Wednesday, February 25, 2009
Trading From The Mall
First visit - Intraday Trades - Feb 24th, 2009. I have additional commentary....in the comments of that post.
Today was a good trading day, theoretically anyway. I knew it was going to be a *mover* but had mentally committed to being away from my desk. I went to get Ashes; tried to go swimming at the Y (was too crowded on Ash Wednesday!); and ended up hitting the mall and Barnes & Noble with my kiddies. With all that planned, I wasn't going to be able to *professionally* monitor my positions and take advantage of the predictable volatility.
I dumped half of my FAZ at 61.00 early this morning.
In the afternoon, I started buying it back. I reloaded at 60.00 at 2:35pm. Then, into the face of this *rally*, I bought more at 55.27, cursed, and then left for the library.
I had forgotten that I left a 50.00 bid out there from early this morning - until Kfell mentioned that he bought some stock there. Good for him! And good for me!
I just released that *50.00 stock* at 57.04 in the after-market.
Though I'm sure it technically traded below 50 on an ECN somewhere....officially we bought the low of the day!
Other than FAZ, I did re-initiate a small position in Stillwater Mining - SWC. I got long at 3.31.
And I also dumped the additional SRS that I bought yesterday. I got in at 69.45 and out early this morning at 74.00.
Posted by CaptiousNut at 6:18 PM
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I got kicked out of my SWC twice, Monday and then today, with my 5% stop-losses. I bought when it was down around 10% from open today and was amazed that closed down another 4.53% or something and kicked me back out. URGH!
I've never had any success with stop-losses. I basically don't use them.
Plenty of traders do however. Big guys too.
I don't like this stock that much. I hope no one buys too much on my account. Put it this way, only .75% of my net worth is at risk here.
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