I was able to recover all of what I lost yesterday on XTXI, plus made a few bucks to boot! As I'm writing this post now it keeps making new lows... good. I thought about holding longer, but why when there are so many other plays... I'm not married to any stock... unless she takes me money...arrrrrrr!
As for LIZ, I'm still holding my long position from $3.18. I have to say if this were some fly-by-night POS pumper, I would have covered a long time ago, but LIZ was/is a blue-chip and a very well known clothing name brand.
Manhack PM'd today and gave me a heads up that if LIZ drops to $2.35 that I should sell, and try again later... I cordially agreed. As it stands right now though, LIZ admidst such a dreary day on the market (red ~ 3%) has been holding strong, err created a channel, between $2.45 and $2.50. I'm going to hold in hopes that over the next week or so I'm able to recover what is/was rightfully mine...
We shall see...
BottomFeederMillionaire (can someone tell me how to center this??? THANKS!)
Showing posts with label LIZ. Show all posts
Showing posts with label LIZ. Show all posts
Wednesday, January 14, 2009
Tuesday, January 13, 2009
It pains me to write this...
Trade #5 - short XTXI - 500 shares @ $4.67; holding overnight.
What I did right - nothing. I did everything wrong on this trade that one can do wrong and my position speaks volumes to that point.
What I did wrong - everything. I shorted within the first five minutes of opening bell (which I know and have written several times NOT to do already); my short position was the intraday low and now I'm not going to cover because I "think" it will come back down over the next week... I hope I'm right.
Area of improvement - If this trade doesn't sink my feeble ship, I vow to myself NEVER to trade in the first five minutes after the opening bell! (For the 1000th time NOOB!!!) DUH DUDE!!
Trade #6 - long LIZ - 500 @ $3.18; holding overnight.
What I did right - so far, I don't think I've done anything right. This is a "bluechip" stock (over $23 a year ago), so if I wanted to play as a fundamentalist trader I think it will go up over time... I just have to bite my lip and hope it doens't go lower before it goes higher.
What I did wrong - didn't cut my losses quickly. Again... 1000 times I've written about this... I even have it laminated on my monitor... stubborn Noob! Dumb noob!
Area of improvement - Say it 1000 times out loud... CUT YOUR LOSSES QUICKLY!!!
These kinds of posts truly are humbling and are a reminder that as a human I am really am my own worst enemy... because the ONLY reason I'm in this mess... down $500 intraday, which my small account can not afford, is becaues I broke two cardinal rules that I set for myself!!!
I wrote on the Darkside blog to Muddy, a battle cry for help, however really there is nothing he can do for me... especially if I'm trading against myself. I love trading, but when you trade like a drunk driver... you're commiting trading suicide. Nuff said.
Good luck tomorrow!
What I did right - nothing. I did everything wrong on this trade that one can do wrong and my position speaks volumes to that point.
What I did wrong - everything. I shorted within the first five minutes of opening bell (which I know and have written several times NOT to do already); my short position was the intraday low and now I'm not going to cover because I "think" it will come back down over the next week... I hope I'm right.
Area of improvement - If this trade doesn't sink my feeble ship, I vow to myself NEVER to trade in the first five minutes after the opening bell! (For the 1000th time NOOB!!!) DUH DUDE!!
Trade #6 - long LIZ - 500 @ $3.18; holding overnight.
What I did right - so far, I don't think I've done anything right. This is a "bluechip" stock (over $23 a year ago), so if I wanted to play as a fundamentalist trader I think it will go up over time... I just have to bite my lip and hope it doens't go lower before it goes higher.
What I did wrong - didn't cut my losses quickly. Again... 1000 times I've written about this... I even have it laminated on my monitor... stubborn Noob! Dumb noob!
Area of improvement - Say it 1000 times out loud... CUT YOUR LOSSES QUICKLY!!!
These kinds of posts truly are humbling and are a reminder that as a human I am really am my own worst enemy... because the ONLY reason I'm in this mess... down $500 intraday, which my small account can not afford, is becaues I broke two cardinal rules that I set for myself!!!
I wrote on the Darkside blog to Muddy, a battle cry for help, however really there is nothing he can do for me... especially if I'm trading against myself. I love trading, but when you trade like a drunk driver... you're commiting trading suicide. Nuff said.
Good luck tomorrow!
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