Closing Out Another Bad Week

Gross: -$96.00
Net: -$150.73
Loss From Top: $371.50
Trades: 43
Shares Traded: 83200

Stocks Traded Today (net profit/loss):
Champion Enterprises Inc. (CHB): +$269.34
Motorola Inc (MOT): +$88.62
United States Steel Corporation (X): +$55.49
The Goodyear Tire & Rubber Company (GT): +$36.17
National Semiconductor Corporation (NSM): +$23.97
The Men's Wearhouse Inc. (MW): -$17.45
Con-Way Inc. (CNW): -$35.47
Big Lots Inc. (BIG): -$51.06
NYSE Group Inc. (NYX): -$56.75
General Electric Company (GE): -$70.86
Pier 1 Imports Inc. (PIR): -$102.37
Quiksilver Inc. (ZQK): -$139.48
EMC Corporation (EMC): -$150.67

Sorry for the late post.....I'm gonna make this one a short one.

This morning it seemed like I started off on the wrong path yet again (for the 3rd straight day in a row) as I started the day off with a few losers.

Even though I tried trading a few different types of stocks in the morning, I still was not able to book a winner....even on 100 shares.

I was finding that my positions would initially go my way, but would then reverse and I would have to take a loser.

I then tried to go back trading some of the more familiar stocks I usually trade, without much luck.

The last few days I'm finding that a lot of the breakouts quickly fail....it seemed like the only day I had some kind of success trading was on Tuesday - and that was the day in which I took my profits quickly and got out of losing trades even quicker.

Maybe this is the way I'm going to have to trade in the next little while....just take winners quickly and get out of those positions that go nowhere.

I tried trading some of those high-fliers today....I just could not get shorts in the morning and I kept trying to chase it down to try to get short, but I was never able to do so.

Most of the time I was just too slow in taking a position. I missed out on an MA trade, but I would later see that it would quickly reverse. Similar thing happened on ICE and I'm just glad I never got the shares for these two stocks.

One that I did miss and was a good opportunity was on NMX. I tried to go long $121.00 after it kept trying to test that level in the afternoon and when it finally broke around 2:30PM, I missed it....NMX would just take off from there.

Today was also just the result of some poor stock selection - I tried to trade PIR, ZQK, EMC and GE - all of them poorly timed and poorly executed.

Not too upset about the day today - just trying a few new things. After watching MA, ICE, NYX and NMX all day today, I still can't really figure it out (maybe there weren't good setups today), but honestly those stocks looked more random than the stocks I usually trade....

I mean just take a look at a chart 5-minute or 10-minute for GE and EMC...to me, those look more predictable than what I saw on those high-fliers (again, it might have just been the just for today...I'll keep watching)....not that I was able to make money on those stocks as my focus just seemed to be everywhere today.

I have a feeling I probably need to trade something in-between....something that moves...but not move too much.

Anyways, not going to dwell upon the last two weeks too much...have a good weekend all.

Good Trades
11:17:24AM - Champion Enterprises (CHB) was moving up and I went long 2000 shares after pushing up to new intra-day highs. I held it and got out when it appeared as though the Futures and the overall markets seemed tired. I got out as follows: 13-cent winner (1600 shares), 16-cent winner (400 shares) ($272 profit before fees ; Long 2000 shares @ $8.25 ; Out: 11:50:46AM)

Bad Trades
None.