Monday, June 25, 2007

Machined Gunned!

Well MVIS got hammered today, but I stayed long, as I'm still a believer.

Other than that, when the markets get confused, so do I, and my trading today showed it.

I've been watching NTRI for a break out its current range. It looked to be breaking out of it today, so I bought 100 @ 67.47, with a stop under $66.00. Then, when the markets started dropping, I sold out of it at 66.31.

Also, HANS has been trading very weird lately. Again, when the markets get confusing, so does my trading, so I sold my 300 HANS @ $43.34.

I also sold my BKI, 600 @ $15.18

Then, I picked up 200 QID @ $47.37

I have a lot more to write about (like my QID purchase) but not enough time. Hopefully tonight I be able to explain my thinking more clearly.

6 comments:

Danny said...

Don't shit a seagull if you back to 105K, it doesn't mean the future prospects for any of your stocks are less bright, or that you won't finish the year at 165K.

Oh wait, you sold everything? (HANS, NTRI?). So what are you protecting? You got to adjust your balls before you adjust your portfolio, and your balls are nowhere to be seen. Take a 5% dip in HANS and NTRI, I still don't get why the flipping all the time.

Speaking of, if your stop was 66, why the dusseldorf did you sell at 66.31? It didn't even get close to 66.

Also, considering your cash situation, you don't need to hedge via qid.

my 2 ¢.

Woodshedder said...

Damn Danny, I thought I had hidden my purse! Turns out, I had just hidden my balls in it! lol...

No seriously, I overtraded today. I am well aware of that. My plan for today was to not add any new positions and honor my stops. I added a small NTRI position- no big deal, no major deviation from the plan. Then, after the Nas being up 10 points, then swinging down to 20 points, getting rid of things seemed the right thing to do- that was a major deviation from my plan. It probably wasn't a great move, but that is what I did.

Most importantly, if I am truly sincere with myself, it makes more sense to be getting short right now than long. Don't get me wrong, I'm not a bear humper. Its just that the indexes are sitting right above or just below the 50 day. They are not going to keep bouncing off of it forever. At some point they will dip below. If they hold support tomorrow, then I will sell the QID for a small loss. Hey, it is trading, after all.

Anyway, there are a great deal of traders that I respect that are buying this dip. When things get confusing, I lose conviction. Luckily for me, that results in lost opportunity, instead of me blowing up my account. My aim is to get better everyday as a trader, and I feel that I am doing that, although I still do stupid things. Again, I'm not going to pull a kidstock or anything.

The other thing is that work has really ramped up and I've been really really busy and have been having a hard time keeping my head in the game.

Danny said...

I know what you mean. Each week I don't have time to make a video for fly's. Last week it was tests, last weekend was LA visit/car trouble, next week it's more tests + moving.

I think it will be easire to just sack up and hold over summer than anticipate much. Probably won't go higher, but who knows what FOMC might spark. Or set off. Too hard to tell.

Trading Goddess said...

Hi Woody!

I tend to find that on "down" days... the specs are up quite nicely. hmmmmmm

Anyhoooo.... it seems you "lost" your key to my house? Do I need to make you a dupe?

And.. oh Danny? Did you not get my email regarding the vid I want to contract you out for???

What in the world is going on with you people?

I would suggest, first off... some Ginko Biloba!

Danny said...

I didn't get it! I just 2x them all. Email me here:
moneyskater@gmail.com

Trading Goddess said...

Danny,

*&^%$#@ dyslexia!

I am emailing correctly as I type this! :)