August 5th - Morning close of overnight paper-trade

Last night I held FCX in a paper-trade short in anticipation of a breakdown. The breakdown took place, gapping lower then dropping from there. I was at Home Depot picking up doors at the open and couldn't be here to close out at the optimal time. I closed the trade after signing on without regard for price action, satisfied that my trade idea was correct. I am on my way back out... to unload the 9 dooors from the truck before it rains then meet Mrs. BlueCollar for lunch. I will return later to watch the markets. No day-job appointments today but tons of errands that must be done during regular business hours. Someday... I'll be able to focus solely on the markets. Until then, the rigors of daily life must be addressed!

August 4th

Here are the two paper-trades in RIG that I took earlier and the short in FCX which remains open. Unfortunately, I hit the "Clear" button to remove the lines from the RIG chart forgetting about my entry/exit lines; hence a bare chart.

I like the short I took in FCX at 74.86... we are bumping against a longer-term resistance area after a nice run from July 19th. On the shorter-term, it is pulling back slightly after a nice run-up from about 10:30am today. I had a chance to exit this at 3:00pm with a $75 paper-gain but held for a bigger breakdown. At EOD I had a chance to get out with a small $35 loss, 3:50pm, but I held for a bigger pullback. We'll see what tomorrow brings... hopefully it will come back into the $74.45 area.

Tuesday August 3rd

No trades today. Very busy with the day-job.
It is one man's observation, but my business is much steadier than last year and I think it bodes well as an economic indicator!?