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Well, it was an interesting market and trade. As I stated earlier, I wanted
to short BA when I heard about the major crash in Asia and Europe. Why, BA,
it is one of the biggest exporters and it has already been rocked the last
few days.
Unfortunately I can always get a good price.. This is a mistake I often
make when the market makes a strong move. I try to catch the initial blast
but usually I don't because my trades are too small, relatively speaking.
I do a lot of shorting when all hell breaks loose. So I placed my order
before the market opened. Then the stock dipped and I should have gotten
out, but due to time differences between west coast and est coast I am not
thinking too clearly at 7am PST... So I just let it ride.
Then as it keep rising, I got concerned, after it rose to 49 and stayed
there for 30-45 mins It seemed to be making a top.
So I thought I could average down my cost by buying another 1000 shares. At
this point the market was beginning another down wave. BUT BA keep rising?
So I became more nervous and keep watching the tic, it was strongly negative
and the market stay pretty strongly down.
Then around 1:00PM est, I decided it wasn't going to work in my favor, so I
have learned there is USUALLY a strong market move up or down at around
1:30PM est. SO I decided to get out at 49 if I could. I was lucky to get out
where I did.
I am still surprised that BA didn't go down further. All things considered
it should have..I thought I had chosen the right stock considering what was
happening. But BA had a lot of strength considering so many negatives.
I do appreciate your comments like the one I received from nwinski, about
how he felt I used poor judgment. This may be the case, based on logic, but
I don't always use logic in my trades. It is more a gut feeling. Your
feedback gives me way to maybe fine tune my trading style. I doubt if I will
change, but I do consider all that is said.
As for when to buy and when to sell, I usually just wait for a stock to
stablize and then buy or sell, or I sometimes I just
play a hunch.
If you have watched my trades over the last few days, I like to play
momentium and the waves in the market.
What have I learned? stop trying to catch the first wave....! As I said on
BIG movement days, I try to get in early but never do... I hope to correct
this flaw, but not looking hopeful. I also try to ride the bounces in the
market, based on short covering
close to earning release time, like I did with Micron Tech, and Intel.
What is an expectable loss, hard to say, I remember back in the early 80
when I made and lost $20,000 in 5 days...
I think I am a little wiser, but not always sure.
For those nice fellows who send me the not to friendly e-mails, I am sorry
if I have offended anyone.
I decide to try this as a learning experience for myself, gaining from your
feedback, and for those who might want to consider day trading. It is hard
to expose yourself, in this way. I feel somewhat like I am being evaluated,
in a fish bowl. or taking my final exam at Day Traders school.
So I worry, a little that I might trade based on what you all might think
rather than what I think is right. So please understand!. I hope my gains
and losses provide some purpose to those of you who don't DELETE
automatically when you see my name... DAM another stock e-mail....NO
BEAUTIFUL CHARTS! with all of them lines..
Please make your comments via this forum for all to see, unless you want to
gus at me for being such an "arrogant fraud,
showoff, or dam fool.
Regards to All
Don Green That Smart Ass!
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