Friday, April 3, 2009
Net Paper P&L: $-1480 (Horrible, market jumped or execution errors?) Caught 0% of $0 Week performance: $-2120, 0% of $14,460
Activity Log
09:22:43 Ready to trade.
09:26:02 (RIMM) Still up 12 points pre-market on good quarterly report.
09:33:34 Sell 10 of RIMM at 5943
09:33:44 Sell 20 of AMZN at 7582
09:35:51 Buy 20 of AMZN at 7585 net $-60
09:38:08 Buy 10 of RIMM at 6018 net $-750
09:38:20 Buy 10 of RIMM at 6060
09:39:55 The spread's really exacerbating these head fakes...
09:41:25 (AAPL) HOD
09:41:36 (RIMM) Not following AAPL, back stuck to 60
09:43:06 (AMZN) Back up to 76.50, exit was good.
09:43:37 Story of the day definitely RIMM. If we can break to 60.50 we should have some room up.
09:43:53 (RIMM) There we go, 60.71, maybe we're unstuck finally.
09:46:09 (AAPL) 114.40 was the long entry
09:46:41 (AAPL) at 9:38
09:47:27 Given the gap, maybe I should've traded 1000 shares rather than 2000 in RIMM.
09:48:09 (RIMM) 6022
09:48:19 Eww what the..?
09:48:34 (AAPL) just about break-even exit
09:49:07 Sell 10 of RIMM at 5993 net $-670
09:49:29 Sorry folks, I'm out.
09:49:33 Stop trading.
Commentary
Clearly I should've been doing something else today. The attempts to catch a retracement, then a continuation of the 12-point gap in RIMM were correct, but there just wasn't any momentum there. Even the trade I didn't enter in AAPL went back to break-even.
Looking back at the week's potential, like last week we had a 5-digit opportunity. Catching it is another story. The worst thing I could do is quit right now in light of this potential. Thankfully I have the weekend to clear my mind.