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

Monday, November 29, 2010

November 28, update


I stuck around until the open this am after seeing the futures on CNBC. I'm now out of my TNA swingtrade.


Something tells me that the market wants to close that big gap-up from last Wednesday, and is flirting with that area right now. I really have to get to the day-job and can't stick around to watch the action.


Good trading to all!

November 24 - 26

Still short the TNA from the other day. I was certainly wrong from last Wednesday and price rose substantially. That day I did buy a better price short in TNA but I haven't done anything with any other stocks over the Thanksgiving holiday. Price dropped Friday which would have let me out even but I decided to hold. I think things are getting weaker and that this paper-trade will bear fruit soon.
I am away much of the day with work, but will return later. Let's see how this goes...

Tuesday, November 23, 2010

November 23


Off and on through the day, I did some practice trading and was completely out of sync with TNA, the stock I was working with. Other than my 12:54 pm short, I was wrong on my reads, mostly because I am predisposed to look for direction changes rather than riding momentum. Although, on a few of my paper-trades today I was trying to enter at S/R levels and was getting caught on the wrong side of the breakaway. I basically sat on some losers until they reversed in my favor or cheated by "buying" my way out. Today was one I want to forget, the sooner the better.
I am also short some TNA overnight at 56.27, which in hindsight is not the best place to be given the market's penchant for closing opening gaps like the one from this morning. I'm thinking it will be down some after the open considering the run-up in the last ten minutes in addition to any carryover of nervousness from geo-political tensions in S. Korea.
I have an early am day-job and might not be back for the open. It is my intention to take any gain I can no matter how small.