Thursday, February 08, 2007

Thursday's Trading Results

Dear Trading Journal,

It felt pretty satisfying to be back on track.....

Read Full Post.....
Patience was the key today. I waited around for a quality setup to come to me. I made one quickie scalp of ICE Mar07 155 Calls, but I resisted the urge to chase ICE after closing out that winning options trade.
When I got out of my first scalp of MA, the urge to chase the break above 113 was very compelling, but I resisted. Stick to my plan, stay the course. I kept reminding myself that stocks often give second chances. It was better to wait for the low risk second chance than to chase the high risk, after the fact breakout. Lo and behold, MA offered me not one, but two more low risk opps.
FSLR was a small loss that I was glad to take. What stupid piece of bile of a stock. Despite my hatred for this piece of junk, I recognize that FSLR is the type of stock where it is better suited to play the pullbacks instead of breakouts. Some stocks are just like that, they will breakout and fail, but the pullbacks will have a better chance of working.

Bought ICGE @11.32 for a swing play.
Still holding EXEL.
I'm also still sitting on my TSX uranium plays:,, and UUU.v

Based on my Uranium Index, I might have a new way to play Uranium stocks. I'll let my half baked idea bake some more and investigate to see whether it has a chance or not.

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