Marketgeometry

Tuesday, July 17, 2007

Mother told me there would be days like this 7/17/2007


I do not even know how to explain a day like this. It was a mess. There was four Big Mouth stocks to short - WGOV, ASD, DYN and PHG. I did not like the action in PHG so it was easy to skip. DYN - I tried shorting at 8:00 am but could not get an order off. I tried hitting the bids but they would disappear. I do not understand that but I guess it is part of the game.
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So that then leaves ASD and WGOV. WGOV has up big and I thought it was pumped too much. I placed an order just above the market. InteractiveBrokers was giving me trouble with premarket charts in Nasdaq stocks today. I was not following my stocks my normal way - I had the stocks in TD instead. Should have been a warning to me. I got my first short off and was stopped at 62 minutes later. The stock look like it wanted to fall so I shorted again at 62.08 and was stopped about two minutes later at 62.40. By this time I should have been long following my new rules of trading big mouth stocks.
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For ASD - I saw that soon after the open, the stock did not move - in fact looked like a delayed open. I started typing in an order to buy instead of shorting (being smart this time I thought) and just as I hit send, the stock opened and ran like crazy. Thank God I was not short but Damn why could I not get logn. That trade if entered, could have saved the most of the day. And then, I should have gone long again about 10:30.


To add to my pain, played around with the futures, trying to pick a break down point. That netted me a loss of $149. I had also placed my first currency trade in a while. It looked like the dollar might had put in a short term bottom against the majors. The Swiss Frac was the weakest so I thought the Dollar could be the strongest against it. It started moving in the right direction but I guess with the US stock futures dropping - the Franc died about 8:00 pm hitting my stop. Add another $450 to the ply of losses I had today.


Another painful event to add to all the pain - was while I was having my fun going hurt shorting WGOV - MissedTrade in his new premium trading room called out going short GRMN. I did not look at it carefully until it about hit its peak at 84.25. Once it started dropping, I placed an order to short at 84.10 which did not get filled. You can click on his name or on the link right below the my title line above.
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Again all I needed was to get filled on ASD and GRMN and the day would have been a big nothing. Get filled on ASD a second time, and I would have had a profitable day. Instead you can see the numbers below. So close yet so far- Damn.
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The numbers -
Stocks - gross -513.50 net -542.95 shared traded 3000
Stock Futures - gross -130 net -149.20 contracts 8
Forex - gross -430 net -435 one full contract
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Total -1107.95 --- OUCH

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Mother told me there would days like this.

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