JAN 22 2008 ... a plea for traders

S

SethArb

to share some winners and losses and the lesson learned if any ... ( ok sorry newbs ... no "secrets being given out )
except one has to work hard no matter what and even stand aside if needed of course

I will go first ...

got up 4:15 am EST to see the carnage ( before the 8:20 am EST
fed rate cut )

was up in my usual precious metals arb - spread etc
but had a very small position in some XAU components
and other miners which I had taken home friday late
for a day trade

whoops ... joined the "sellers over" and sold most of my shares
on the lows ... then after the "cut" tried to buy them back
and got "cut" in my P+L after the retracement

did make out as I said ok in my metals arb etc ...

but instead of being up 1K or 2K am basically flat today

whew ...

at least I have a nice glass of bordeaux awaiting me tonight with dinner

:p
 
Lots of volatility out there...spikes everywhere like SYK WMB SHLD WB were very profitable. Got to have a good scanner.
 
#1. Putting in buy orders for CEF's away from the market can result in supremely awesome fills - bought ADX @ 11.76 on a 12.20 bid order. As borat would say, Niiiiiiceee.

#2. Don't get greedy. Cancelled my 97 takeprofit on TWM last evening as I didn't know where it would open. Bad idea.

#3. Tomorrows a new day. Frequent re-evaluation probably necessary in this market.
 
now back in the green doing arb.

but yes ... today was one of those days where
you did not want to be taking a dumper at 8:20 am est
unless you were shitting green

:D
 
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