http://www.stockrake.com

Well the markets ruined my bounce back today by ripping away a 3% gain in the morning for the RUT and proceeded to cascade till the close. We did get exact low closes in the some of the indexes today and I’ve talked about it before, but that can lead to nice bounces the next day quite often. I added to my longs in the indexes on this premise and other “premises.” I think we hit the panic settings and maybe we start a “lets forget we just broke every support level in the book rally.” This is going to likely be a 1 day trade for me though. My reduced index position got smacked upside the head today. I threw back on cash in the NDX.

I got into COIN early today and dropped later on for around 7% gain. Like a schmuck I got out too early. It was one of the best stocks on the day and I never had a reason to get out, still didn’t at the close. Next time I’m riding that horse till the end.

I also got into KRY, SDTH, CRDC, USU (that was dumb), and CSCO, all sold with minor losses. I am trying out some new intraday stuff and these were all winners (aside from USU) until the market hit a brick wall. The key was to sellout when my stuff shows sell and minimize losses and thats why I have alot of little losses on these stocks. However, the other item is to ride the winner, which I didn’t ride long enough. COIN absolutely exploded today up as much as 54% on the day at one point and I was able to get on the 9:30 bar for cripes sake. If I don’t get scared out of COIN that gain makes up all of the loss from these little trades and then some.

This newer intraday stuff I’m testing out keeps me busy and I don’t have time to make the posts during the day as much as I did in the past. So until I get a better handle on things I’ll just recap eod, which I’m sure most people are happy with because sometimes I can be a posting banshee.

Now if the Heat can beat the Timberwolves maybe just maybe we can bounce in the markets tomorrow. Lets go Wade.

**Oh as a reminder for those that aren’t aware of inverse market trading vehicles, considering we may just have entered a fresh bear market it might be a good idea to familiarize yourself with them.