An NYSE Scalper's Tale - A Trader's Diary

Tuesday, September 19, 2006

Waiting For The Fed...

Gross: +$519.00
Net: +$426.33
Loss From Top: $69.37
Trades: 91
Shares Traded: 79000

Stocks Traded Today (net profit/loss):
Corning (GLW): +$368.28
Advanced Micro Devices (AMD): +$70.88
Motorola (MOT): +$52.87
Walmart (WMT): +$34.54
Home Depot (HD): -$48.31
Exxon Mobil (XOM): -$51.95

Aside from the fun slide we had near lunch time when Yahoo (YHOO) warned, I found the rest of the day extremely boring. Couldn't find really many setups or stocks that fit my criteria for trading, so I ended up dilly-dallying with some stocks on small share size just to pass the time.

I couldn't take the boredom so today I left 20 minutes early. Most of my gains were made on one trade in which I rode the coattails of the YHOO warning when the overall markets began tanking.

And look at the paltry number of shares traded today...sheesh!

Tomorrow should really wake me up as the Fed is announcing whether they are raising rates at 2:15PM. I just hope the prelude to the number is not too boring!

Anyways, I'll keep this post short...I hope some of you out there were able to catch the YHOO move and make lots of $.

In the meantime, I'm just sitting here waiting for the Fed to kick start the markets one way or the other...

Good Trades
11:38AM - Corning (GLW) was starting to fall while the Futures were starting to move down. YHOO had just warned and the Futures looked very shaky. I went short 1000 shares when a level broke at $23.35 and then the Futures just started puking down...I managed to get another 1000 shares short at $23.33. I held this sucker for what seemed like an eternity and I got out as follows: 13-cent winner (900 shares), 17-cent winner (100 shares), 20-cent winner (1000 shares) ($334 profit before fees ; In: 11:38:50AM ; Short 1000 shares @ $23.35, short 1000 shares @ $23.33 ; Out: 11:49:45AM)

Bad Trades


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