Trading for a Living - the journey to self discovery

[Th3UglyTruth]

Discipline...well, today was the perfect example of what not to do! Next few days will certainly clarify things!

Background:
- Osama was reported to have been turfed; futures were up when I was up.
- 6:30am and I see a few stocks I was watching go up in the first 30 minutes. Normally, I would patiently wait to see a better entry point. Got it at $12.40.
- Today, I had to go out and was thinking...put the order in before you go out! Place an "on stop" order....

In my haste...I forgot that they report in May 5th...

On another stock we are watching ... ALLT reports tomorrow; we hold NIL.


:eek:

 

[Th3UglyTruth]

Closed up 8% on 3x average 3 mo volume.

In at $18.30 but, again, was in a haste and didn't check that earnings is coming up in a couple of days.....

 

[Th3UglyTruth]

Quote from Th3UglyTruth:

Closed up 8% on 3x average 3 mo volume.

In at $18.30 but, again, was in a haste and didn't check that earnings is coming up in a couple of days.....

Out today @ $19.00. Still have MERC.

ALLT release decent earnings but didn't do anything...$15.46...

 

[Th3UglyTruth]

Quote from Th3UglyTruth:



Now, the other 2 trades that was not on the plan but I took as soon as AAPL announced better than expected results...

TNA - $87.37 entry; $86.60 stop, 10% profit target
TYH - $48.97 entry; $47.75 stop, 10% profit target

Of course, your mileage may vary

Sold TYH at $50; wasn't looking good. 2.1% gain. MERC is not being nice

 

[Th3UglyTruth]

Quote from Th3UglyTruth:

Sold TYH at $50; wasn't looking good. 2.1% gain. MERC is not being nice

Chips committed with MERC. Sell, Hold or add? Earnings today AFM.

From daily charts:
- oversold on Stoch; MACD divergence
- sitting on LT,MT, and ST channels
- sitting slightly above Mar lows

Sentiment (general market)
- DIA have corrected in the past 3 sessions
- ERX drops to mid $75s
- Osama dead? muted market impact

Gut says sell half today. I've chosen to hold over earnings (against my own rules!).:eek:

 

[Th3UglyTruth]

Quote from Th3UglyTruth:

Chips committed with MERC. Sell, Hold or add? Earnings today AFM.

Gut says sell half today. I've chosen to hold over earnings (against my own rules!).:eek:

Eps 52euro vs 37 euro cents.

Continue to hold our position. We'd like to sell in the $13.80 - $14 range for our 10% target; if it runs beyond that...all the better...Stop set at $12.10

 

[Th3UglyTruth]

Quote from Th3UglyTruth:

Eps 52euro vs 37 euro cents.

Continue to hold our position. We'd like to sell in the $13.80 - $14 range for our 10% target; if it runs beyond that...all the better...Stop set at $12.10

Stopped out @ $12.10

 

[Th3UglyTruth]

Quote from Th3UglyTruth:

Stopped out @ $12.10

Crap! went up pass $13 today!

Too tight of a stop?

 

[Th3UglyTruth]

...been waiting for the past few weeks for an entry to play; so far we got ziltch!

Pretty challenging to sit and wait; not having to pull the trigger. Makes me wonder if trading/over trading (that is) can be considered a "habit" like smoking!

Weirdly enough...the markets hasn't been cooperating lately. Today, it crapped down 168pts on the Dow or 1.30% on Euro debt worries and Oil slides 3% on a stronger dollar. ERX @ $69. MERC is now $12.64; good thing we didn't chase it!

LNKD IPO'd well; $85.97. Make you wonder if this is worth $8B . I've used it to create a profile over the past 7 years...didn't really think too much about it. Reminds me of Monster.....looks like a shortie to me! However, it is out of my scope...

 

[Th3UglyTruth]

Sold 1000 Shares for 5.5% gain over 2 days; keeping 500 shares.

Why did I sell?
Watched it all day and it couldn't seem to breach the resistance (trendline).