Market Flogging

Trend trading in the stock market

Wednesday, November 01, 2006

Better lucky than good

No time for charts or much of a narrative yesterday with Halloween or tonight. I'm getting the house ready for painters coming in the morning.

The lucky - yesterday I decided to liquidate most of my holdings in my trading account prematurely. Anything that was way up above the trend line got sold, and my short got covered - CRDN. Well, this morning, it gapped way up and ran from there. I booked a nifty little gain yesterday, but would have gotten sold above my stop price this morning. Lucky!

I lost ENER out of my trading account today. That leaves me with only BABY and LUM in that one. Friday I'll request a check and fund an account at IB. It seems the one issue I had making me doubt whether I wanted to go there is about to be resolved. That's a decent P&L tracker for forex trades. Unbelievably, they don't currently have one! It's coming.

I also lost UTX out of my IRA today. There was a lot of blood in my account today, but little in the way of guts. I didn't have time to look for any positions, but I'm perfectly content to hold cash for now until we know what's going on. will it be a choppy market, a free fall, or a bounce off the uptrend lines? Only one way to find out - go to bed!

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