Friday, October 10, 2008


My wife came to my office this morning for the first time. I was long SSO, short SKF and SMN on the rally. I borrowed early as I thought that maybe today could be the day. I was greener than a Christmas tree and then the questions started. What does that do? Why is that there? What is that binging sound? Not blaming the little lady, my precious pumpkin, but she is never invited back. I am a freak when it comes to trading, and if someone makes noise it throws me off. I trade alone with no interruptions, always. I gave up some huge gains as I performed my on the spot tutorial. I literally had problems selling after the morning surge, anybody else? It was a greed hungry breakout followed by profit taking. I was long and short all day and although I was expecting a rally, missed most of the fun at the end. The morning was good but not the end of the day. It started as a stealth rally then exploded and I would not chase it because I still fear the long side into the weekend. If you are a trader, you have to have SMN in your arsenal as 5 and 10 point intra- day moves are routine.

So many of the stocks I was watching as layups popped and I just watched, although my SKF short paid the rent for a long time to come. It was a good day, but I really just wish we dropped 1000 as it would give me a lot more confidence from the long side. I am still very skeptical. The G-7-8-9 be damned.

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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.