Wednesday, July 23, 2008

Wednesday, July 23, 2008

Off The Hook At Headquarters

Today was just one of those days that you want to put in a bottle. Listed here are my three shorts. I posted WM this morning and shorted it at two different points as indicated by the arrows. The first short was held, I just shorted more into weakness. I've never discussed position size or how much money I make in a trade, but I had big size. I held a quarter position overnight but kicked the balance near the lows.

I was also short XME that I also posted mid morning but got stopped out as indicated by the blue arrows but re-entered at the red arrow with my approximate cover. CLF has been a favorite short as it has all the goodies that are getting slaughtered, the arrows are my entry and cover.


I also shorted WFR at 45 and covered at 39 and caught BIDU for a long for 12 points(luck) I had a good quarter today. I don't know how this will present as my spacing abilities on blogger leave much to be desired.


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.