Thursday, May 28, 2009

oops!



fibs were previous day high to todays swing low. i shorted at a retracement to the 23%. i probably should have let it hang out there for a few bars but i always think i am going to miss the move. didn't really have a good place to place a stop except for above the .67 candle at 9:45. most likely i would have put it .03 cents above at .70. the 11:25 candle hit .69 but if my stop was there it probably would have hit .70. would have been an okay trade, lets see how it ends up at the end of the day. i shorted too early, and didn't have a nice place for a stop so i lacked confidence and took a small loss.






mee (hcpg) bought as it broke the 22 and pulled back to .95. it based just below it around .85-90. i got out as it wasn't pushing any higher.





costco was my OOPS!. i shorted at 11:38 @ 47.89 while it was hanging around the 50% retracement. then i thought i was buying it back at break even but instead my brain screwed up and shorted another 100. i noticed that my p/l was changing and i thought i was out of all my stocks. oh shit! i realized i had shorted more instead of closing out the position. fucking rookie mistake but it cost me alot. when i realized the mistake costco was around 48. i thought i could wait a little bit and get out at break even, but i guess not. the stock ripped up all the way to 48.45. i couldn't take that kind of jiggle. i got out at 43.32. again, i thought this stock would come back in but i coudn't take the chance of it running another dollar or so. i wound up taking a large loss for me of ($90). that just sucks becuase my other losses on the day were 10 and 12. cost was supposed to be break even but instead sent me into a deep hole. we will see what the afternoon brings.

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