Monday, March 23, 2009
Net Paper P&L: +870 (Good day, near objective) Caught 6.4% of +13,700
Activity Log:
09:38:59 Ready to trade. 09:39:02 - Buy 2 of AMZN at 7151 09:39:13 - Buy 1 of AAPL at 10331 10:02:07 - Sell 2 of AMZN at 7185 net +680 10:02:25 - Sell 1 of AAPL at 10350 net +190 10:02:38 N (market) The risk-reward was ATROCIOUS. 10:04:34 N (market) Second wave across the board, I was way, way too early. 10:07:22 N (market) Nasdaq continues HOD. 10:07:49 N (market) NEW EXITS 72.20 103.87 10:08:11 Stop trading.
It's been a while, and both stocks had gapped up which made the risk unusually large. With more patience, the right exits would've made the day a +1070, objective reached.
Post-Market:
AAPL went straight to 107.00, AMZN to 75.40. The problem that plagued me in 2006 and part of 2007 is staring me in the face again. More precisely, AMZN never went back under 72.00 after 10:00am, and AAPL never came close to 104.00 mid-day. Classic, classic example of short-sightedness. Notice how I turned off my trading workstation at 10:08, just before the rally picked up again.