Thursday, April 17, 2008

excellent day

okay i exaggerated yesterday, i guess my positions were not so bad. but i really thought what with RS and NUE reporting earnings, i was in trouble. they are steel manufacturers so i was expecting blowout numbers. well, they did report great numbers, but for some reason, initially in the morning they were beaten down. maybe because of the US steel downgrade, or their forecast was not that good. all i know is i was up early and as soon as the bell rang, i sold all of RS and it was an insane sell, basically within 5 minutes, RS went from 60.5 to 62 and i sold at 61, a level it never even came close to for the rest of the day. I wonder what idiot bought my puts, he was probably cursing himself for the rest of the day. hahaha.
as usual i got excited at the sight of all the profits and sold both MON and BNI early. mon i didn't regret, that's a dicey stock, but i could have done better on BNI. i left more than 4K profit on MON and 700 on BNI. Bni i should have had, but whatever, sometimes the market moves so fast, you have no idea what's gonna happen. plus i didn't think earnings were that bad, i thought the day would be on the upside.
i had some repair people over to fix things, otherwise i would have gone back to bed. luckily, i saw that NUE had zoomed up too high too fast. here's what makes a good trader, i shorted it and it zoomed up even higher, now i'm down a buck or 1K, but i believed in my short and bought some more, right at the peak and at a great price $10. i did not sell at the best levels, i saw it breaking but i felt uneasy about my earlier buy, so sold that cheaply, but made good coin on my peak buy. left some on the table too.
all repairs were done and i went back to sleep. slept through closing and i didn't really miss much. all in all a good day.