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I didn’t have time to do my eod report yesterday, so here it is on the weekend.

What should have been a What Worked Today post is really a What Sucked Today post because I made some bad decisions. First I was lightly long going into yesterdays morning window -WHICH was good because after the fly high open the market sold off into the 10:30 morning window. Now, yesterday I said “I reduced my long exposure once again significantly and depending on how bad the morning is based on GOOG, I may be a buyer again.” Well as you can imagine I didn’t buy in fact I sold my NDX for a loss. Instead of buying I gave up a 2% swing just on the position I had and another 2% for fresh positions I was supposed to buy at the morning window and close to 5% for the RUT. Bad trade.

I also made some dumb equity trades, but not the worst things in the world.

My midday sell of EMKR, although great for a 12.8% gain is that I sold  too early. EMKR popped another 10% just from where I sold it on Friday. So it was a bad sell because there was a 23% gain that was missed and again my systems gave me NO reason to sell, but I did it anyways. That was a hot trade and bad discipline.

ABK – ABK buy was friggn stellar, the problem was I didn’t take profits when the stock spiked giving me an intraday gain of 16%. I still held overnight. Good discipline.

CTDC – I bought the thing early, and I sold it early. My stuff never put it on a sell, but I panic’d on it when my systems were flashing sell and the stock then closed at near the morning spike high. Instead of the 7% loss,  CTDC closed up 9.13% and it could’ve been a loss of less than 1%. Remember I bought it wrong though – would’ve been a profit otherwise.

I can’t complain about the KONG trade. I hit the entry and I hit the exit right.

DSTI – I only bought it wrong, but sold it right.

DRYS was a sweet trade too, with the 32% gain, the only thing I may have done wrong was cutting some of my position at the 19% mark. I knew there was more upside, but I didn’t want the risk of full exposure.

Bought FRPT near the close at  4.6, big volume came in.

The CROX Feb 135′s – Spilt milk trade, but the reason I go over these trades is to knock make the same mistakes twice. Since my systems never gave me a sell signal, I should have done a cut 50% or just hung on. Bottom line the same CROX calls were up another 66% just on Friday. Thats a 100% gain. Right trade, right stock, wrong discipline.
I’ll look to put out some stocks I think are ready to rock either later today or tomorrow.

On January 22nd I said, “I had a small long position in the NDX and SPX heading into today and I added to it this afternoon. I’m seeing oversold signals that haven’t triggered in more than 6 years and then beyond that even further. Very rare signals that have come at previous bottoms. The only thing is that we can hang around the lows for a little longer before we move higher. I’m still expecting this Friday to end higher than last Friday.”

Now I’ve also been talking about the sectors that are rolling lately and they are sectors that are telling us the market is done pricing in a recession and the bad news is behind us. Market bottom – BUY ON THE DIPS.

I’m doing my UFC 81 picks over @ ICalledIt.com now instead of here. Last UFC Fight Night I went 9-0 including the dark fights.

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