May 12, 2008

Net: -$232
LFT: -$310
Trades: 9
Shares: 4800
Stop: $150
Frame of Mind: Under a little bit of pressure to perform because of previous day’s gain. Had my eye operation today.

Was suppose to start my trade with UPS, but it posted my bid and it flew fast to 70.50. I was a frustrated I wasn’t able to catch that wave.

So I diverted my attention to XOM, where I lost $135 some anticipting the low would hold. I thought It would go on above the pivot when it broke through but there was resistance.

Down $100, I traded UPS again, buying it at 70.15 only 300sh. which I thought was a good deal. It didn’t push thru any higher and I should have taken that one out at the high, but I wasn’t satisfied with a flat day.

Saw a what looks like a doji on MBI, but it retested the high.

What I did right:

Identified the UPS right, but didn’t really anticipate it to range.

What I did wrong:

Exceeded my stop loss by $80.


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