May 16, 2008

Net: -$68
LFT: $80
Trades: 12
Shares: 1600
Stop Loss: $50
Frame of Mind: Neutral.

Trying out the reverse of my counter-trending strategy today. On the way home yesterday I was thinking what if I reversed my counter-trending strategy before. I would lose a lot of days, around $50-$100 a day, but I would blow up on the upside, making $300 or more a day.

I shorted JPM starting with 100sh, starting at 46.65, adding another 100sh at .57, adding another 200sh at .50 culminating at 400sh.

I was going to cut my position at 46.64, where the 1EMA21 was, true enough it hit it, then was slammed down to .50. I had cut at exactly the pullback high.

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