Livermore, Tudor Jones and Cohen

The Good, The Bad and yes even the Ugly

BRC -.88
MAA +3.20 (loss)
DEI +3.44 (loss)
TXHR -.20


In hindsight today's surprising GDP numbers would have taken me off the short side and onto the sidelines (if I was still managing other peoples money) but to keep things fair, losses must be recorded with the gains.

:(
 
Quote from Standard Oil:

Consider what the market is for a moment. In my opinion the market is nothing more then an auction house.

The final price paid is two fold.

One, historical price levels and Two, the newly perceived value.

If price is moving too or from key levels a trader needs to pay close attention to how that auction is playing out.

Is it fast and furious, is it slow and methodical, is it erratic etc, etc...

This requires detailed analysis and will either confirm or negate on various time frames.

Further more not all price levels are created equal. A great trader can look at a chart and see where the majority of buying pressure or selling pressure "should" be located. I understand these are vague concepts to express into written words but it's the best I can offer on such a format.
More...

First off, a disclaimer - I don't trade stocks, and can't be arsed to look through the names mentioned to see what the results were.

However - this post caught my eye. In particular "not all prices are equal", as it seems we share at least this in terms of our philosophy.

In my view, it is absolutley the case that some prices are more important than others. Finding where these important prices are, and watching the markets reaction to them, can be a very powerful tool indeed.

May I ask if you have read "Mind Over Markets"? Your comment resonates with a few of the concepts in there.
 
SO, when you say the GDP numbers would have taken you off of the short side and on to the sidelines, does that mean you would have closed immediately after they came out, or that you would have analyzed things differently?
Just curious why you would trade differently now than before.

I got squeezed a bit on the short side today as well, but as you mentioned, "them's the breaks".
 
Long Candidates:

None


Short Candidates:

BDC
IRM



Yesterdays GDP numbers have put a "fly in the ointment" to what was looking like a nice auction campaign to the downside.
 
Quote from TheGoonior:

SO, when you say the GDP numbers would have taken you off of the short side and on to the sidelines, does that mean you would have closed immediately after they came out, or that you would have analyzed things differently?
Just curious why you would trade differently now than before.

I got squeezed a bit on the short side today as well, but as you mentioned, "them's the breaks".
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Back in the day when I had a team of very smart people working for me and tons of computer power, we could build IF/THEN models and catch moves right after numbers where released but as an individual retail traders this is too difficult to do with any consistency.


We never know just HOW the masses will react to "Surprise" Econ numbers, so it's usually best to wait till they show their cards before we join in the game.
 
Quote from Badoit:



May I ask if you have read "Mind Over Markets"? Your comment resonates with a few of the concepts in there.
More...


Mind over Markets is a very good read and I would consider James Dalton a very bright man.

MP can be used as a powerful tool BUT I do not believe a trader should use it in a vacuum.

A trader has to find a language where the market speaks to him in away that "he" understands. "He" must see with his own eyes what is clearly going on .

This is why it takes TIME for a trader to learn this craft because even though the market only has 3 faces UP, DOWN and SIDEWAYS how she wears these faces is different every Day, Week, Month and Year.


History does repeat itself but it never repeats itself in the exact same way.
 
Nice little run and I do not like Friday afternoon trading, so I think I will close all positions now.

BDC -3.85
IRM -2.85

That makes up for the knucklehead move I pulled yesterday.

Good thing I'm retired and this is just fun money. :D
 
Decent Day

SHO -3.54
NPBC .18 (Loss)
BKH -3.22
MNTA -2.63
FDO .91 (Loss)

I had some issues getting good fills on a few stocks today?

I hope me posting these trades in ET doesn't effect my bottom line :eek:

:cool:
 
Quote from Standard Oil:

Decent Day

SHO -3.54
NPBC .18 (Loss)
BKH -3.22
MNTA -2.63
FDO .91 (Loss)

I had some issues getting good fills on a few stocks today?

I hope me posting these trades in ET doesn't effect my bottom line :eek:

:cool:
More...

Hi Standard,

Based on your comments and numbers I take it you are getting in right from the bell?

When did you get out of FDO?

Are your choices just based on technical analysis, or is it not just a coincidence that alot of your choices have had news?

Thanks for doing this, I am trying to follow along and learn.
 
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