Monday, April 30, 2007

Down markets

Down markets today, my profits disappear quickly in the afternoon. I was happy with the profits in the morning hours and became careless with the markets. Not reacting soon enough! By the close hour, the markets went straight down and I closed all the long positions and bought the UXG and shorted the BHE.

I didn't let the profits run this time. I let URZ run but it didn't behave the way I want it to and I don't want to let the winners become losers. I don't want to repeat the mistakes I made with EFUT and LJPC.

BHE was my first short position. I don't remember when was the last time I shorted a stock. I hope it will do well in the down markets! I might short a new stock tomorrow as the market correction begins.

I was in sleeping mode, all of a sudden the markets went down sharply ! Better lack in the profits early next time.


PPCO
B: @11.98
S: @11.98
+0%
- 1 reward point

CTIB
B: @5.56
S: @5.86
+5.4%
+1 reward point


URZ
B:@6.87
S:@6.91
+0.5%

Short:

BHE
S: @21.23

Why short this stock:
- I was in a hurry as the market went down
- long term downtrend

UXG
B:@6.03

Why buy this stock:
- I saw some up volume spike
- It's been correcting quite a bit
- it made me money

Reward points:
3

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