Marketgeometry

Monday, June 28, 2010

Stupid Monday - important for me to read over and over - 6/28/2010

The chart above has a lot of details. Bottom line is I allowed a fucked up trade Sunday night to effect my plan for Monday morning.
-
I had expected a pop of 30-40 cents soon after the open of the Big Mouth Stock OVTI just like its sister stock CRUS. With the market being sick like, I wanted to short the open just in case it started falling right off the bat. I had the plan to continue shorting 20 and 40 cents up then adding on a new low. The market opened - I got filled and OVTI ran up 40 cents and I had no stomach to follow the plan. I then panic and covered then got pissed and sold again and then covered for a very small gain making only my broker happy.
-
This kind of trade drives me crazy that my plan nails the stock but I chicken out and screw it up.
-
I was very stupid last night. Out of what I guess was boredom - I shorted a new low in the YM futures only to see my stop taken out in an insane 90 second move up.
-
I really screwed up the mental game today. Once the trade was done in OVTI - I was useless.
-
To add insult to injury - I wanted to go long OVTI if it took its mid-morning peak out at 23.40 and it did running 80 cents. Also to do the same with CRUS at 16.65 and it ran 75 cents.
-
Somebody give me a gun to stick into my mouth.
-
The numbers:
Stocks: gross +96 net +72 shares 4800
Stock Futures: gross -200 net -210 contracts 2
Forex:none

No comments: