Marketgeometry

Friday, June 20, 2008

Friday Trade Review 6/20/2008

My first 3 trades are on the Big mouth charts below. Here are the other:
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1) Short AKS - new low of the day and pops back up quickly. Stop is hit.
2) Short TS - new low - enter trade as new low is hit. Volume explodes. The bid ask goes from 2-4 cents to 20 cents. I am short 300 shares and I am up $120 to being down $30, 3 round trips of this in two minutes. Get me out - I can't handle this. I make 10 cents a share and then the stock drops two bucks in an insane way - dummy me.
3) Short FTI - I make a little time but I am be driven mad by how it trades. Down 10 cents up 8. Down 15 up 16. Down 8 up 7. Down 12 up 9. A bloody water torture.
4) Short RIO and STLD - both new lows. I also had an order to short AKS but I pull it because of the other two. I get stopped on both after they go no where. Guess what - AKS drops over a buck while I am screwing around with the others.
5) Short STLD on new lows. I was so frustrated I shorted with 500 shares instead of the usual 200 or 300 on this name. Can't handle the bouncing around and sell break even then it falls a fast 30 cents. Dummy me.
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So those are my trades for the day. Maybe I should always write them down this way.
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The Numbers:
Stocks: gross -47 nets -79 shares 6400
Stock Futures: gross -10 net -30 contracts 4
Forex: none

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