Trading Journal - May

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I'm also very inclined to short this rally. In this bear market, such tremendous up days have always been a knee jerk reaction, followed by decline back to original levels. I think the late day divergence between the Nasdaq and SOX is telling. Just bought a couple of SOX May 500 puts.
 
Originally posted by Htrader
I'm also very inclined to short this rally. In this bear market, such tremendous up days have always been a knee jerk reaction, followed by decline back to original levels. I think the late day divergence between the Nasdaq and SOX is telling. Just bought a couple of SOX May 500 puts.
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I contemplating buying some more puts as well. I'll decide in 5 or so minutes before close.
 
TODAYS EXECUTIONS:

15:53:25 QLGC SHRT 2000 48.63
11:59:23 QLGC BOT 2000 45.58
11:22:12 KLAC BOT 2000 58.28
10:46:34 DIS SLD 2000 23.78
10:13:42 QLGC SHRT 2000 44.58
10:02:33 KLAC SHRT 2000 57.28
09:40:19 QLGC BOT 2000 43.62
09:32:50 QLGC SHRT 2000 44.17

OPEN POSITIOS:

LONG .SJXQL 5 17.00 +24.40
SHORT QLGC 2000 48.63 +0.16
SHORT CPWR 3000 6.95 -0.06
LONG PALM 10000 3.63 -0.92
SHORT VZ 2000 40.23 -1.12

CLOSED P&L: ($3,010) OPEN P&L: $1,250
MTD: $10,640 YTD: $169,972
 
Originally posted by Seanote


I always watch the Put/Call Ratio... It's one of the most important indiactors. IMO
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Seanote,

What do you consider extremes on the Put/Call ratio and what exactly are you looking for?

TIA,

Kev
 
Originally posted by Seanote
CAN YOU BELIEVE THIS STOCK!!!!!!!!!!!!!!!!

This is reminiscent of the old days, a perfect example of why you don't try to short at what you think is the day high and hold your position if it moves against you. It can be easy to get caught up in the psyche of ......" this stock can't keep going up???" it's already up $6 today, I'm going to average up. That's why a placed my stop and stuck to it even though I thought there was good possibility I would be covering at or near the day high. I saved myself over $4K of additional losses closing when I did. This is why Risk Management is THE SINGLE MOST important aspect of trading. I made a bad call on QLGC and KLAC but I recognize the risk opening those positions when I did and was willing to accept the risk/reward possibility.
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a lot of guys were inclined to short this rally, and were all struck with the same disease of disbelief in the strength and force of this rally,

don't feel bad, because a lot of guys threw up their hands, closed their apps, shut off their screens and went out...

QLGC up over $10 was extraordinary,

whilest the (so called Pristine call) on WCOM at $2 and above on its way to $3-$5 was a loser today

go figure
 
TODAYS EXECUTIONS:

09:41:51 QLGC BOT 2000 48.05

OPEN POSITIONS:

LONG .SJXQL 5 17.00 +40.00
SHORT VZ 2000 40.23 +0.07
SHORT CPWR 3000 6.95 0.00
LONG PALM 10000 3.63 -0.97

CLOSED P&L: $1,160 OPEN P&L: $10,340
MTD: $11,800 YTD: $171,132
 
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