Marketgeometry

Wednesday, May 12, 2010

A complete moron today 5/12/2010


The top chart is the Big Mouth stock today. Just seconds before opening I had a chance to short it at 38.50 and did not - a mistake. 20 cents of DD for a seconds is good.
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The second chart with the mess on it is BP. I got carried away with BP like a complete moron. I expected it to pop like RIG did yesterday. When it didn't, I expected it to drop like crazy because of the hearings. I was super sloppy. I did not get my stop in fast enough on the first trade and then I was pissed off after that.
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I lost total focus and guts. I was too slow in typing my order to short crude at 76.05. It dropped 80 cents in 3 minutes. Then late in the day I was placing an order to short RIG and I thought I had hit enter as the phone rang. I didn't and missed another good trade. I know - never answer the phone while trading but this was one of those calls I had to get.
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I should be very happy I was only down $225 but on the other hand if I was not sloppy and took the trades I saw after BP - it would have been a good day.
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The Big Mouth Stocks for tomorrow are CLNE and CMCSA. I am already short CLNE.
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The numbers:
Stocks: gross -208 net -232 shares 7200
Stock Futures: none
Forex: none

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