Nothing wanted to get in sync today. First - no shares to short on JSDA so why look at it. Second - a great chat room was not working at DehTrader.com. Third - my IB account was having problems charting NYSE stocks properly.
I did see MBT in the pre-market and thought the 105 level would be a good place to buy fear but I did not. I saw the Steels start moving early in the session but got stopped out of AKS at even and did not have the guts to chase it. Saw RS but forget to continue watching it and missed the move. Saw HOT and had a buy stop at 67.52 for an hour before I pulled it. It would have worked later.
My biggest frustration of the day was MRK. Once the chat room was working - one of the regulars pointed out MRK and I chased it to get a starting position at 44.95. I had a buy stop to double my position at 45.02 with a stop on the old position of 44.75 and a stop on what could be the new position at 44.82 and a target of 45.28 of both. Unfortunately the trade was taking longer then I expected and I needed to meet the wife for lunch. That left me with the great debate - should I leave the orders in or pull them because I could not watch. I pulled them even with the stops being there. MRK rallied to 45.00 but not 45.01. Then dropped to 44.82 before taking off in the afternoon where the trade would have worked perfectly. Anybody who wants to an opinion - should I keep my orders in or out while being away?
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