Well, it was another day with much to do other than follow the market. I was on for about 45 minutes, roughly 11:30 to 12:15. The first thing I noticed was that IB had no shares to short of my favorite trading vehicle, the SKF! This was a first for me and I still don't know if it was some sort og glitch or not. The ETF has so much liquidity that it seems unreal that no shorting was possible. Anyway, I was looking at the SRS, GS, and UYG also. GS seemed to be moving enough to give a good chance at gains but I favor the SKF and decided to focus on it although from the long side only.
I went long at 168.25 and picked up 39.5 cents. I had been watching for a continuation move from the prior two candles (1-min) to confirm the reversal of the down leg between 11:57 and 12:01pm. While long, volume was shrinking so I knew this brief covering rally I was a part of was ending. I decided to clear out with the very modest 39.5 cent gain in anticipation of another drop. That drop soon materialized because the very next candle was a $1.62 move down.
Like yesteday, I'll take my one trade gain and prepare for my day-job duties; this one an appointment at 2:00pm.
-
1 for 1, 100%. Gain of 1.23 per share.
-
February Recap - Added on May 8th, to bring the whole blog into the same format:
-
74 for 108 in February, a 68.5% success rate.
(Approximately! Two bad days on the 24th and 25th didn't list any trades out of frustration so I haven't done the research in IB Statements to determine the actual activity. I'll count the losses for now and not the individual trade activity.)
-
Monthly Loss of -$6.19 per share.
Days traded: 11
Days with a gain: 8; 72.7% success rate.
Days with a loss: 3; 27.3%. three losing days really killed me, -2.53, -8.00, and -4.50 per share
