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."
NCR
Bought this for the LT account. Saw the huge volume in it yesterday, like the way it's held up, and just felt like going in... stopped at $24.
REITS
Take a gander at the way the REITS closed yesterday's session...
Check, SSS, KIM, VNO, SPG, MAC, CBL, etc.
Sizzling.
Same Shit, 34 Years Later...
I saw my mother last night. Her father was a printer for the New York Times back in the 40s thru the 70s. I was born in 1974, and for my birth, I received a miniaturized cover of the NYT from that day. Since she's cleaning out her attic, she gave me the copy.
Anyway, I thought it was interesting. Here's the big headline. How depressing.
ARAB DECISION TO END EMBARGO
ON OIL SALES TO U.S. IS REPORTED;
LEVEL OF OUTPUT UNDER STUDY
Quick Results On Gasoline Are Expected
Can't we move on already? What a tragedy that we're still discussing the same shit, 34 years later. We owe it to our children (and grandchildren) to not make this an issue for the next generation.
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