Thursday, May 01, 2008

Day after FOMC

There seems to be a common pattern for the market to reverse directions the a day or two after the FOMC announcement, and that is what happened today. I held 150s of GS overnight and sold at the open at 192 for a break even trade. GS then climbed to as high as 199 before market close. Overall, I sucked bad today. Lost around $400 due to trying to short a low volume stock called FLS that never retraced after I shorted it. I should have used that stop I had originally planned, but I expected a pullback that never happened, also I lost my connection to IB which really pissed me off as I knew FLS was fucking me in the ass while I attempted to regain my connection.

Right about the time I took a snapshot of my monitor my connection to IB got disconnected and lasted for 45min, meanwhile FLS began to move against me.

Here's the stock I lost most my money on today (besides churning and losing money on ER2)


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