Wednesday's Trading Results

Yesterday's Options mistakes showed up today.....

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Closed out GS Mar07 230 Calls @1.40
Closed out MA Mar07 120 Calls @2.60
The problems with both options trades was in not selling yesterday in order to cut down my losses. I should have sold both as soon as the chart told me that the trade wasn't going to work out. I was indecisive as to how to play it once I had bought it, and that indecision cost me.

Today I had 6 or 7 alerts go off, and wasn't able handle so many different charts at the same time. I passed on a few of them, but made three daytrades today (HMIN, FSLR, PCLN), and promptly sold them as soon as the chart told me that the trade wasn't working out. In retrospect, none of them had valid setups since volume did not show up, so I shouldn't have taken them in the first place. I will start investigating how to add volume into my alert criteria.

Long EXEL @10.27 this morning, holding for swing.
Wasn't at my desk and missed out on MIND @14.6, and didn't have an alert slapped onto AAPL, so I missed that one, Oh well.

Canadian Uranium trades:
Long UMN.to@4.93 (Yes, the entry sucked, and I was too late for the 4.76 entry in the early morning, but decided to take a chance anyways since there was good buy volume coming in).
Long DML.to@11.55
Sold PDN.to @8.69
Still holding UUU.v


Today I think I may have been getting away from my style, which is to hold for the swing. I have not (intentionally) daytraded US Equities ever, so what I have been looking for in the past few months was for the kind of setup that would have high probability of follow thru buying the next day. Typically it is decent buy volume, a tape which I've gotten to know a little, and a chart that I am familiar with. Today's losing daytrades had none of those qualities.