Thursday, January 22, 2009

eventful friday

RECAP OF FRIDAY the 16th's trading:

i woke up early and went to murky coffee house.  C and BAC had reported, but AH they were up.  i thought the results were bad for both, but who knows.  I was short GS.  GS was up by about 2 dollars from where i bought it and many times till 10 a.m. i almost sold it.  it just wouldn't break and was just swinging back and forth and my heart was in my mouth and i thought that any moment now it will break up massively.  but then around 11:00 am it broke nicely and i was able to sell.  i left over $3 on the table also, the break was quite extreme.  but, i was glad to be out of it.

i then lazed around and watched the tape, looking for opportunities to go long.  i went long SPY and took a double position...RISKY ! but i felt good and had quite a bit of profit for the week, so i thought what the hell.  good call.

i sold the SPY's when i thought the tape was going weak and went short RIMM.  bad decision, because RIMM had massive strength behind it based on the AAPL steve job's health story.  i didn't realize that completely.  market never really broke, but on other stocks i would have made a small profit...on RIMM i took a -1 loss.  could have been less, but i held till the close.  sold at 3:59:41.....phew, huh!!!  

those options expired that day and i don't know what would have happened if i hadn't sold.  probably my trading company wouldn't have given me the best prices on it's execution.

good week.  drank too much coffee.   should have gone for lunch....will work on that.  it's good to relax the mind.

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