Hello traders, well I was not able to get back with you guys regarding my trade ideas for today, but today was a day that I must admit I over traded and gave back my gains after fighting my way back to even. I got caught in STEC with a little too much size before the move was about to really take place and that caused me to get shaken out my position. I then fought my way back with the coal stocks and then gave it back in the afternoon, while I was eating my nasty tuna( Tuna diet gotta get in shape) and being bothered by the main office saying me and my traders were making noise. Funny because the only thing on in the room was the T.V ( CNBC ) and the CPU Speakers( T3). Now I must admit we like to use other services to see some stocks in play, but these T3 guys are not amped up like it may seem. Many of there plays involve quick momo stocks that will leave you hanging if you chase or if your not quick enough. Today I give you an example of why you must be careful playing other traders plays with out having a feel of the stock before hand and why it is key to stick to your own game plan. My gameplan in the afternoon was to crush PCX or LVS for I knew that they were strong and would run up to new highs at the EOD. On the other hand not being patient for them to setup and then entering other position with the capital I was going to use to purchase those stocks, I found myself in RINO. A low volume POS stock that T3 called. Now if I would have stuck to my plan I would have crushed it at closed and ended the day nicely. LESSON: Stick to your game plan!!!
Welcome back traders. I am currently leaving home to head to the office now. I will try to get some basic analysis up for you guys to start your day on the right foot. Feels good to be back!!
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