come back in the afternoon and try to shave this loss. Ahead of the Fed meeting tomorrow, you should be hitting singles, not swinging for homeruns. Word to the wise.

4 comments:

Attitude Trader said...

Sorry dude.

It might make you feel better to know that people all over are still trying to immortalize you...although they're doing a pretty crappy job.

-AT

Danny said...

Thanks DT.

"singles not homers"


something I remind myself of

Dogwood said...

FYI, $29 on JPM was the day's S1 pivot point.

Dinosaur Trader said...

Dogwood,

Ah the pivot point... I have been paying more attention to them, btw.

It's just that the financials were leading the market down, and 29 was a nice fat number that JPM touched in the morning. I was just too early to this one...

And Danny, yeah... we're in singles mode again. We need volume to come back. Probably not until after the first week of January.

-DT