A 70k bet that I can't make a 50% gain in 2009

14:06

SHORT AMZN 125.48
STOP 125.65
TGT 125.14

out b/e, was 4c from tgt, moved my stop.. went out b/e and tgt 15 minutes later

14:46

SHORT APC 46.63
StOP 46.73
TGT 46.43

out -0.10
 
Puddles/Geez:

I enjoy following the thread, thanks for the contribution. Question for either of you, I believe it was mentioned a week or two ago that Geez was in a long in TAM when it halted and re-opened up ~ +20%. Do you have a plan for, or have you been in a situation where you're caught on the wrong side of something like this? Just pulling some #s out of the air, but if it was instead a short in TAM with say a .10 stop (and the usual $200 dollar value), the loss would have been around 7k when it reopened, or 35 losers worth. Just curious what your experience/thoughts are on risk management for something like this?

Quote from puddles:

By position size do you mean the $ value of the equities in the trade or # of shares?

I honestly do not pay that much attention to it, i just look at the stop size and how many shares I need to size accordingly. If that's 1000 shares of C or 1000 shares of GS, I'd rather not run out of buying power trying to take a setup. So the answer to your last question is sometimes. :)
More...
 
<img src="http://puddles.humanfund.ca/20100826/spy.png">

<img src="http://puddles.humanfund.ca/20100826/syk.png">

<img src="http://puddles.humanfund.ca/20100826/rax.png">

<img src="http://puddles.humanfund.ca/20100826/cvs.png">

<img src="http://puddles.humanfund.ca/20100826/gild.png">

<img src="http://puddles.humanfund.ca/20100826/mhs.png">

<img src="http://puddles.humanfund.ca/20100826/intu.png">

<img src="http://puddles.humanfund.ca/20100826/apc.png">

<img src="http://puddles.humanfund.ca/20100826/amzn.png">

9:35

(2 minute play)
SHORT SYK 43.14
STOP 43.26
TGT 43.9

- Had SYK on the daily short listed based on the great looking daily chart
- gapped up only slightly vs a very strong market.
- Short the LOD
- out -0.14

9:37

(2 minute play)
LONG RAX 19.96
STOP 19.86
TGT 20.16

- RAX with a great daily long pattern
- Someone told me that a major trading blog had RAX over 20 as their play of the day
- Front run!
- The break of 20 was so fast it went to TGT and back before I could get the order in. (I guess a lot of people read that blog)
- Out another 20 minutes later
- out +0.20

9:51

SHORT CVS 27.86
STOP 27.95
TGT 27.7

- CVS very weak from the open
- Short under the lower high
- out -0.09

10:23

SHORT GILD 32.09
STOP 32.17
TGT 31.9

- Same story as CVS, super weak.
- out +0.04 on a fat finger, counting as a loser

10:28

SHORT MHS 45.43
STOP 45.51
TGT 45.27

- SPY big bounce from 10am onward
- MHS not so much
- out -0.1

10:37

LONG INTU 43.21
STOP 43.14
TGT 43.35

- INTU on long watch due to the daily pattern
- Great relative strength
- I was annoyed I missed prior entries on INTU but I should have laid off due to how big the tails were on all the bars since the open
- out -0.07

10:50

SHORT MHS 45.47
STOP 45.56
TGT 45.29

- MHS lets me in again, the 2nd push up after 10am for SPY was not really reflected in MHS
- out MHS +0.18 and +0.30 on a trailer

10:59

LONG APC 48.10
STOP 47.95
TGT 48.4

- APC great relative strength vs SPY
- Sets up a nice range near the highs
- Long the break
- The trade looks great then SPY decides to fall off a cliff
- out -0.15

14:06

SHORT AMZN 125.48
STOP 125.65
TGT 125.14

- SPY starts tanking from 1:30 on ward
- AMZN sets up a nice lower high to let me in
- Gets 4c from tgt, stop goes to B/E
- rips back to my stop, then to my tgt 15 minutes later
- out b/e
- I was 2-5 going into this trade and I knew that once it got to target I'd be even (after commish and ECNs) on what was otherwise a horrible day. This really tilted me and I'm glad I didn't self destruct to my max loss after this.

14:46

SHORT APC 46.63
STOP 46.73
TGT 46.43

- Weak, was probably a little too late into the selloff to get short something
- out -0.10

After AMZN and the last APC I passed on on playing the ARST break out which would have been an easy peasy +80c winner. An overall awful day where I overtraded like a moron but I'm glad it wasn't that expensive a lesson.

http://puddles.humanfund.ca/wp/2010/08/26/2010-08-26-trades/
 
Quote from bs2167:

Puddles/Geez:

I enjoy following the thread, thanks for the contribution. Question for either of you, I believe it was mentioned a week or two ago that Geez was in a long in TAM when it halted and re-opened up ~ +20%. Do you have a plan for, or have you been in a situation where you're caught on the wrong side of something like this? Just pulling some #s out of the air, but if it was instead a short in TAM with say a .10 stop (and the usual $200 dollar value), the loss would have been around 7k when it reopened, or 35 losers worth. Just curious what your experience/thoughts are on risk management for something like this?
More...

I've never been in a halted trade (and I'd like to keep it that way)

I will never short a stock that's currently going through takeover rumors (POT, PAR, GENZ right now). Other than that I don't know what other planning you can do.
 
Quote from bs2167:

Puddles/Geez:

I enjoy following the thread, thanks for the contribution. Question for either of you, I believe it was mentioned a week or two ago that Geez was in a long in TAM when it halted and re-opened up ~ +20%. Do you have a plan for, or have you been in a situation where you're caught on the wrong side of something like this? Just pulling some #s out of the air, but if it was instead a short in TAM with say a .10 stop (and the usual $200 dollar value), the loss would have been around 7k when it reopened, or 35 losers worth. Just curious what your experience/thoughts are on risk management for something like this?
More...


Hey BS,

I really dont have a plan for halts against me, other than just bail. I was caught in 2000 RIMM overnight one time (my mistake-I left an order out and forgot it was there....puddles can attest to this) and it gapped down 12 bucks against me. I just bailed, took my medicine and learned from my mistake. As for halts, just buy a six pack, sit back and wait for the open.
Oh...I got out TAM +7400. hehe
And what hotpuddles said, dont get short in a stock with buyout news swirling.
 
Quote from geez:


I really dont have a plan for halts against me, other than just bail. I was caught in 2000 RIMM overnight one time (my mistake-I left an order out and forgot it was there....puddles can attest to this) and it gapped down 12 bucks against me.
More...

my bad!
 
You must log in or register to reply here.
Back
Top