Wednesday, November 29, 2006

Saved by the bell? or the other side of day trading

Nasty outcome with ZOLT verdict (Am I glad I put a "mental note" to myself in "Attention late shoppers..." post "High risk, no more than 1/3 regular position size or daytrade.

Did just that today; at 2:50 went long @22.81 exited 3:30 @23.95, got slightly upset that did not catch that spike to almost $25 10 minutes after. Glad that decided just do day trade before even opened position. This IS a dark side of trading on technicals alone - close to impossible to follow hundreds of potential trade candidates.
Like they say: "that" happens.

Have to admit - everybody was right painting ZOLT as a short,
BUT - I want to be right LESS than I want to MAKE MONEY - I think I did it - 5% in 1.5 hours is a nice payoff.

Second roundtrip was in AVGN: opened long position at 1PM @6.04 closed 3:30 @6.22.
eased up on few profitable long positions ( might re-enter next Tuesday)
Will be continuing to ease tomorrow as well - into any strength

That said, long candidates (no tactic / price - since I figured that more then 300 daily visitors don't care about details or anything else on this site - I don't need to post price/tactic for myself - I do know it, so this site is a 100% private publicly available journal):

short: (BRLI)

Good night Dave - thank you Dave