Farewell...At Least Until Next Week Tuesday
Gross: +$784.00
Net: +$700.10
Loss From Top: 0
Trades: 54
Shares Traded: 80800
Stocks Traded Today (net profit/loss):
Home Depot (HD): +$291.41
Corning (GLW): +$180.79
Bell South (BLS): +$155.24
Hewlett Packard (HPQ): +$54.22
Walmart (WMT): +$26.35
Micron Tech (MU): +$17.27
Johnson & Johnson (JNJ): +$1.09
Motorola (MOT): -$26.29
Well, I'm off and packing! I'll be going on a cruise that will leave tomorrow morning and will not return until Monday evening.
Today, there were some wild swings in the morning, followed by a flat afternoon. Like the past couple of days before, I was up quite a bit within the first hour of trading (up about $450), and took it easy for the rest of the day to protect my profits.
Nothing really special to tell you about today. Some good trades made me a bundle, and one trade that lost me a bundle. My total would have been a bit more had I been more patient with one of my trades in which I exited too early.
But other than that one trade, I tried to practice my patience in holding winners today - and it paid of handsomely today.
Well, I'm off, so until next Tuesday, happy trading!
Good Trades
9:47AM - Both Home Depot (HD) and Futures were downtrending when HD met some size on the bid. When it broke, I went short 3000 shares and got out as follows: 0-cents (100 shares), 3-cent winner (1900 shares), 4-cent winner (900 shares), 5-cent winner (100 shares) ($98 profit before fees).
9:51AM - Corning (GLW) was uptrending and the Futures started moving upwards. GLW encountered resistance at the $26.50 level (there was about 150+ size on the offer). The Futures ripped up, so I got long 4000 shares. Got out as follows: 5-cent winner (2000 shares), 6-cent winner (2000 shares) ($220 profit before fees).
10:11AM - Bell South (BLS) had just curved downwards and encountered some size on the bid at $33.05 (there was about 500+ size on the bid). Futures started tanking, so I got short 3000 shares. Got out as follows: 7-cent winner (1000 shares), 12-cent winner (1200 shares), 13-cent winner (800 shares) ($318 profit before fees).
10:30AM - Home Depot (HD) and Futures were downtrending. HD reached the $41 level. When it broke, I got short 3000 shares and got out as follows: 4-cent winner (1200 shares), 5-cent winner (800 shares), 6-cent winner (1000 shares) ($148 profit before fees).
Bad Trades
10:09AM - Bell South (BLS) was downtrending, but the Futures were uptrending slightly. There was some size on the bid (150+ size), and when it broke, I went long 3000 shares. Bad move...BLS came back down and I had to get out the entire position for a 5-cent loser ($150 loser before fees).
Net: +$700.10
Loss From Top: 0
Trades: 54
Shares Traded: 80800
Stocks Traded Today (net profit/loss):
Home Depot (HD): +$291.41
Corning (GLW): +$180.79
Bell South (BLS): +$155.24
Hewlett Packard (HPQ): +$54.22
Walmart (WMT): +$26.35
Micron Tech (MU): +$17.27
Johnson & Johnson (JNJ): +$1.09
Motorola (MOT): -$26.29
Well, I'm off and packing! I'll be going on a cruise that will leave tomorrow morning and will not return until Monday evening.
Today, there were some wild swings in the morning, followed by a flat afternoon. Like the past couple of days before, I was up quite a bit within the first hour of trading (up about $450), and took it easy for the rest of the day to protect my profits.
Nothing really special to tell you about today. Some good trades made me a bundle, and one trade that lost me a bundle. My total would have been a bit more had I been more patient with one of my trades in which I exited too early.
But other than that one trade, I tried to practice my patience in holding winners today - and it paid of handsomely today.
Well, I'm off, so until next Tuesday, happy trading!
Good Trades
9:47AM - Both Home Depot (HD) and Futures were downtrending when HD met some size on the bid. When it broke, I went short 3000 shares and got out as follows: 0-cents (100 shares), 3-cent winner (1900 shares), 4-cent winner (900 shares), 5-cent winner (100 shares) ($98 profit before fees).
9:51AM - Corning (GLW) was uptrending and the Futures started moving upwards. GLW encountered resistance at the $26.50 level (there was about 150+ size on the offer). The Futures ripped up, so I got long 4000 shares. Got out as follows: 5-cent winner (2000 shares), 6-cent winner (2000 shares) ($220 profit before fees).
10:11AM - Bell South (BLS) had just curved downwards and encountered some size on the bid at $33.05 (there was about 500+ size on the bid). Futures started tanking, so I got short 3000 shares. Got out as follows: 7-cent winner (1000 shares), 12-cent winner (1200 shares), 13-cent winner (800 shares) ($318 profit before fees).
10:30AM - Home Depot (HD) and Futures were downtrending. HD reached the $41 level. When it broke, I got short 3000 shares and got out as follows: 4-cent winner (1200 shares), 5-cent winner (800 shares), 6-cent winner (1000 shares) ($148 profit before fees).
Bad Trades
10:09AM - Bell South (BLS) was downtrending, but the Futures were uptrending slightly. There was some size on the bid (150+ size), and when it broke, I went long 3000 shares. Bad move...BLS came back down and I had to get out the entire position for a 5-cent loser ($150 loser before fees).
- I should have been smarter - I was expecting BLS to bounce after a strong downward movement. I should have waited for a rip in the Futures if I had wanted to get long.
- I also held this position longer than I should have - I could have gotten out for maybe 2 or 3 cent loser, but there was some size behind my position on the bid about 5 cents from my position - when it looked like it was going to break, I had no choice but to get out of the position
- Also, the size I used for this particular trade was too big, considering it did not fit any of my trading criteria...instead I should have used either 1000 or 2000 shares
posted by J.C. at
4:34 p.m.
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