07/11/2008

($1,406)
37k Shares

After a fairly solid day yesterday, came in a little over confident today trading some larger size than I usually do. I started off the morning going long GS, LEH, MER, JPM. All of them worked, except GS which decided to sell off pretty hard I held on for the entire sell off and was down over a point on 600 shares, I felt it would probably return back up because the rest of the financials were doing well as well as the market.
I ended up getting out as it was pulling back up when I really should have just held it as it continued going further up. Oh well.
I had another big looser when I was long MON and just before 10:30 it decided to sell off over a point along with the market, with me in it! great fun I tell ya.

The day started going downhill pretty quick when I was fairly heavy long at 10:15 when some news came out on FRE and FNM and the markets went into a free fall. I was down very close to $2,000 but scalped FRE and FNM to the long side in the early afternoon to make back some of my losses.

Today was a pretty solid losing day, I'm trying my best to not lose more than $1,500 on a given day, but usually not more than about $800. I'm aiming to have my winning days double the losing days. We'll have to see how it goes.

I will be off all of next week, so best of luck to you all, and I will post when I get back the following week.