Monday, October 13, 2008

Late to the party

I knew this would happen. After getting burned several time last week thinking that we were going to bounce, I got all conservative today. I didn't trust this bounce and even though it held throughout the day I played it with little risk. I got paid back with little gain--a measly .11R. There were several opportunities for 10R gains today, but I was too scared to jump in. That'll learn me.

My best trade today was LLL for a 2.38R gain.
I sold with about 10 minutes left in the day--just before the final huge push up where it met its target. Oh well. 2.38R.

AOC was probably the only stock that didn't make money today--that's because I bought it. It quickly deflated and left me with a 1.11R loss.

I bought IMCL because I thought it would break out of a consolidation. It didn't. I lost 1.11R on that one too.

1 comment:

Nick M. said...

Scott,

You are not late to the party. The party hasn't even started. Wait until good trade setups come to you. Don't buy into the morning gap up madness. Wait until we dip for a little. I have searched and have not found any stocks that make worthwhile longs at the moment. Be patient.