The addict

IOC, +1.27 points, +4.5 R

2010-01-28T23:20:00.000-05:00

Long IOC at 64.63, stop 64.35.
Out 65.9

IOC was down significantly for several days. I bought it after its volume jumped around 11:45, a pretty good indicator of a bottom. After it moved up above 65, I moved the stop up to 64.49. It came back all the way to 64.5 but I held on. It lingered for a good 1/2 hour and finally moved back up again. Got out near the 66 round number and also the previous congestion area.

Change of focus

2010-01-25T06:27:00.002-05:00

Haven't posted anything in a while. I've decided from now on to post only the trades that I did well in. I'm pretty cynical and pessimistic in general and tend to focus too much attention on the bad trades and the mistakes. A change of focus might do me some good. Hopefully as I do better and have more well executed trades, posting will become more and more frequent.

-1.38 points, -5.31 R (Grade F)

2009-12-18T00:15:00.003-05:00

Lost control today. Was having a decent day, up about 2.5 R before the last hour, then came CECO. My bad habits of buying falling knives and revenge trading took over and destroyed the week's profit. The stop prices posted below is not what the real stop was while trading, it's given to reflect the correct Rs lost during the rampage. I was trading on impulse and adding to losers. There were no neat and clean stop numbers to look back on.
I need to learn to stop my self from trading when things go wrong. Got to control that urge to get back at the market.

					(1.38)		(5.31)
		Enter	Exit	Stop	P/L points	Initial risk	R
short	POT	113.75	113	114.3	0.75	0.55	1.36
long	CECO	25.04	25.38	24.7	0.34	0.34	1.00
long	CECO	24.54	23.9	24.3	(0.64)	0.24	(2.67)
long	CECO	23.86	23.1	23.5	(0.76)	0.36	(2.11)
long	CECO	23.67	22.6	23.3	(1.07)	0.37	(2.89)

+0.98 points, +3.4R (Grade C)

2009-12-16T21:28:00.003-05:00

In and out of ESRX a couple of times today. Shorted right before the 1:30pm drop but didn't think it will reach the low of day again, and covered with only 30 cents profit. It went down 2 more points afterwards. Holding on to winners is what separate the pros from the amateurs.

					0.98		3.40
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	ESRX	87.24	86.9	87.5	0.34	0.26	1.31	1216
short	ESRX	86.71	86.4	87	0.31	0.29	1.07	1216
short	MHS	62.84	62.76	63.1	0.08	0.26	0.31	1216
long	ESRX	84.75	85	84.4	0.25	0.35	0.71	1216

+0.58 points, +1.28 R (Grade B)

2009-12-15T16:41:00.004-05:00

Minor gains yesterday, minor gains today.
Missed FDS short.

Shorted BBY at 42. Out at 41.57. The stock was obviously weak in the morning, it bounced off the low and made a few attempts at 42.5 but could'nt get over it. But the move down was very hesitant, I bailed a little early. Eventually it went to 41.

CSIQ was another slow mover. Bought when it broke the morning high at 25.67 Sold at 25.82. It made another dip to my entry point and then popped to a high of 26.27.

					0.58		1.28
		Enter	Exit	Stop	P/L points	Initial risk	R
short	BBY	42	41.57	42.5	0.43	0.50	0.86
long	CSIQ	25.67	25.82	25.31	0.15	0.36	0.42

-0.18 points, -0.45R, (Grade C)

2009-12-09T16:09:00.004-05:00

I thought the day was done by 2 pm and stopped paying attention. Just goes to show you that you have be alert at all times. Opportunities are lurking everywhere.

2 trades today.
AGQ, a counter trend trade that stopped me out at the low of day. Bought it 58.76, stopped out 58.37. Stop was set at 58.5, but the slippage on this low volume stock was too great. 2 mistakes on this trade. 1) got in too early, no signs of turning yet. 2) stop set too close.

NLST, in 5.76, out 5.97.

					(0.18)		(0.45)
		Enter	Exit	Stop	P/L points	Initial risk	R
long	AGQ	58.76	58.37	58.5	(0.39)	0.26	(1.50)
long	NLST	5.76	5.97	5.56	0.21	0.20	1.05

+0.93 points, +2.38 R ( Grade B)

2009-12-07T18:02:00.002-05:00

Shorted GS after it broke through LOD, covered about a point later.

					0.93		2.38
		Enter	Exit	Stop	P/L points	Initial risk	R
short	GS	165.51	164.58	165.9	0.93	0.39	2.38

break even

2009-12-02T15:39:00.003-05:00

Made a few scalps with AAPL and GS, ended up with a minor loss.

Passed on a long STEM trade at 1.30 in the afternoon.

+0.80 points, +3.52 R, Grade A

2009-11-24T16:43:00.000-05:00

2 trades today, short PC makers.

Shorted Dell at the open based on the daily chart as well as HPQ earnings bad for dell on a fundamental level. Closed at the end of day.

HPQ had a gap down at the open after good earnings. Shorted when it broke the 1st 5 min bar. Held it while the market was getting weak at the same time. Closed when market started bouncing. Did not want to hold this short as the fall was rather quick and heavy and too early in the day.

					0.80		3.52
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	HPQ	50.55	49.96	50.78	0.59	0.23	2.57	1124
short	DELL	14.53	14.32	14.75	0.21	0.22	0.95	1124

Taking a break

2009-11-09T10:35:00.003-05:00

Very glad I was out of most of the inverse ETFs early last week, still holding some SRS though. I will be moving to a new apt, so no trading till next week.

Not much going on.

2009-11-05T23:33:00.002-05:00

Made one long trade yesterday with DZZ lost 30 cents.
Made one short trade today with WFMI, made 50 cents.

+1.76 points, +3.93 R, Grade B

2009-11-03T23:50:00.000-05:00

Got out of FAZ and TZA and 1/2 SRS this morning.
Only swing postion left is 1/2 SRS. It's tunring in to a real disappointment. No strength at all.

Day traded a bit today. I noticed RIMM was strong off the open. Bought it and AMZN and AAPL as well thinking tech will rally. Only RIMM turned out to be the strong one.

					1.76		3.93
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	BDK	58.54	58.71	59	(0.17)	0.46	(0.37)	1103
long	RIMM	56.41	57.2	56	0.79	0.41	1.93	1103
long	AMZN	117.75	117.37	117	(0.38)	0.75	(0.51)	1103
long	AAPL	188.66	188.76	188	0.10	0.66	0.15	1103
long	RIMM	57.62	59.04	57.1	1.42	0.52	2.73	1103

Doji day

2009-11-02T20:43:00.003-05:00

Out of AMZN short at 117.8, entry was 122.6 +4.8 points.

Out some SRS as well.

The midday drop was heartening to see, but the slow creep up is hard to bear (sorry about the pun). I still think more downside is likely, but expecting a lot of choppy and sideways action. I will try to get out some more shares and let the rest ride.

Traps

2009-10-30T16:31:00.003-04:00

This Wed, Thur and Fri played out just like last week's last 3 days, only more exaggerated. Yesterday created a lot of bag holders. It's probably safe to say we will head sideways and down for awhile.

Still holding AMZN short, 1/2 TZA, 1/2 FAZ, added to SRS long.

SRS had a huge dip near the close, don't know if it's just MM playing tricks or if it's something more ominous.

Confusion

2009-10-29T19:58:00.001-04:00

I was expecting a bounce, but nothing close to this magnitude. I closed out half of everything this morning, the rest stops are set to break even. This is a great environment for day trading, not swing. Too much uncertainty in the market to establish a strong trend either way yet. I will shift focus back to intraday trading next week.

New position:

I shorted AMZN this morning at 122.6. It then went down 2 points, performing extremely weak despite of the surging Indexes. But it finally got pulled up near the close. AMZN still looks weak to me, if the market gives back some gains tomorrow, this should go down. Stop is set at 123.6

Looking to exit

2009-10-28T19:36:00.004-04:00

I'm going to partial out some tomorrow, don't want to be greedy. I still think there's more downside to go. The rally appears to be over, buying dips should be replaced with shorting rallys.

Tricky

2009-10-26T18:58:00.000-04:00

What a treacherous market, fake outs all around. But notice the down moves comes much faster and on heavier volume than the up moves. This probably means more downside to come, but one has to tough out the slow grind up.

Re-entered FAZ long at 19.55

Weekly Review

2009-10-25T08:07:00.004-04:00

Some one once said the market's job is to inflict pain on as much people as possible. Last week's yo yo action is a perfect example of this. Bulls and bears both got their asses whopped. The week ended on a down note and possibly more beating is on the way for the bulls. But hey, anything can happen. Right now I'm still long TZA and SRS. Both look like they are in a consolidating bottoming process and still haven't broken through their down trend yet. A couple of solid down days in the market will change that quickly. We shall see.

Easy come

2009-10-22T22:29:00.005-04:00

Well, that was fast. I got out
BAC at 16.38, +0.47 cents.
FAZ at 18.6, -0.30 cents.

Still holding TZA and SRS

Today's action caught me by surprise. You just can't relax in this market. I think so many people got burned shorting this market in the past few months, they are all very jittery and cover at the slightest sign of strength. Calling top is hard work, I would've been better off day trading this market instead. If I get stopped out of the rest of my swing positions, that will be the end of my swinging experiment for a while. Daytrading is where I am most comfortable. The big slack you'd have to give to swing positions is very hard for me to do.

Adding shorts

2009-10-21T18:48:00.003-04:00

Boy, gap down, fill gap, huge drop in the final hours, Ms. Market sure likes to tease people. I don't think the down grade of WFC was as big of a deal as the media made out to be. If it were, the GS downgrade last week would've done much worse to the market.

If you were watching GS today, you could've seen the drop coming. GS was flat all morning while the DOW ran up 100 points from the low. And it started dropping way before everything else was showing signs of weakness. Gotta keep an eyes on the leaders. Another warning sign early in the day was the divergence between the market and the dollar. The dollar was tanking against the Euro, that should've translated to a much bigger pop on the indexes.

I added to my long positions in TZA and FAZ and shorted BAC at 16.85

While one day does not a trend make. Right now the signs are starting to favor the bears.

Weekly Review

2009-10-19T19:55:00.001-04:00

I barely traded last week, so no trade summeries. I currently have a few swing short positions open

long FAZ 18.68
long SRS 9.68
long TZA 11.12

My reasoning behind the entries were:

FAZ - The financials had a huge run along every other sectors the last 2 weeks. It seemed like it ran out of steam by the time GS and BAC reported earnings. It's relatively weak compared to the S&P. If the market turns, financials would probably drop faster.

SRS - While all the other indexes were making new highs last week, IYR was noticebly weaker. It never broke through the high it made on 9/17. This could mean it's just lagging, we'll know more tomorrow when the housing numbers come out.

TZA - stupid counter trend trade, not much reason behind it except I think the market is over extended. Just a small position.

The market was much stronger than I expected today. Apple's earning is not helping either. Let's see how these trades play out.

Scalping

2009-10-15T22:51:00.003-04:00

Took a few losing scalps on FAS. The reaction to GS and C's earnings in the morning seemed weak to me. Maybe the market finally ran outta gas. Goog and IBM after hours kinda canceled each other out. BAC and GE is on tap tomorrow and it is also OPEX day. Gonna be interesting.

FWIW, my gut feeling for the market tomorrow is that it will be a down day. I doubt the earnings from BAC and GE is gonna push the market higher if GS, C and GOOG couldn't do much today. But anything can happen. Less predicting, more reacting.

No trading

2009-10-13T21:47:00.002-04:00

Just waiting for all the earnings to come out. The dollar is getting mauled. This relentless rise in the indexes may make people feel rich, but probably not many of them realize that the money they are making are getting more and more worthless by the day. So what if you're a billionaire in Zimbabwe.

Week 13 Review (-2.46 points, +0.21 R)

2009-10-11T22:21:00.003-04:00

Break even week. Big point loss due to a small overnight short position in FAS

Unbelievable week as the market went up 5 days straight. Easing the past 2 weeks' drop. The indexes are coming up to the 50% retracement from the all time high in Oct 07 to the low in Mar 09. With many big names reporting earnings and OPEX week, there's a highly likely chance this could mark a turning point. What happened last week could very well be a run before earnings and drop after scenrio.

					(2.46)		0.21
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	FAZ	22.71	22.28	22.28	(0.43)	0.43	(1.00)	1005
short	AAPL	185.49	185.95	186	(0.46)	0.51	(0.90)	1005
short	AIG	41.74	41.81	42.3	(0.07)	0.56	(0.13)	1005
short	FAS	78.23	83	80	(4.77)	1.77	(2.69)	1006
short	GS	188.63	188.8	189.3	(0.17)	0.67	(0.25)	1006
short	GS	188.31	187.1	189	1.21	0.69	1.75	1006
short	FAS	82.69	82	83.25	0.69	0.56	1.23	1006
short	TNA	45.05	43.7	45.5	1.35	0.45	3.00	1006
short	BGU	50.57	50.71	51	(0.14)	0.43	(0.33)	1006
long	DTO	79.31	80.89	78.6	1.58	0.71	2.23	1007
short	TNA	44.33	44.43	44.7	(0.10)	0.37	(0.27)	1007
short	FAS	81.66	81.94	82	(0.28)	0.34	(0.82)	1007
short	GS	188.76	189.15	189.3	(0.39)	0.54	(0.72)	1009
long	FAZ	19.71	19.5	19.2	(0.21)	0.51	(0.41)	1009
short	GS	189.13	189.4	189.7	(0.27)	0.57	(0.47)	1009

-0.87 point, -1.61 R, Grade C

2009-10-11T22:14:00.001-04:00

Made a few trades on Thursday, break even.

Friday

		Enter	Exit	Stop	P/L points	Initial risk	R
short	GS	188.76	189.15	189.3	(0.39)	0.54	(0.72)
long	FAZ	19.71	19.5	19.2	(0.21)	0.51	(0.41)
short	GS	189.13	189.4	189.7	(0.27)	0.57	(0.47)

+1.20 points, +1.13 R, Grade C

2009-10-07T22:53:00.006-04:00

Caught the initial spike up in DTO after the crude inventory numbers. Didn't get back in for the real run though. Shorted the leveraged ETFs around 2 pm, hoping for a repeat of yesterday, no such luck.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	DTO	79.31	80.89	78.6	1.58	0.71	2.23	1007
short	TNA	44.33	44.43	44.7	(0.10)	0.37	(0.27)	1007
short	FAS	81.66	81.94	82	(0.28)	0.34	(0.82)	1007

-1.83 points, +2.71 R

2009-10-06T17:10:00.005-04:00

FAS gave me a beating overnight. Good thing it was a tiny position, but it's a big loser in terms of points and Rs. I shorted a bunch of things midday when everything stalled and ran out of steam.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	FAS	78.23	83	80	(4.77)	1.77	(2.69)	1006
short	GS	188.63	188.8	189.3	(0.17)	0.67	(0.25)	1006
short	GS	188.31	187.1	189	1.21	0.69	1.75	1006
short	FAS	82.69	82	83.25	0.69	0.56	1.23	1006
short	TNA	45.05	43.7	45.5	1.35	0.45	3.00	1006
short	BGU	50.57	50.71	51	(0.14)	0.43	(0.33)	1006

(-0.96 points, -2.03 R) Grade D

2009-10-05T16:58:00.003-04:00

Surprise, surprise. The market went up triple digits again on low volume. I was impatient today, shorted the market way too early in the morning before I had a sense of what's going on. Still think we're headed down though. I entered a small partial position shorting FAS near the close.

					(0.96)		(2.03)
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	FAZ	22.71	22.28	22.28	(0.43)	0.43	(1.00)	1005
short	AAPL	185.49	185.95	186	(0.46)	0.51	(0.90)	1005
short	AIG	41.74	41.81	42.3	(0.07)	0.56	(0.13)	1005

Week 12 *swing (+11.47 points, +8.52 R)

2009-10-03T23:10:00.010-04:00

I shorted the market midday Wednesday and got out of mostly everything on Friday morning.

My closed positions were,

					11.47		8.52
		Enter	Exit	Stop	P/L points	Initial risk	R
short	TNA	44.78	41	48	3.78	3.22	1.17
short	BGU	50.59	47.03	53	3.56	2.41	1.48
long	FAZ	20.5	23.49	19.52	2.99	0.98	3.05
long	SRS	9.55	10.85	9.1	1.30	0.45	2.89
short	AAPL	182.76	182.92	185	(0.16)	2.24	(0.07)

Still holding DTG short from 25.5 and sold FAS Nov 20, 95 strike call options from 6.35

I used about 2 1/2 times more shares than the regular day trades. So the returns would actually be the equivalent of around 20 day trade R.

I took a few scalps on Friday with GS and FAS but came up about even, so no point listing them.

With last weeks drop, the indexes made a lower high and lower low. they might meander around for a few days before another drop. If it doesn't make a new high. I'll be watching to enter shorts again.

No day trade

2009-10-01T17:01:00.003-04:00

It seems more and more likely that the market topped out last week on FED day. Today's drop probably would've had happened yesterday if it weren't for EOQ pump. I'm holding some shorts made yesterday during the bounce, and also shorted AAPL at 183 today.

Game plan for tomorrow: if there's a small gap up, it'll probably get filled. If there's a gap down, depends on how big the gap is, I will be looking to get out of some if not all of my positions and re-enter short on bounce.

No trades

2009-09-29T22:15:00.003-04:00

Didn't have time to trade for the past 2 days, still in DTG short.

Week 11 Review (+3.09 points, +6.73 R)

2009-09-25T16:21:00.002-04:00

9 daytrades
1 loss
8 wins
0.888 win/loss raio (hey lucky eights!)

					3.09		6.73
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	AIG	53.44	53	53.8	0.44	0.36	1.22	922
long	FDS	66.83	67.1	66.5	0.27	0.33	0.82	922
short	AIG	46.5	46.2	46.9	0.30	0.40	0.75	922
short	AIG	46.7	47.1	47.1	(0.40)	0.40	(1.00)	922
long	SKF	24.83	25.32	24.3	0.49	0.53	0.92	924
short	RIMM	84.21	83.74	84.9	0.47	0.69	0.68	924
long	V	69.77	70	69.2	0.23	0.57	0.40	925
short	V	71.55	70.85	72	0.70	0.45	1.56	925
long	SKF	25.83	26.42	25.4	0.59	0.43	1.37	925

+1.52 points, +3.33 R, Grade B

2009-09-25T16:06:00.002-04:00

Closed out all my shorts from Wed except DTG, might close that one out on Mon.
I feel the market probably made a top on FED day. If the markets don't show much strength next week, I'm thinking about re-shorting.

Today's day trades

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	V	69.77	70	69.2	0.23	0.57	0.40	925
short	V	71.55	70.85	72	0.70	0.45	1.56	925
long	SKF	25.83	26.42	25.4	0.59	0.43	1.37	925

+0.96 points, +1.61 R Grade B

2009-09-24T17:58:00.003-04:00

Kept all my shorts from yesterday and added a little for swing trade.
2 day trades

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	SKF	24.83	25.32	24.3	0.49	0.53	0.92	924
short	RIMM	84.21	83.74	84.9	0.47	0.69	0.68	924

No day trade

2009-09-23T17:44:00.002-04:00

Didn't make any daytrade today, but I entered a few swing positions shorting the market. The reversal after the fed might lead to a few days of pullback. This rally seems really long in the tooth.

+0.61 points, +1.79 R, Grade C

2009-09-22T16:06:00.002-04:00

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	AIG	53.44	53	53.8	0.44	0.36	1.22	922
long	FDS	66.83	67.1	66.5	0.27	0.33	0.82	922
short	AIG	46.5	46.2	46.9	0.30	0.40	0.75	922
short	AIG	46.7	47.1	47.1	(0.40)	0.40	(1.00)	922

No trade

2009-09-21T20:47:00.003-04:00

This market is hard to trade, feels like it's waiting for a catalyst. I didn't see any setups today, except AIG which I missed. The midday retracement was shallow and provided a good spot to enter long around 12:30.

Week 10 Review (-0.69 points, -2.49 R)

2009-09-20T08:58:00.003-04:00

12 trades total
7 losers
5 winners
0.41 win/loss ratio

Very impatient this week. On the heels of 2 mediocre weeks, I was anxious to make something and forced many trades. Took a few counter trend trades as well. A very undisciplined week. My short bias for the general market hangs over me like a bad BO. Key areas I need to improve:

Be selective - many stocks might be running, but if you don't see your setups DON'T TRADE.
Don't hesitate - When you do see your setups, take it. Don't second guess.
Exit according to rules - Don't over complicate the exit. Don't try to exit at the top.
And of course-
No tops and bottoms picking.

					(0.69)		(2.49)
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	AVY	34.35	34.22	34.1	(0.13)	0.25	(0.52)	914
short	POT	88.06	88.55	88.55	(0.49)	0.49	(1.00)	914
long	POT	88.6	88.19	88.2	(0.41)	0.40	(1.03)	914
long	SLXP	20.34	19.95	19.99	(0.39)	0.35	(1.11)	914
long	UA	28.21	28.35	27.85	0.14	0.36	0.39	914
short	ZOOM	13.26	13.57	13.9	(0.31)	0.64	(0.48)	914
long	APC	63.96	64.27	63.5	0.31	0.46	0.67	916
short	AGCO	28.42	28.7	28.7	(0.28)	0.28	(1.00)	916
short	LNCR	29.54	29.74	29.9	(0.20)	0.36	(0.56)	916
short	STEC	32.3	32.15	32.8	0.15	0.50	0.30	917
short	STEC	33.15	32.2	33.65	0.95	0.50	1.90	917
short	FUQI	28.28	28.31	28.85	(0.03)	0.57	(0.05)	918

+1.1 points, +2.20 R, Grade B

2009-09-17T19:57:00.003-04:00

Had 2 profitable short in STEC.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	STEC	32.3	32.15	32.8	0.15	0.50	0.30	917
short	STEC	33.15	32.2	33.65	0.95	0.50	1.90	917

-0.17 points, -0.88 R, Grade D

2009-09-16T22:03:00.002-04:00

I'm on tilt. Passing up on good setups and taking bad ones.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	APC	63.96	64.27	63.5	0.31	0.46	0.67	916
short	AGCO	28.42	28.7	28.7	(0.28)	0.28	(1.00)	916
short	LNCR	29.54	29.74	29.9	(0.20)	0.36	(0.56)	916

-1.59 points, -3.75 R, Grade D

2009-09-14T17:48:00.001-04:00

Forced too many trades when the setup's not completely formed.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	AVY	34.35	34.22	34.1	(0.13)	0.25	(0.52)	914
short	POT	88.06	88.55	88.55	(0.49)	0.49	(1.00)	914
long	POT	88.6	88.19	88.2	(0.41)	0.40	(1.03)	914
long	SLXP	20.34	19.95	19.99	(0.39)	0.35	(1.11)	914
long	UA	28.21	28.35	27.85	0.14	0.36	0.39	914
short	ZOOM	13.26	13.57	13.9	(0.31)	0.64	(0.48)	914

Interesting

2009-09-12T00:39:00.001-04:00

The Dow closed Friday 9/11, 2009 at 9605, same as 9/11 2001.

http://bigcharts.marketwatch.com/historical/default.asp?detect=1&symbol=dji&close_date=9%2F11%2F2001&x=49&y=19

Week 9 Review (+0.26 point, +1.2 R)

2009-09-11T16:27:00.003-04:00

2 scratched trades on Friday. I haven't had any big trades in the last 2 weeks. Hopefully things will start to pick up.

18 trades
11 wins
7 losses
0.61 win/loss ratio

					0.26		1.20
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	HOG	24.85	24.52	24.5	(0.33)	0.35	(0.94)	908
short	SPPI	7.33	7.1	7.7	0.23	0.37	0.62	908
long	PACR	4.01	3.96	3.85	(0.05)	0.16	(0.31)	908
long	CAG	21.74	21.7	21.45	(0.04)	0.29	(0.14)	908
short	AIG	36.03	36.47	36.46	(0.44)	0.43	(1.02)	908
long	RIG	79.76	79.97	79.37	0.21	0.39	0.54	908
long	SNDK	19.12	19.47	18.85	0.35	0.27	1.30	909
long	ABX	37.7	37.76	37.4	0.06	0.3	0.20	909
short	ABX	37.24	37.46	37.55	(0.22)	0.31	(0.71)	909
long	STEC	42.12	41.9	41.87	(0.22)	0.25	(0.88)	909
long	AIG	39.54	39.7	39.2	0.16	0.34	0.47	909
long	MON	78.94	79.16	78.45	0.22	0.49	0.45	910
long	UAUA	7.7	7.78	7.45	0.08	0.25	0.32	910
long	DAL	8.08	8.175	7.85	0.10	0.23	0.41	910
long	SWKS	14.21	14.36	13.9	0.15	0.31	0.48	910
long	PG	55.83	55.9	55.55	0.07	0.28	0.25	910
long	AVNR	2.16	2.2	2.08	0.04	0.08	0.50	911
long	CNQR	39.84	39.74	39.54	(0.10)	0.3	(0.33)	911

+0.61 points, +1.92 R, Grade B

2009-09-10T21:52:00.002-04:00

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	MON	78.94	79.16	78.45	0.22	0.49	0.45	910
long	UAUA	7.7	7.78	7.45	0.08	0.25	0.32	910
long	DAL	8.08	8.175	7.85	0.10	0.23	0.41	910
long	SWKS	14.21	14.36	13.9	0.15	0.31	0.48	910
long	PG	55.83	55.9	55.55	0.07	0.28	0.25	910

+0.13 points, +0.38 R, Grade C

2009-09-09T16:09:00.002-04:00

I find the last few trading sessions incredibly slow. There were a couple of missed opportunities but overall the setups were just not there.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	SNDK	19.12	19.47	18.85	0.35	0.27	1.30	909
long	ABX	37.7	37.76	37.4	0.06	0.30	0.20	909
short	ABX	37.24	37.46	37.55	(0.22)	0.31	(0.71)	909
long	STEC	42.12	41.9	41.87	(0.22)	0.25	(0.88)	909
long	AIG	39.54	39.7	39.2	0.16	0.34	0.47	909

-0.42 points, -1.26 R, Grade C

2009-09-08T15:57:00.001-04:00

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	HOG	24.85	24.52	24.5	(0.33)	0.35	(0.94)	908
short	SPPI	7.33	7.1	7.7	0.23	0.37	0.62	908
long	PACR	4.01	3.96	3.85	(0.05)	0.16	(0.31)	908
long	CAG	21.74	21.7	21.45	(0.04)	0.29	(0.14)	908
short	AIG	36.03	36.47	36.46	(0.44)	0.43	(1.02)	908
long	RIG	79.76	79.97	79.37	0.21	0.39	0.54	908

Week 8 Review (+1.45 points, +1.63 R)

2009-09-04T17:18:00.003-04:00

20 trades
10 wins
10 losses
0.50 win/loss ratio

Again, too fearful of losing profits made me got out winning trades too early. This needs to be corrected.

						1.45		1.63
			Enter	Exit	Stop	P/L points	Initial risk	R	Date
450	short	RIMM	72.2	72.36	72.6	(0.16)	0.40	(0.40)	831
400	short	POT	88.22	88.18	88.7	0.04	0.48	0.08	831
400	short	FCX	63.19	63.21	63.63	(0.02)	0.44	(0.05)	831
300	short	AIG	46.25	46.15	46.6	0.10	0.35	0.29	831
600	short	RMBS	16.76	16.5	17.05	0.26	0.29	0.90	901
600	short	HCN	40.65	40.63	41	0.02	0.35	0.06	901
300	short	AIG	38.6	38.84	39.3	(0.24)	0.70	(0.34)	901
400	short	AIG	37.52	36.9	38.1	0.62	0.58	1.07	901
400	long	PAY	13.63	13.64	13.34	0.01	0.29	0.03	902
200	long	AIG	37.49	37.8	36.6	0.31	0.89	0.35	902
300	long	AIG	38.28	39.14	37.5	0.86	0.78	1.10	902
900	long	IAG	13.09	13.06	12.9	(0.03)	0.19	(0.16)	903
900	long	MTL	12.5	12.49	12.26	(0.01)	0.24	(0.04)	903
900	long	IAG	13.13	13.18	12.92	0.05	0.21	0.24	903
600	long	COST	54.71	54.9	54.38	0.19	0.33	0.58	903
700	long	IVZ	21.71	21.55	21.5	(0.16)	0.21	(0.76)	904
700	long	MTXX	6.18	6.13	6	(0.05)	0.18	(0.28)	904
400	short	AIG	40.05	40.05	40.6	0.00	0.55	0.00	904
600	short	AIG	39.95	40.07	40.2	(0.12)	0.25	(0.48)	904
600	short	AIG	39.8	40.02	40.2	(0.22)	0.40	(0.55)	904

-0.55 points, -2.07 R, Grade D

2009-09-04T17:13:00.002-04:00

Bad day to start a 3 day weekend. I came in the morning not really focused, thinking about taking it easy. After the market ran I looked around for laggers trying to scalp a few bucks and this is the result.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	IVZ	21.71	21.55	21.5	(0.16)	0.21	(0.76)	904
long	MTXX	6.18	6.13	6	(0.05)	0.18	(0.28)	904
short	AIG	40.05	40.05	40.6	0.00	0.55	0.00	904
short	AIG	39.95	40.07	40.2	(0.12)	0.25	(0.48)	904
short	AIG	39.8	40.02	40.2	(0.22)	0.40	(0.55)	904

+0.2 points, +0.61 R, Grade C

2009-09-03T16:15:00.001-04:00

		Enter	Exit	Stop	P/L points	Initial risk	R
long	IAG	13.09	13.06	12.9	(0.03)	0.19	(0.16)
long	MTL	12.5	12.49	12.26	(0.01)	0.24	(0.04)
long	IAG	13.13	13.18	12.92	0.05	0.21	0.24
long	COST	54.71	54.9	54.38	0.19	0.33	0.58

+1.18 points, +1.48 R, Grade C

2009-09-02T15:10:00.004-04:00

Gave up on the PAY trade too early. Passed on MDZ as well. Need to have more confidence in my methods.

PAY long

MDZ missed

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	PAY	13.63	13.64	13.34	0.01	0.29	0.03	902
long	AIG	37.49	37.8	36.6	0.31	0.89	0.35	902
long	AIG	38.28	39.14	37.5	0.86	0.78	1.10	902

+0.66 points, +1.68 R, Grade C

2009-09-01T15:58:00.002-04:00

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	RMBS	16.76	16.5	17.05	0.26	0.29	0.90	901
short	HCN	40.65	40.63	41	0.02	0.35	0.06	901
short	AIG	38.6	38.84	39.3	(0.24)	0.70	(0.34)	901
short	AIG	37.52	36.9	38.1	0.62	0.58	1.07	901

-0.04 points, -0.08 R, Grade C

2009-08-31T15:47:00.002-04:00

Not much went on today. Such a let down after the Asia drop.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	RIMM	72.2	72.36	72.6	(0.16)	0.40	(0.40)	831
short	POT	88.22	88.18	88.7	0.04	0.48	0.08	831
short	FCX	63.19	63.21	63.63	(0.02)	0.44	(0.05)	831
short	AIG	46.25	46.15	46.6	0.10	0.35	0.29	831

Week 7 Review (+1.25 points, +5.68 R)

2009-08-28T15:46:00.005-04:00

24 trades
11 wins
13 losses
0.45 win/loss ratio

Missed many big trades this week in AIG. Always getting out too early. I wasn't prepared for the big moves. Really need to work on sticking to the rules for getting out of winners.

					1.25		5.68
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	AIG	34.01	34.10	34.25	(0.09)	0.24	(0.38)	824
long	HGSI	17.23	17.18	17	(0.05)	0.23	(0.22)	824
long	WNR	6.5	6.50	6.37	0.00	0.13	0.00	824
short	RIMM	75.88	75.85	76.14	0.03	0.26	0.12	824
short	AIG	34	33.83	34.25	0.17	0.25	0.68	824
long	AIG	34.46	34.72	34.21	0.26	0.25	1.04	824
long	WSM	17.77	17.30	17.31	(0.47)	0.46	(1.02)	826
short	AIG	33.35	33.56	33.72	(0.21)	0.37	(0.57)	826
short	CM	58.58	58.76	59	(0.18)	0.42	(0.43)	826
long	MHP	32.13	32.12	31.9	(0.01)	0.23	(0.04)	826
long	AIG	34.92	35.09	34.5	0.17	0.42	0.40	826
long	AIG	41.45	41.20	41	(0.25)	0.45	(0.56)	827
short	SIGM	14.44	14.58	14.72	(0.14)	0.28	(0.50)	827
short	HGSI	18.81	18.94	19.18	(0.13)	0.37	(0.35)	827
short	DTG	21.98	22.07	23.12	(0.09)	1.14	(0.08)	827
long	CHB	0.572	0.66	0.47	0.08	0.102	0.81	827
short	SIGM	14.87	14.49	15.2	0.38	0.33	1.15	827
long	PCP	93.92	94.42	93.7	0.50	0.22	2.27	827
long	AIG	41.31	42.07	41	0.76	0.31	2.45	827
long	AIG	53.89	53.40	53.46	(0.49)	0.43	(1.14)	828
short	MON	82.73	82.85	83	(0.12)	0.27	(0.44)	828
short	MON	82.72	82.83	83	(0.11)	0.28	(0.39)	828
short	AIG	53.01	52.50	53.5	0.51	0.49	1.04	828
short	AIG	53.2	52.47	53.6	0.73	0.4	1.83	828

+0.52 points, +0.89R, Grade C

2009-08-28T15:40:00.001-04:00

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	MON	82.73	82.85	83	-0.12	0.27	-0.44	828
short	MON	82.72	82.83	83	-0.11	0.28	-0.39	828
long	AIG	53.89	53.4	53.46	-0.49	0.43	-1.14	828
short	AIG	53.2	52.47	53.6	0.73	0.4	1.83	828
short	AIG	53.01	52.5	53.5	0.51	0.49	1.04	828

No news!

2009-08-27T18:11:00.005-04:00

For a long term investor or a macro trader, keeping up with the most current news is probably crucial. But for daytraders, it's at best useless and at worst disastrous. The market reacts instantly. By the time you figured out what that news is, the price has already reacted. And in the end it doesn't matter what you make of the news anyway, it's what the market makes of it.

The same goes for market analysis by bloggers, gurus, economists, and astrologists. Speaking from experience, the more analysis I read the more biased I become and the less money I make. You just can't have a bias if you want to be a trader. You need the ability to follow the market no matter what it does. Besides, when has the market ever made sense to anybody? It doesn't matter to your PnL. To be successful as a daytrader, the only thing you need to follow is the market. Spend your energy on figuring out what the market is telling you, go directly to the source, not some other people's interpretation of it.

It might satisfy an intellectual curiosity to come up with an explanation of why this happened and why that should happen. I certainly wanted to know the answer. That's why I scoured the web for other people's opinions and forecasts. But all that did was making me biased and stubborn. Fundamentals, economics, and P/E are totally irrelevant for intraday trading. All that matters are the price, trend and volume. If you can figure out what those 3 things are doing, you'll be rich.

+1.113 points, +5.76 R, Grade C

2009-08-27T16:09:00.004-04:00

Missed the AIG monster run again today, caught a small part of it and got out too early. I used small size on many trades today so even thought the R was good the real return was not as much.

SIGM short

AIG huge run

CLNE missed

PCP long

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	HGSI	18.81	18.94	18.18	-0.13	-0.63	0.21	827
short	DTG	21.98	22.07	23.12	-0.09	1.14	-0.08	827
short	SIGM	14.87	14.49	15.2	0.38	0.33	1.15	827
long	AIG	41.45	41.2	41	-0.25	0.45	-0.56	827
short	SIGM	14.44	14.58	14.72	-0.14	0.28	-0.50	827
long	AIG	41.31	42.07	41	0.76	0.31	2.45	827
long	CHB	0.572	0.655	0.47	0.083	0.102	0.81	827
long	PCP	93.92	94.42	93.7	0.5	0.22	2.27	827

-0.7 points, -1.66 R, Grade C

2009-08-26T16:05:00.001-04:00

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	WSM	17.77	17.3	17.31	-0.47	0.46	-1.02	826
short	AIG	33.35	33.56	33.72	-0.21	0.37	-0.57	826
short	CM	58.58	58.76	59	-0.18	0.42	-0.43	826
long	MHP	32.13	32.12	31.9	-0.01	0.23	-0.04	826
long	AIG	34.92	35.09	34.5	0.17	0.42	0.40	826

+0.32 points, +1.25 R

2009-08-24T17:27:00.002-04:00

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	AIG	34.46	34.72	34.21	0.26	0.25	1.04	824
long	WNR	6.5	6.5	6.37	0	0.13	0.00	824
short	RIMM	75.88	75.85	76.14	0.03	0.26	0.12	824
long	HGSI	17.23	17.18	17	-0.05	0.23	-0.22	824
short	AIG	34.01	34.1	34.25	-0.09	0.24	-0.38	824
short	AIG	34	33.83	34.25	0.17	0.25	0.68	824

Week 6 (+1.5 points, +5.41 R)

2009-08-21T16:45:00.002-04:00

13 trades
8 wins
5 losses
0.61 win/loss ratio

Even though the week seemed slow, there were still plenty of big opportunities. AIG, EDAP, FSLR, just to name a few. My R has a lot of room for growth.

					1.5		5.4174
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	FCX	59.4	59.78	59.8	-0.38	0.4	-0.95	817
short	AAPL	162.39	161.7	162.8	0.69	0.41	1.68	817
short	X	42.75	42.72	43.08	0.03	0.33	0.09	817
short	CAT	43.78	43.82	44.07	-0.04	0.29	-0.14	817
long	TGT	43.7	44.23	43.44	0.53	0.26	2.04	818
long	RIMM	73.21	73.3	72.8	0.09	0.41	0.22	818
long	ARIA	2.22	2.2	2.14	-0.02	0.08	-0.25	818
long	RIMM	73.42	73.57	73	0.15	0.42	0.36	818
long	CTIC	1.65	1.76	1.58	0.11	0.07	1.57	819
long	INO	2.27	2.22	2.15	-0.05	0.12	-0.42	819
long	COV	39.87	40.21	39.6	0.34	0.27	1.26	819
long	FRE	1.42	1.51	1.35	0.09	0.07	1.29	820
long	CTIC	1.71	1.67	1.68	-0.04	0.03	-1.33	821

-0.04 points, -1.33 R, Grade B

2009-08-21T16:41:00.002-04:00

one trade

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	CTIC	1.71	1.67	1.68	-0.04	0.03	-1.33	821

+0.1 points, +1.29 R, Grade C

2009-08-20T21:13:00.005-04:00

Just one trade today.

FRE long

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	FRE	1.42	1.51	1.35	0.09	0.07	1.29	820

+0.4 points, +2.41 R, Grade B

2009-08-19T16:01:00.003-04:00

Days of piker, I'm churning small Rs while missing a nice run in AIG and a HUGE run in EDAP

COV long

CTIC long

EDAP missed

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	CTIC	1.65	1.76	1.58	0.11	0.07	1.57	819
long	INO	2.27	2.22	2.15	-0.05	0.12	-0.42	819
long	COV	39.87	40.21	39.6	0.34	0.27	1.26	819

+0.75 points, +2.36 R, Grade B

2009-08-18T23:24:00.002-04:00

Missed a few good setups, namely WYNN, otherwise a good day of following rules.

TGT long

WYNN missed

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	TGT	43.7	44.23	43.44	0.53	0.26	2.04	818
long	RIMM	73.21	73.3	72.8	0.09	0.41	0.22	818
long	ARIA	2.22	2.2	2.14	-0.02	0.08	-0.25	818
long	RIMM	73.42	73.57	73	0.15	0.42	0.36	818

Daily Review (+0.3 points, +0.68 R) Grade C

2009-08-17T21:15:00.004-04:00

My focus drifted after I got out of the AAPL short. It went sideways for an hour then dropped 2 more points. I need to pay more attention!

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	FCX	59.4	59.78	59.8	-0.38	0.4	-0.95	817
short	AAPL	162.39	161.7	162.8	0.69	0.41	1.68	817
short	X	42.75	42.72	43.08	0.03	0.33	0.09	817
short	CAT	43.78	43.82	44.07	-0.04	0.29	-0.14	817

Week 5 Review (+2.15 points, +4.84 R)

2009-08-14T16:34:00.004-04:00

14 trades
6 losses
8 wins
0.57 win/loss ratio

Pretty boring week, volume is very low. I need to do a better job of finding good setups and not rush into subpar patterns just because nothing is happening.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	RIMM	74.18	73.21	74.64	0.97	0.46	2.11	810
long	FMD	2.21	2.29	2	0.08	0.21	0.38	810
short	BBL	51.41	51.75	51.87	-0.34	0.46	-0.74	810
short	AAPL	164.85	164.36	165.7	0.49	0.85	0.58	810
short	DTG	21.8	21.31	22.25	0.49	0.45	1.09	811
short	JPM	41.91	41.7	42.25	0.21	0.34	0.62	811
long	TOL	23.07	23.14	22.8	0.07	0.27	0.26	812
short	PCLN	148.73	148.82	149.5	-0.09	0.77	-0.12	812
short	GS	164.77	164.02	165.28	0.75	0.51	1.47	813
short	JPM	42.45	42.63	42.75	-0.18	0.3	-0.60	813
short	AIG	23.65	24.08	24.1	-0.43	0.45	-0.96	814
long	ADSK	25.47	25.24	25	-0.23	0.47	-0.49	814
short	BKS	20.95	20.44	21.25	0.51	0.3	1.70	814
short	JOYG	39.97	40.12	40.3	-0.15	0.33	-0.45	814

Daily Review (-0.3 points, -0.2 R) Grade C

2009-08-14T16:09:00.004-04:00

Made one decent trade in BKS and 3 rushed trades in AIG, JOYG and ADSK.

Looking back, AIG's and JOYG's morning move needed consolidation, I jumped in too early.

BKS short

JOYG short

AIG short

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	AIG	23.65	24.08	24.1	-0.43	0.45	-0.96	814
long	ADSK	25.47	25.24	25	-0.23	0.47	-0.49	814
short	BKS	20.95	20.44	21.25	0.51	0.3	1.70	814
short	JOYG	39.97	40.12	40.3	-0.15	0.33	-0.45	814

Daily Review ( +0.57 points, +0.87 R) Grade C

2009-08-13T16:41:00.004-04:00

Just like the JPM short the other day, I had a pretty decent profit in GS this morning, +2 pts, 4 R. I got out 1/3 rd at the bottom, then some more to leave 1/2 position behind, and it promptly ran all the way back and stopped me out. No complaints here, things like this happen. My mistake is that I made a short in JPM in sympathy with the weakness in GS. On it's own, JPM gave no setup for shorting. I have to stop thinking macro and focus on now.

GS short

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	GS	164.77	164.02	165.28	0.75	0.51	1.47	813
short	JPM	42.45	42.63	42.75	-0.18	0.3	-0.60	813

Daily Review (-0.02 points, +0.14 R) Grade C

2009-08-12T21:08:00.003-04:00

Didn't catch any good setup today. TOL's entry was okay but it ran out of steam before reaching adequate profit target and I bailed before it turned into a loss.It would've turned out better if I just let the original stop work.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	TOL	23.07	23.14	22.8	0.07	0.27	0.26	812
short	PCLN	148.73	148.82	149.5	-0.09	0.77	-0.12	812

Daily Review (+0.7 points, +1.7 R) Grade B

2009-08-11T15:42:00.003-04:00

I had a point gain or close to 3 R in JPM early in the day, but I was feeling lucky thinking this is the top for the financials so I didn't try to get out. I was hoping for a swing trade. Ended up only making 20 cents on it. Guess I'm just not a swinger :-)
I'll stick to daytrading for now.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	DTG	21.8	21.31	22.25	0.49	0.45	1.09	811
short	JPM	41.91	41.7	42.25	0.21	0.34	0.62	811

Daily Review (+1.2 points, +2.327 R)

2009-08-10T18:50:00.004-04:00

Browsing around the blogs, it seems like everybody shorted RIMM at the same spot today, lol.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	RIMM	74.18	73.21	74.64	0.97	0.46	2.11	810
long	FMD	2.21	2.29	2	0.08	0.21	0.38	810
short	BBL	51.41	51.75	51.87	-0.34	0.46	-0.74	810
short	AAPL	164.85	164.36	165.7	0.49	0.85	0.58	810

Week 4 Review (-1.05 points, -0.745 R)

2009-08-09T07:18:00.003-04:00

No trades on Friday
25 trades
10 wins
15 losses
0.4 win/loss ratio

					-1.055		-0.745
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	CLX	58.73	59.01	59.4	-0.28	0.67	-0.42	803
short	ORLY	39.58	39.62	39.9	-0.04	0.32	-0.12	803
long	AGU	48.93	49.11	48.62	0.18	0.31	0.58	803
long	LVS	10.76	10.77	10.5	0.01	0.26	0.04	803
short	FCN	51.44	52.01	52.01	-0.57	0.57	-1.00	803
short	CTX	10.52	10.6	10.67	-0.08	0.15	-0.53	803
short	PPL	30.23	30.01	30.58	0.22	0.35	0.63	803
long	WMGI	15.01	14.9	14.77	-0.11	0.24	-0.46	803
short	PRU	44.85	45.22	45.21	-0.37	0.36	-1.03	803
long	BPOP	1.35	1.4	1.25	0.05	0.1	0.50	803
short	ONXX	31.53	31.2	32	0.33	0.47	0.70	805
short	TKLC	16.92	16.88	17.27	0.04	0.35	0.11	805
short	VCLK	10.07	9.95	10.25	0.12	0.18	0.67	805
long	CIT	1.27	1.17	1.42	-0.1	-0.15	0.67	805
short	AMZN	84.24	84.64	84.61	-0.4	0.37	-1.08	805
short	AMZN	84.23	84.55	84.71	-0.32	0.48	-0.67	805
short	AIG	18.94	19.51	19.51	-0.57	0.57	-1.00	805
short	AIG	19.55	19.75	19.75	-0.2	0.2	-1.00	805
short	AIG	21.36	21.86	21.86	-0.5	0.5	-1.00	805
short	STEC	31.02	29.65	31.51	1.37	0.49	2.80	806
short	DCP	17.85	17.575	18.15	0.275	0.3	0.92	806
short	LEAP	19.76	19.92	20	-0.16	0.24	-0.67	806
short	LEAP	19.77	19.43	20	0.34	0.23	1.48	806
short	BKE	26.57	26.61	26.9	-0.04	0.33	-0.12	806
short	BHI	37.37	37.62	37.71	-0.25	0.34	-0.74	806

Daily Review (+1.535 points, + 3.66R) Grade C

2009-08-06T19:42:00.004-04:00

STEC gave me the majority of my gains today. Could've done a better job sticking to the rules with DCP, LEAP and BKE.

BHI was a not a good short candidate. The retrace from the bottom was more than 50%. For stocks with this kind of strong bounce, either wait till a more severe move develops or just ignore all together and focus on stocks that are near or already took out the morning range.

STEC short

DCP short

BHI short

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	STEC	31.02	29.65	31.51	1.37	0.49	2.80	806
short	DCP	17.85	17.575	18.15	0.275	0.3	0.92	806
short	LEAP	19.76	19.92	20	-0.16	0.24	-0.67	806
short	LEAP	19.77	19.43	20	0.34	0.23	1.48	806
short	BKE	26.57	26.61	26.9	-0.04	0.33	-0.12	806
short	BHI	37.37	37.62	37.71	-0.25	0.34	-0.74	806

Daily Review (-1.6 points, -2.598 R) Grade F

2009-08-05T18:34:00.003-04:00

Today is the first day since I started posting live that I violated the most important rule I had for myself, trading against the trend. Things were going okay till AIG popped up on my radar. I resisted the urge to short at 16, then at 18, but when it retraced from the high of 19.42 rather quickly, I thought it was an opportunity for some quick profits. That's how all of my old trading disasters started out. Blinded by seemingly easy profits, I throw my rules out the window. I shorted it, got stopped out, shorted it again, stopped out again. I'm very disappointed at my relapse today.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	ONXX	31.53	31.2	32	0.33	0.47	0.70	805
short	TKLC	16.92	16.88	17.27	0.04	0.35	0.11	805
short	VCLK	10.07	9.95	10.25	0.12	0.18	0.67	805
long	CIT	1.27	1.17	1.42	-0.1	-0.15	0.67	805
short	AMZN	84.24	84.64	84.61	-0.4	0.37	-1.08	805
short	AMZN	84.23	84.55	84.71	-0.32	0.48	-0.67	805
short	AIG	18.94	19.51	19.51	-0.57	0.57	-1.00	805
short	AIG	19.55	19.75	19.75	-0.2	0.2	-1.00	805
short	AIG	21.36	21.86	21.86	-0.5	0.5	-1.00	805

Daily Review (-0.85 points, -1.85 R) Grade D

2009-08-04T20:00:00.006-04:00

My bearish bias got the best of me today. Sold longs too early and took on way too many shorts. Plenty of my shorts were profitable at first. FCN gave me 20 cents, PRU gave me 30 cents before all violently reversed higher and stopped me out.

PRU short

PPL short

LVS long

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	LVS	10.76	10.77	10.5	0.01	0.26	0.04	804
short	FCN	51.44	52.01	52.01	-0.57	0.57	-1.00	804
short	CTX	10.52	10.6	10.67	-0.08	0.15	-0.53	804
short	PPL	30.23	30.01	30.58	0.22	0.35	0.63	804
long	WMGI	15.01	14.9	14.77	-0.11	0.24	-0.46	804
short	PRU	44.85	45.22	45.21	-0.37	0.36	-1.03	804
long	BPOP	1.35	1.4	1.25	0.05	0.1	0.50	804

Blow off top

2009-08-04T12:15:00.002-04:00

This market has the smell of a blow off top coming. We're probably gonna need a 300 point up day to mark the top.

Daily Review (-0.14 points, -0.037 R) Grade C

2009-08-03T16:07:00.003-04:00

Strange day, couldn't really find many setups.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	CLX	58.73	59.01	59.4	-0.28	0.67	-0.42	803
short	ORLY	39.58	39.62	39.9	-0.04	0.32	-0.12	803
long	AGU	48.93	49.11	48.62	0.18	0.31	0.58	803

Week 3 Review (+3.28 points, +11 R)

2009-07-31T16:09:00.003-04:00

25 trades total
9 losers
16 winners
0.64 win/loss ratio

					3.28		11.011
		Enter	Exit	Stop	P/L points	Initial risk	R	Date
short	AMZN	84.58	83.95	85	0.63	0.42	1.50	727
short	MYL	12.08	12.23	12.34	-0.15	0.26	-0.58	727
short	AAPL	158.91	159.44	159.41	-0.53	0.5	-1.06	727
long	CSR	9.37	9.67	9.06	0.3	0.31	0.97	728
short	AXE	32.75	32.85	33.15	-0.1	0.4	-0.25	728
long	MAS	13.14	13.11	12.93	-0.03	0.21	-0.14	728
long	CVH	22.14	22.59	21.8	0.45	0.34	1.32	728
long	LAZ	33.67	33.79	33.3	0.12	0.37	0.32	729
short	FCX	55.44	54.785	55.9	0.655	0.46	1.42	729
short	COP	43.18	42.73	43.45	0.45	0.27	1.67	729
short	TSL	28.34	27.96	28.7	0.38	0.36	1.06	729
long	FIS	23.19	23	23	-0.19	0.19	-1.00	729
long	LAZ	33.82	34.33	33.5	0.51	0.32	1.59	729
long	MV	30.45	30.575	30.19	0.125	0.26	0.48	729
long	FIS	23.25	23.35	23	0.1	0.25	0.40	729
long	CVD	53.53	52.94	53	-0.59	0.53	-1.11	730
long	V	68.5	68.41	68.3	-0.09	0.2	-0.45	730
long	CVD	53.1	53	52.99	-0.1	0.11	-0.91	730
long	V	68.46	68.8	68.3	0.34	0.16	2.13	730
long	EXPE	20.64	20.93	20.3	0.29	0.34	0.85	730
long	V	68.92	69.09	68.7	0.17	0.22	0.77	730
long	FUQI	23.91	24.18	23.59	0.27	0.32	0.84	731
short	LVS	9.46	9.2	9.68	0.26	0.22	1.18	731
long	ANDS	3.31	3.26	3	-0.05	0.31	-0.16	731
long	LHCG	29.37	29.43	29	0.06	0.37	0.16	731

Daily Review (+0.54 points, +2.02 R) Grade C

2009-07-31T16:05:00.000-04:00

LVS short trade

LVS gapped down and never exhibited any strength. Shorted it when it broke through the morning low at 9.46, covered when it bounced off the 1.618 fib line.

FUQI long trade

FUQI had a strong first bar, I bought it after it broke through the 4th bar high, price popped too quick for my taste and I sold it at 24.18.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	FUQI	23.91	24.18	23.59	0.27	0.32	0.84	731
short	LVS	9.46	9.2	9.68	0.26	0.22	1.18	731
long	ANDS	3.31	3.26	3	-0.05	0.31	-0.16	731
long	LHCG	29.37	29.43	29	0.06	0.37	0.16	731

Daily Review (+0.02 points, +1.27 R) Grade D

2009-07-30T15:28:00.004-04:00

Up 1 R but too many mistakes.

		Enter	Exit	Stop	P/L points	Initial risk	R
long	CVD	53.53	52.94	53	-0.59	0.53	-1.11
long	V	68.5	68.41	68.3	-0.09	0.2	-0.45
long	CVD	53.1	53	52.99	-0.1	0.11	-0.91
long	V	68.46	68.8	68.3	0.34	0.16	2.13
long	EXPE	20.64	20.93	20.3	0.29	0.34	0.85
long	V	68.92	69.09	68.7	0.17	0.22	0.77

Daily Review (+2.15 points, +5.94 R) Grade B

2009-07-29T16:09:00.003-04:00

A bunch of trades today, couple of impulse exits hence the grade B.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	LAZ	33.67	33.79	33.3	0.12	0.37	0.32	729
short	FCX	55.44	54.785	55.9	0.655	0.46	1.42	729
short	COP	43.18	42.73	43.45	0.45	0.27	1.67	729
short	TSL	28.34	27.96	28.7	0.38	0.36	1.06	729
long	FIS	23.19	23	23	-0.19	0.19	-1.00	729
long	LAZ	33.82	34.33	33.5	0.51	0.32	1.59	729
long	MV	30.45	30.575	30.19	0.125	0.26	0.48	729
long	FIS	23.25	23.35	23	0.1	0.25	0.40	729

Don't move your initial stop on impulse

2009-07-29T14:23:00.003-04:00

Before you're in a trade, you have no money on the line. You are calm and clear headed. You have time on your side and that initial stop price is the result of logical thinking. But after you're in the trade and the prices are coming at you fast and furious, your PNL is jumping up and down with every tick, your heart starts to pound and all kinds of thoughts go through your head. What if the price drops through my stop? What if my analysis is wrong? What if I don't know what I'm doing? Self doubt creeps in, especially if the stock is not behaving as you thought it would. You go and move your stop up or down trying to adjust to the market on the fly. DON'T!

Do you really think your analysis made under pressure is going to be better than that which was made under much calmer circumstances?

Before you enter a trade, you fully accepted the possibility of being wrong. If you didn't, then you shouldn't be in that trade. Trust yourself and let your stops work. Don't move your initial stops unless the price has moved significantly in your favor or an extended period of time has passed and invalidated your reason for entering.

Daily Review (+0.62 point, +1.89 R) Grade A

2009-07-28T21:55:00.008-04:00

I left early today to go see the Daily Show with Joh Stewart live. I always expected celebrities to look different in person than on TV, but he looked exactly the same. The show was great but short. They had Spinal Tap as musical guests, so the last half of the show was all songs. Not that I didn't like it, but I wished it was a regular show with more Joh Stewart in it. But If you live in NYC, you definitely should go check out this one of the most influential shows in America.

I had 2 open positions when I left. Long CVH and Short AXE. AXE got stopped out for a 10 cent loss, and CVH was sold with a MOC order at 22.59 for a 45 cent gain.

4 trades today, 2 winners, 2 losers.

		Enter	Exit	Stop	P/L points	Initial risk	R	Date
long	CSR	9.37	9.67	9.06	0.3	0.31	0.97	728
short	AXE	32.75	32.85	33.15	-0.1	0.4	-0.25	728
long	MAS	13.14	13.11	12.93	-0.03	0.21	-0.14	728
long	CVH	22.14	22.59	21.8	0.45	0.34	1.32	728