May 2, 2008

Net: $315
DD: 0
LFT: 0
Trades: 27
Shares: 3800
Frame of Mind: Feeling a bit hot, sickly. Bulls running raging through wall st.

Saw RIO upon open, pre-market high was 40.20. I immediatly shorted 400sh 39.87, to cut at 40.20.

It went down to as low as .68, but I didn’t take any, then pulled back up to .89, where I added another 200sh, because I thought this was a very good bargain pullback! My heart sank when it went to .96.

Sellers came in at .96 and it dropped to the low .40s from there.

Out of the 600sh, I took 100sh at .70, 200sh at .56 (5EMA21) holding on to 200sh for the gap fill.

However my gap fill dreams were shattered when I saw a doji forming on the 5min. I focused now on maximizing my short and gong long.

Started going long around .58-.60 for 300sh, then it dropped to the low .30s where I was already saying to myself that this might have been a very bad idea. I held on to my conviction, anyway I would still be up if it hits 39.00, the gap fill was at 38.70 something.

Sold my longs at .68, .81. Then scalped some more to make it to $315.


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