"A man is not finished when he is defeated. He is finished when he quits."

Thursday, May 27, 2010

Later in the day...


I added this practice-trade short in RIG during its last big push down at the 2:10 candle. I took it as it just started to break to a new LOD. Covered a bit early because I chose yesterday's late top (3:00 candle) as support. 25 cents off the low was close enough for me, considering the dayrange was $4.72. Turns out that the 1:50 to 2:50 pm base highs were the support of choice for the traders with enough juice to reverse a stock from its big daily slide.

This week so far...


Day job was busy Tuesday and Wednesday and I was out of the office while the market was open.
On Monday, however, I was able to practice-trade some in the afternoon. I held some shares of TNA overnight, mostly by accident. I couldn't close them the past two days for reasons I mentioned above.

The market has popped today so I've sold them with a limit order at $48, close to the top at open. I have to return to other duties so I am shutting down the computer for the rest of the day. I look forward to a day when trading takes precedent.