Monday Trade Review "BINGO" 4/27/2009

Finally I traded one of the big mouth stocks the way I know how and how I had done it in the past. I shorted 1000 on the 8 am open of many brokers premarket and got some nice fills. My goal as long at I did not take any heat to sit on the position thru the entire premarket session. And I did.

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In hindsight, I could have gone into and out of the stock multiple times for a profit but I was determined to sit on my hands and then add to my position on the open. I put my orders in and got filled 700 out of 1000. My position was 1700 and my target 13.60. My cost was about 14.30 so if I hit my target we were talking about an $1200 gain.

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I knew I would not make that because the plan was to peel some and then protect the gain with a stop loss. I peeled and moved stop and peel a little more and moved the stop and I was going to peel again but hit the wrong order and closed out the position very closed to the low. I was very happy and made $800.

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I only made one other trade of note. Too many people were after my attention to trade much but it was a happy day for me.

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It was my best day in a very long time and the longest I have held a trade I think in two years. I wonder if that means something.

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The numbers:

Stocks: gross +875 net +848 shares 5400

Stock Futures: none

Forex: none