running money - 35% a year

igt 18.24 ..

1) going to step away from the computer now, sometimes you donot take good entries cause the risk is a bit higher,watching price move away is painful act :D

2) I will quantify the predictability of a (How predictable) / (% of risk ) , later.


3) Never chase entries period. New entries come every week, Theres no lack of these fucks.
I'm going to go watch a movie now, Leonardo Dicaprio.. Shutter Island. Buy some chips and nachos, , nice big starbucks frap.
We come back tomorrow.
 
IGT 17.82

If I had entered IGT @ 17.84 , I'd take a 1 or 2 cent loss.
I would completely sell off right now instead of waiting for a stopout.
, for a few reasons

1) Dow has more to fall.
2) Weak or what?
3) Price will take things to the extremes.
4) If I'm going overnight with a position, it better be in the green.

So I'd sell the shit :D

----------

I'm not in the position, so I think I 'll go eat a cookie.
 
Thoughts on SAME price, Different time. Different value.


17.82 @ 9:50 AM 's value
Is not the same as
17.82 @ 11:31 AM 's value


9:50 has hidden value, as in undiscovered value , (market indifference)
11:31 has no hidden value. (market trending down)


"Value" is not stagnant, its constantly moving with the market.
A bulb of light is worthless @ 2PM in the afternoon, but worth a lot @ 11PM at night.
Many people focus on price as a linear object, wrong.
Its at least a 3d object with Time and Conditions as 2nd and 3rd.


I would not buy 17.78 here.
 
market close thoughts

IGT - as I said bad value

GOLD - down 1.7%
ABX - down 4%
IAG - down 6%

I know theres a lot of bagholders of gold here on elitetrader :)
remember traders....<b> trade what you know, what you seen before, don't hope for shit.</b>
 
CBL long entered 14.30
stop 14.24

-----
1) Price action prediction: Stock must be nicely green at the end of the day or I'm selling.


2) size isn't that big actually quite small, I would have liked to enter LARGE, but would be dangerous for a shifty stock like this. I couldn't MKT STP myself out with $500k shares of this..

3) I do feel its a good entry.
 
plcm - flat. completely MKT out
30.47 (-0.13)
entry 30.60


General S&P Market looks downtrending, I Do not want to be holding this.
 
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