Oh Geez.....

Gross: +$849.00
Net: +$803.60
Trades: 86
Shares Traded: 63800

Stocks Traded Today (net profit/loss):
OMI Corporation (OMM): +$464.54
JPMorgan Chase & Co. (JPM): +$209.21
Countrywide Financial Corporation (CFC): +$147.27
National Semiconductor Corporation (NSM): +$77.56
Washington Mutual, Inc. (WM): +$68.42
Centex Corporation (CTX): +$53.02
Celanese Corporation (CE): +$52.38
WellPoint, Inc. (WLP): +$49.86
AMR Corporation (AMR): +$33.88
The Bank of New York Company, Inc. (BK): +$27.65
Seagate Technology (STX): +$11.67
Banco Bradesco S.A. (BBD): -$21.33
Schering-Plough Corporation (SGP): -$22.75
Freddie Mac (FRE): -$26.11
Gerdau S.A. (GGB): -$30.00
Abbott Laboratories (ABT): -$46.63
Callaway Golf Company (ELY): -$54.29
Analog Devices, Inc. (ADI): -$72.45
Caterpillar Inc. (CAT): -$118.91

Oh geez....look at all the stocks I traded today...that's double or triple what I'm used to trading on any single given day.

So what happened?

Well, the morning went by well enough...a few good trades but then after the first hour of trade, I literally had nothing to trade.

So I sat around, waiting around and I just couldn't find many opportunities out there.

As I sat there, thinking of ways to find opportunities, I remember that a while back I really wanted to see what kind of services Trade-Ideas had.

So I went in to check it out and all I could say was that I wasn't disappointed!

I found myself constantly taking a look to see what momentum plays were currently under way and which stocks were making intraday and yearly highs at the moment.

And I couldn't believe how many of those plays fit exactly what I was looking for in a trade!

I don't know why I didn't try it out earlier (well, then again, knowing the kind of person I am, I know that I'm really reluctant to try new things), but today I'm glad I did!

Just before lunch I was up about $500 when I decided to see what Trade-Ideas had to offer and within an hour of using Trade-Ideas, I was up almost $1000 by trading those stocks!

I can definitely say that perhaps very soon I may start subscribing to their services (yes, yes, I know lots of other bloggers out there have been preaching and praising Trade-Ideas for a long time now.....I always seem late to the party....).

Anyways, later on in the afternoon, I think I got a little too excited about this new tool I found and I started making aggressive plays with only mediocre setups.

As a result, I kept taking hits during the afternoon and it just seemed like I kept getting faked out on a lot of moves out there.

I would go on to lose quite a bit of what I had made and at some point I decided to call it a day before I lose a lot more.

And for some reason, there always seems to be a stock in which I just can't get a handle on. Yesterday it was KO, today it was CAT. I just couldn't time my trades right on it and I think I just didn't feel it properly. As a result, I just kept taking loser after loser on this stock....very frustrating indeed!

Two good trades today and no bad ones.

I would like to start trading a little more aggressively in terms of share size. Right now, I'm putting on positions in which I feel comfortable with, but I know I can up my position sizes a little bit more before it becomes risky, so I may toy with that tomorrow.

Lastly, I'd just like to mention (again) that Dinosaur Trader has his Virtual Office going on and I really think it's a great idea. He's collecting the daily P&L of several bloggers and you can go to his site to quickly take a look to see how the various bloggers faired during the trading day. Today, Glenn from the Dehtrader has joined the Virtual Office (the more the merrier!) and if you'd be interested in joining, contact Dinosaur Trader.

Good Trades
(trades in which I make $200 or more)

• 9:38:55 - OMI Corporation (OMM) had gapped up in the morning and was slowly moving up. When OMM cleared the $29.10 level, I went long 2000 shares. This stock moved really really slowly, but at least it was moving up. When OMM reached the $29.15 level, I tried to go long another 1000 shares, but got partially filled for 200 shares (altogether I was long 2200 shares). Suddenly, OMM starts moving aggressively up and I took some of my position off the table until I had 300 shares left. OMM just continued to rip up, but I got greedy with that last 300 shares and instead of getting out for an 80+ cent winner, I had to chase prices back down. I got out as follows: 14-cent winner (1000 shares), 15-cent winner (600 shares), 33-cent winner (300 shares), 34-cent winner (100 shares), 38-cent winner (100 shares), 60-cent winner (100 shares) ($466 profit before fees ; Long 2000 shares @ $29.10, Long 200 shares @ $29.15 ; Out: 10:06:13AM)
  
  

• 9:46:17AM - JP Morgan (JPM) had also gapped up and moved aggressively up. While I was in my OMM trade, I sas that JPM was about to break the $52.00 level. I had originally wanted to go long 3000 shares, but because I felt that managing two positions at the same time would be too much for me to handle, I only went long 1000 shares at $52.00. JPM just took off once it broke the $52.00 and I got out because I was more concerned with my OMM trade and so as a result, I got out as follows: 20-cent winner (500 shares), 22-cent winner (500 shares) ($210 profit before fees ; Long 1000 shares @ $52.00 ; Out: 9:47:31AM)
  

Bad Trades
(trades in which I lose $150 or more)

• None