Friday, June 13, 2008

Lightened Up

I took advantage at points in time to lighten up where I could today. Hate fighting that tape. To say I wasn't a worried about the action would be a lie. The last time I said I wasn't worried I was short Lockheed and it got taken over. I always worry, I have to. I did real well on my stock shorts, but my $NDX puts screwed me up. I shorted the snot out of GNK today and that helped a lot. I also got long LEH on the squeeze and did well there.I still have half my exposure on and don't think the trend has changed based on today. It really is all about oil though, and we will have to see if the G8 boys can stir the pot. I personally think it's a lot of chatter at this point. I'm off to an early dinner with the wife, kids and outlaws-uh, I mean in-laws. I'll be back later with some details.


anarco said...


I find myself visiting this blog often. I like your trade ideas and passion for trading. It is contagious!!!

I only trade intraday so my entry an exit points are crucial. Since you seem to hold positions longer than me, could you tell me if your entries are important. If they are, how do you determine them?


upsidetrader said...

thanks for stopping by,90% of my action is day trading, i will hold overnight when i feel strongly that the wind is at my back- i use the daily chart with emphasis on the 1,3,5 minute over the 20 day sma

About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.