Wednesday, April 1, 2009

april fool's day

sadly, i could think of no tom sapped all my creative juices.

market/IBM opened down. i should have sold instantly, but thinking of my GS sell from yesterday i hesitated and IBM ran up 1.5 in like 3 min's. i was totally bummed out...thinking should i sell for a loss. partly, new people in my office were to blame. but, then luckily, IBM dived back down to the open prices and this time i did not hesitate. got out of 20 at the lows of the day. phew and good trading.

rest of the day, i watched the rally. it looked strong...would there be a selloff. i was tempted by GS, but thankfully resisted. i decided to rework my IBM short. i am already comfortable with the price action on it for now. i shorted around 97.5 my old levels around 2:30pm, so not so bad...i was hoping for a correction starting around 3pm. there was one, but not big enough and i decided to hold overnight.

i am over 25K now, but i want to build a base before i agressively day trade. anyway with all these people in my room, i can barely think, much less concentrate for something as risky as lightning fast day trading. sigh. it's like i am working two jobs. i don't mind the tech aspects of my job, but hiding my screen from people and having to listen to their inane office politics posturing gets on my nerves. oh well, for now i have to deal with it.

market is still fragile, but we could be in for a very sharp rally. i will probably collapse my current IBM short early tomorrow morning. Fri. is unemployment numbers, but they shrugged off ADP today, so you never know.

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