Flogged By Market
I don't know what the hell happened today. The market was up to an all time high, yet I managed to lose fairly substantially with my longs and win nicely with my shorts. Am I trading the George?
Got a bunch of stuff stopped out, too. I'm seeing significant turnover in the portfolio for some reason. Trends are just busting all over the place.
First up is KLAC:
I don't like losing them when they move back up and close above the trend line, but that's what happened. This wasn't exactly a bottom-looking single stick though. Only a small 1.56% loss.
Next is SBIB:
After 50 days a 1.39% winner. It broke the wrong way out of consolidation and would actually make a pretty decent short here for breakout players.
Next on the exit side is GLG:
Bummer this one. It was making a nice strong move off the trend line just before puking on me.
Last of the exits is in my trading account - ADI:
I bought this one above the prior low, hoping it would hold and form a new trend, but it is making a new low instead. I like these types of stocks because they are often forming a bottom and start trending back up, but not this time. This was a quick 4% loser.
I added one new position to my IRA - HIG:
Nice trend here and a nice tight stop under 3%. Skinny channel on this guy.
I'm keeping track of my "Stop Value" now and it means a bunch more to me than the fair market value of my account. Since I'm not selling at today's prices, why do I care what they are worth? I'm much more interested in what I'd sell for if my stops are hit. Only in rare circumstances like we saw with HET yesterday will I be selling above a stop. Stop Values + Cash = Stop Valuee. I'll report monthly or quarterly (haven't decided which yet) what $10K invested on October 1st with me would be worth on report date. Both FMV and SV will be reported.
Currently, my Stop Values in my IRA average just over 2% loss, while my trading account is a a predictably 4.4% loss as all positions are at their original stops.
Whew! I'm tired of this post.
Oh, one thing. I forgot yesterday to report ORB got kicked out. Small loss on that one. I need to go check and see if anything is left:)
Got a bunch of stuff stopped out, too. I'm seeing significant turnover in the portfolio for some reason. Trends are just busting all over the place.
First up is KLAC:
I don't like losing them when they move back up and close above the trend line, but that's what happened. This wasn't exactly a bottom-looking single stick though. Only a small 1.56% loss.
Next is SBIB:
After 50 days a 1.39% winner. It broke the wrong way out of consolidation and would actually make a pretty decent short here for breakout players.
Next on the exit side is GLG:
Bummer this one. It was making a nice strong move off the trend line just before puking on me.
Last of the exits is in my trading account - ADI:
I bought this one above the prior low, hoping it would hold and form a new trend, but it is making a new low instead. I like these types of stocks because they are often forming a bottom and start trending back up, but not this time. This was a quick 4% loser.
I added one new position to my IRA - HIG:
Nice trend here and a nice tight stop under 3%. Skinny channel on this guy.
I'm keeping track of my "Stop Value" now and it means a bunch more to me than the fair market value of my account. Since I'm not selling at today's prices, why do I care what they are worth? I'm much more interested in what I'd sell for if my stops are hit. Only in rare circumstances like we saw with HET yesterday will I be selling above a stop. Stop Values + Cash = Stop Valuee. I'll report monthly or quarterly (haven't decided which yet) what $10K invested on October 1st with me would be worth on report date. Both FMV and SV will be reported.
Currently, my Stop Values in my IRA average just over 2% loss, while my trading account is a a predictably 4.4% loss as all positions are at their original stops.
Whew! I'm tired of this post.
Oh, one thing. I forgot yesterday to report ORB got kicked out. Small loss on that one. I need to go check and see if anything is left:)
posted by mccrok @ 8:02 PM
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