Thursday, December 06, 2007

Dec 6 $330 on 38c and 3300 shares




Well today's review can be summed up in 2 words- Missed Trade.
I didn't take a lot of signals today, due to getting chopped up trading the dull drums. I didn't take advantage of the afternoon rally because I was trying to manage a small short position in C (bad trade), and having that one stock position tied up my focus on what the indices and the whole market was doing as a whole, and as a result, I missed the boat to the bull rally. NYSE A/D was above 2 all day, clearly a day to look for long signals. This should be the #1 factor in deciding your stock trading setups, and I myself messed up by not going long. About the time I made the post about CROX tanking,,the stock reversed and rallied $3.00 into the close. I missed the boat on that stock even though I got a buy setup. The market rallying 2 days in a row like this isn't what I was expecting today. I thought traders would have already factored in "the NEWS". There are some huge short coverings taking place in home builders today and mortgage related stocks.

Net P/L= $320 on 38c and 3300 shares (crappy profit to contract ration)

3 comments:

Anything-Goes on 11:30 PM said...
This comment has been removed by the author.
Anything-Goes on 11:33 PM said...

what is your target profit/loss?

HPT on 11:58 PM said...

Goal is min $200, upper goal $500-1000. Max loss is no more then $700.

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