May 6, 2008

Net: -$200
LFT: $250
Trades: 20
Shares: 5400
Frame of Mind: Came in late, coming from underwater hocky, market already filled the gap from gapping down. I looked for reversal signals everwhere.

Found HCD, NE, WFR. Went long HCD 7.68 for 200sh, shorted NE 300sh at 61.68, shorted WFR 300sh @ 66.33.

Only HCD went my way.

One particularly good trade was LEH, which could have turned to be a very good trade. Shorted 300sh at 45.80, added 300sh at 45.70 after seeing it shot back from .90. Got the half at .60, holding the other half.

Unfortunately market was trending up very strong, rally continued testing the high where I had cut. Pulled back significantly to .43 after hitting the high, .95, where I had cut.

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