Tuesday, December 30, 2008

wrap up of holiday season trading

i had tried to get rid of STLD over the holiday week, but missed both my slender chances at +.4 profit, first by sleep and second by phone call.  volume was very low so it was very hard to watch the tape go nowhere.  

i woke up on Monday of New Year's week, determined to sell it and unfortunately there was a very weak rally and i thought everything would go down and so sold it for a measly +.2, but you take what you get and things did go down.

at the end of the day, i thought RIMM was oversold and bought it for an overnite, since volatility is so low these days, the danger is not so much and was able to sell it today for modest gains, didn't go up as high as i thought.  GS was the real screecher, but i didn't see any of that, i should have shorted NUE or SPY for a small profit intraday, but went with IBM, which didn't really die and i didn't sell and late in the day it went up .5 against my position.  damnation !!  but atleast now i can play it as an overnite and not a daytrade when i make my profit on it tomorrow....hopefully.

Monday, December 22, 2008

relaxed christmas monday

i woke up late and by the time i was sipping my coffee it was 12pm.  i looked at the charts and it seemed like we were going to go down some more.  i roamed around and came back and i thought the worst was over, so I bought some STLD.  it had zoomed up too fast and was getting beaten up bad too,...down 12%.  but christmas week, so everything was low volume.  i like it's prospects at this price level, but will keep a hawk eye on it.

Thursday, December 18, 2008

i'm back

back like the energizer bunny...no longer a daytrader since i'm under 25K, but got my account reset and back to trading....watched last 2 days and pounced today.

i should not have played AAPL...IBM or MON was the way to go, but i'm still a little out of touch with the whole thing and i dipped in at 90 this morning.  i went to Murky coffee shop after that and spent the afternoon agonizing over my call.  flip side was i watched the tape like a hawk and am getting back in the rhythm of that.  luckily towards the end of the day, AAPL cracked and i must say i sold it at the very bottom of the bounce down.  it was a master sell.

closed my AAPL short, bought at 90 at 88.8, very nice timing on the down, but the volatility....sheesh....

i wanted to go long SPY at close (actually the mad dip at 3:30pm, but i thought maybe it will go lower and then it went up and i was trading options on it and the spread the last 2 minutes was crazy (new to options on SPY) so i let it go......

in general, i don't like overnite's....too many variables for a little fish like me...the mad dip intraday play was the right one for me, but i missed it. live and learn.

and stop banging on beanie for not posting....his advice is a luxury :)