Tuesday, October 14, 2008

Charts, Keeping Your Eye on the Ball, Frustration

I will update later today describing my person strategy that I have been following in this market.

Here are some charts with the exact lines I drew yesterday. Today was all about the shorts.


Frustration: I could not short this stock through TOS.


Frustration: Was a bit too slow to notice this stock dropping right from the gap up. I felt like I would chase it if shorted, so instead I tried to short POT (arg).


Frustration: Could not borrow.


Frustration: Not paying attention!

So the lesson learned? I need to concentrate more on the stocks that I research and highlight. I should have easily got 4+ points shorting MON or 3+ shorting NYX. I need to update my chart setup in the mornings so that I can easily watch these stocks of interest without missing the big moves.

On the plus side, I still had a good day trading SKF to the long and POT to the long. Just quick intraday trades.