February 21, 2008

Net: $70
LFT: $4
DD: $40
Trades: 123
Shares: 16600

Had a bad start, was under $40 during the morning because of bad trades in JCP and ABB.

jcp-022108.png

Shorted JCP  at 49.32, still went up to make new highs, fortunately I cut it early at 49.72. Unfortunately, it reversed course after hitting 50.55, I didn’t short it. As you can see, it filled the gap eventually. Heartbreaker.

A good thing that I caught MO and rode it to a $40 gain which wiped out all my losses for the day.

Not much fading opportunities today, I had to struggle my way to $50.

February 20, 2008

Net: $151
LFT: 0
DD: 0
Trades: 76
Shares: 8400
Volatility: Very Low

I’m not sure what it was but I felt good for the day, slowly building my PnL from 0 to 50, to 100, to 150. The first $50 was the hardest as I didn’t want to risk being red for the day. I just focused on the right trades, with the right exposure and conservative trading. The fading strategy worked.

XOM was the best trade of the day, could have easily been the best trade of the month had I not taken it too early. Went long 81.74 then added another half at 81.80 when it reached 81.90. All the oil stocks were inching up along 1EMA8. It eventually reversed before the close.

xom-022008.png

February 19, 2008

Net: $51
LFT: $10
DD: -$40
Trades: 53
Shares: 5800

My confidence is at the lows after a string of losses the past week. Will try to keep my head up and dance with this market.

Shorted WFC right away after it broke the opening low around 30.50, never went against me that trade, however I took the first half early, then rode the other half some more to the 1EMA21. Netted $44 on that one.

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Shitty Fade on JPM that nearly bankrupt me. Started catching the falling broker around 43.20, fell to 43.80’s and I was maxed out at that point, my timer came up.

jpm-021908.png

February 14, 2008

Net: -$205
Trades: 5

Bloody valentines.
cy-021408.png

Shorted CY $24.10,  it ranged a bit from 24.10 to 24.20, then went down to it’s low of 24.93. I was taking my gains starting at 24.92, when it suddenly popped up, straight to 24.50. I hesitated, hesitated to take my profits until profits became breakeven, then became losses. Next thing I see I’m down $200 when it reached the top at 24.50.