Wednesday, October 15, 2008

How did I do that?

I somehow managed to pick the only two stocks in the market that didn't go down today.
I assumed the market was in a downtrend so I shorted AMT when it bounced off the 20 period moving average (green line and arrow). It had a pretty good run down to 29.50 but then bounced up with the market just after 2:00pm. I trailed my stop on the 50 period moving average and stopped out about even.
FDG was an emotional buy as evidenced by my entry point. Dumb. It was a losing trade until it headed down, but for some reason it bounced back up near the close. I had placed my stop on the 20 period moving average later in the day to avoid a loss in this stock. I thought it might head down with the rest of the market (and the rest of coal stocks) but it jolted higher.

I'll live to fight another day. I did make 7 bucks today, so I guess I shouldn't complain. I'm sure there were quite a few people that lost their shirt today.

1 comment:

slotmonkey said...
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