Marketgeometry

Wednesday, July 11, 2007

Panic - not Profit 7/11/2007

Boy, did I screw up so far today. I had orders for 4 stocks in this morning. All shorts going against my Big mouth favorites. As I stated before, I try capturing the opening pop before or after the open using my IB account for a half position. I use my TD account to capture the on the open pop with a half position.
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There was no pops on any of the stocks just before the open and only one popped on the open - TCK. I sold a 1/4 position on top tick. I would have had twice the shares if I was a penny lower.
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I usually would pull the orders of the other stocks without a pop from TD right away but I didn't and the stocks ran right after the open. So I got filled on two where I no longer wanted to be. I tried covering as quickly as I could but before I could get both orders in, I has down 75 cents on each and to top that the top tick stock I short went down 90 cents and bounce 75 cents in four minutes.
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Like a dumb shit - I covered my winner too only to watch if flat line 25 cents under my sell price and give another sell signal.
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So I should have been short TCK 500 shares at 46.45 and 1000 shares at 45.20 and out at 45.65 for a profit of about 1000.
Instead I shorted 500 at 46.45 and out at 42.15 for +150.
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So should have pulled my COP order and shorted at 85.25 and out at 85.15 for +100.
Instead I shorted a 1/2 position at 84.75 and covered at 85.25 for a loss of 375.
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So I should have pull my ENR order and short at 101.75 and covered at 101.75 for an even.
Instead I shorted a 1/2 at 101 and covered at 101.75 for a loss of 375
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I am down -564 for the day where if I kept my head and followed the rules I should be up +1100.

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