Marketgeometry

Wednesday, May 2, 2007

Dropping the ball - 5/2/2007





I woke up this morning having a difficult time clearing the cobwebs. Look at the premarket for a while before life started interrupting my trading day. Different people needed to get a hold of me and before long I could not pay proper attention to the markets. On top of all of that, the wife needed some help buying software.
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Finally after a while, things calmed back down and I could look at the market again. Within a few minutes, I had missed 3 great trades. A stock just coming out of a pull back with a 17.80-85 bid/ask. Starting placing the order at 17.95 to insure I get shares. As I hit the entry, the bid/ask 17.88/91 then 17.93/95 and as I see my order go in 17.98/18.03 and it is off to the races. Stock runs a point and a half in the next 30 minutes. Missed it by a hair. Moments later another stock - bid/ask 30.49/30.50. Bigger seller on 30.50. Start placing the order to do a buy stop at 30.51 but notice the seller was nearly finished. Put the order in at 90 just as I see the bid/ask change to 30.50/30.51. Move to change the order and boom - the stock starts running. A couple of minutes later, I see another stock. Breakout point was at 128.15 and it seemed to have paused between 128.25 to 128.50. Put order in at 128.30. Wait for a while and do not get filled. Pull order. Stock suddenly drops toward 128.00. Look at longer chart. Support maybe good at 128.00 and place order back at 128.15 with stock trading at 128.25. As soon as my order goes in, it is off the the races with this one. At this point, I am about ready to throw my keyboard at the wall. So much frustration in so little time. It is just like feeling like the football hitting my finger tips before hitting the ground on a pass play that would have gone for a touchdown.
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I gave up with trading for the day and when back to helping my wife out.
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No numbers because no trading.
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