Shade Sheist ft. Nate Dogg & Kurupt - Where I Wanna Be!!!

Dedicated to "the Fly," who died earlier today... RIP.



NOTE: "I love scotch. I love scotch. Scotchy! Scotch! Scotch! Here it goes down, down into my belly."

Entries and Exits

There have been so many times when I thought I was "on the verge" of getting my game back, only to get "deballed" shortly after. In the last couple of weeks, I've had that feeling, but then have days like yesterday, that set me back. Then there are days like today, where I manage to make money, but feel "deballed" nonetheless.

It's a tough game we play.

So here are my exits in OXY, my best stock of the day. While I made some money in it, the action highlights how much I can improve. I had 700 shares of this stock at an average price below $80 and made about $425 total, or about 60 cents... it ran over 3 points.



My next trade was in SID, another HCPG watchlist play. Here, I had 1000 shares from around $41.85. Below are my exits.



So I made about 40 cents total, on my shares and left another 60 cents on the table. Very frustrating. Because really, while the stock dipped back down to 20 cents, it was no where near my entry. Maybe I should have sold half there... but I should have held on to some instead of exiting the full position. Indeed, that was a great buy spot...

My third "good entry" of the day came in PCU. I rather hate this stock... he always seems to kick my ass, but today I had the upper hand. I had 300 shares just ahead of $120.



I'm also okay with this trade... as he had a quick and nasty shakeout below $120 just after I sold.

On the downside, I lost $300 today in ICE. This guy is tough. There was no volume today in the stock (until the close), and I should have just let it be. The only positive is that I traded him with small size and didn't make any revenge trades.



So to tie this post up, despite my lackluster performance today, and this month, I'm beginning to have more confidence in my entries. Once I start feeling that every time I buy a stock I'm not going to get screwed, I think I'll be able to work on my exits. And then, I can worry about sizing up again.

Here's the stats:

P&L, $680
Best, OXY, $432
Worst, ICE, -$297

10,200 shares traded.
9 stocks traded, 4 winners, 5 losers.

Virtual Office, -$1613. SPX, +30.10, 1366.00

Me, $680 on 10,200 shares traded.
OBAT, $315 on 7400 shares traded.
Denarii, $88 on 3600 shares traded.
Retardo, no trades.
Sanglucci, -$48 on 3000 shares traded.
Timmay, -$238 on 2800 shares traded.
Ainkurn, -$268 on 300 shares traded.
Dehtrader, -$2142 on 4450 shares traded.

Look, I'm just as confused as you are... and if my "proprietary market research" on who you are is correct, that means I'm pretty fucking confused.

In the last year, we've witnessed a few instances of these completely low volume huge rallies... after last February, after last August, and now. It's like, for months at a time the sellers take off to go visit sex clubs in Thailand, or something.

We rip on low volume, and then the sellers come back and we tank on high volume... wash... rinse... repeat.

Could I pin this on the hybrid market somehow? The inverse ETFs? The uptick rule?

All I know, is that the derided "degenerate OTB guys" that "the Fly" bashes on, are eating his cake right now.

Also, and this is unrelated to the market, I did a little experiment today. Over on Timmay's blog, I linked my "The Bookstore Monster" post with the words, "hot, eager, naked college chicks" and got at least 11 hits.

Anyway, I'll have an extensive daily post up later tonight... I have some shit to go over, because I should have made ten grand today.

McCain Wants To Freeze Gasoline Tax

Idiot. Panderer. Hypocrite.

Actually, I finally agreed with Dennis Kneale! You cut the gasoline tax, and gas would be cheaper at the pump, thus creating more demand.

Note to John McCain and the other presidential candidates (they're all regular readers)... We need to use less gasoline, not more.

Gasoline is already cheap in our country, and with 44% all of our income taxes going to fund completely idiotic wars, we need some money to help support our ailing infrastructure. It makes sense to use any federal taxes that are on gasoline to fix bridges, before they fall on people.

We should fucking RAISE the tax on gasoline while at the same time LOWER the income tax... or, at least, reallocate the income tax for better uses.