Tuesday, July 22, 2008

07/22/08

+339
37k Shares

With the gap down this morning, I was looking for a long entry. I took a look at AAPL and saw it made a pretty good move down right off the open, I looked for the fade, jumped in long at 9:32 with 100 shares, and as it moved up through another couple hundred on. It worked out well, but probably should have added more on at the start and held at least 100 or 200 throughout the day. I traded it a little later on when it was breaking high around 2:30

AMX was a nice short that I got into late morning kept trading around the position getting in and out, should have just held the stock. I ended up exiting the trade at 11:35 on the bounce. It went down over a dollar more.

I took pretty big losses in TXN and MRK in the afternoon. I put on a decent size position short in MRK and then 3 minutes later news came out on it. It only moved 15 cents, but was quick enough for me to exit my position. Also had 1k shares in TXN that just stopped working shortly after 2:30.

I wished I watched CME a little closer this afternoon, missed the large rally completely, I tried to get into it this morning at the 340.xx area but my limits weren't hit.

Overall, I traded pretty poorly today, yet again getting in and out of positions too quickly and not holding long enough.

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