Is That All I Can Muster? (Fri Mar 10 Results)
Gross: +$180.00
Net: +$76.86
Loss From Top: 99.65
Trades: 53
Shares Traded: 109400
Stocks Traded Today (net profit/loss):
Micron Tech (MU): +$100.04
Pfizer (PFE): +$51.55
EMC Corp (EMC): +$22.62
JP Morgan (JPM): -$3.16
Bank of America (BAC): -$9.63
AT&T (T): -$10.10
Bell South (BLS): -$36.57
Sprint-Nextell (S): -$37.88
I will never ever trade EMC Corp (EMC) ever again! On a day when traders out there should be raking it in (on such a big up day), I ended the day with a pathetic showing.
On Friday morning, just before the market moved up big, I had a choice of either going long on Micron Tech (MU) or EMC Corp (EMC). I ended up going long 5000 shares on EMC and I was thrilled that the markets continued to push up. But what happened? EMC hardly budged at all! The S&P Futures ripped up at least 4 handles (16 ticks), but EMC only moved up 1-cent! I held that stupid EMC position for what seemed like the longest time, but still it did not budge. I ended up taking a 1-cent winner on it.
Had I gone long 5000 shares on MU instead of EMC, I could have made 20-cents or more on the trade (that's $1000 or more!). This is exactly the reason I refuse to trade Time Warner (TWX) any more because it too usually doesn't move much (because it's too thick!). Looks like I'll be adding another stock to my "Do Not Trade" list...
Of course, after the huge morning move up, the rest of the day was rather trendless and I couldn't get anything going the rest of the day.
There were no good trades nor any bad trades on Friday (though there SHOULD have been a good trade in the morning).
After a relaxing weekend, I look forward to the coming trading week....
Net: +$76.86
Loss From Top: 99.65
Trades: 53
Shares Traded: 109400
Stocks Traded Today (net profit/loss):
Micron Tech (MU): +$100.04
Pfizer (PFE): +$51.55
EMC Corp (EMC): +$22.62
JP Morgan (JPM): -$3.16
Bank of America (BAC): -$9.63
AT&T (T): -$10.10
Bell South (BLS): -$36.57
Sprint-Nextell (S): -$37.88
I will never ever trade EMC Corp (EMC) ever again! On a day when traders out there should be raking it in (on such a big up day), I ended the day with a pathetic showing.
On Friday morning, just before the market moved up big, I had a choice of either going long on Micron Tech (MU) or EMC Corp (EMC). I ended up going long 5000 shares on EMC and I was thrilled that the markets continued to push up. But what happened? EMC hardly budged at all! The S&P Futures ripped up at least 4 handles (16 ticks), but EMC only moved up 1-cent! I held that stupid EMC position for what seemed like the longest time, but still it did not budge. I ended up taking a 1-cent winner on it.
Had I gone long 5000 shares on MU instead of EMC, I could have made 20-cents or more on the trade (that's $1000 or more!). This is exactly the reason I refuse to trade Time Warner (TWX) any more because it too usually doesn't move much (because it's too thick!). Looks like I'll be adding another stock to my "Do Not Trade" list...
Of course, after the huge morning move up, the rest of the day was rather trendless and I couldn't get anything going the rest of the day.
There were no good trades nor any bad trades on Friday (though there SHOULD have been a good trade in the morning).
After a relaxing weekend, I look forward to the coming trading week....
posted by J.C. at
3:20 p.m.
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