It is a felony not to short WYNN today considering its recent run-up. I shorted 3 stocks out of 4 I mentioned on the mailing list last night. They were WYNN, FSLR, MHK, and ROK.
WYNN was the worst offender. So I naturally targeted this one. Nevertheless, I missed the first and second big drops and only caught a small one in the end. WYNN gave us so many opportunities to short into today and it was truly very hard not to make any money shorting it. When the signals were there in the morning, I lacked a strong conviction. I knew I needed to act but… No buts… I just chickened out. If the first one was forgivable, then the second one was absolutely not. I need to take some notes about these 2 missed opportunities.
As for ROK, It was a loser but a good trade since I lost a tiny bit in that position. It was the same with the AAPL short trade. I should have flipped to the long side of AAPL right after I closed my short position. I really thought about it. I am still wondering now why I did not pull the trigger. Where is my mental flexibility? I had 100% short positions today and that was not too normal. Shorts and longs should be even in a choppy market. I also took 2 short positions in MHK. Both were small winners. Here is my portfolio in which I post my day trades real time.
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I am fine with you running a program automatically checking Satuki’s portfolio. Please stick to the following guideline though
1: Make your refresh rate 2 minutes
2: Stop your program at 4:00 PM when the market closes
3: Do not run your program until 9:30 when the market opens
Satuki never trades in pre-market and after hours. Please implement it as soon as possible. Thank you
Posted on May 6th, 2009 at 7:13 pm
I failed to short WYNN as I was looking at LVS instead. However, I was able to play AAPL almost perfectly as I shorted it 3X(2 via short positions, 1 via PUT options) each time it rammed into its 200 period SMA (on the intraday 1 min.). Then I went long after it broke the resistance of the the falling wedge. I think I got lucky watching that one as I was also playing DXO just around the time when AAPL broke out.
Great call on WYNN!
Posted on May 6th, 2009 at 10:51 pm
Good for you Jeff. Stocks alone are more than enough for me to handle.
Posted on May 6th, 2009 at 11:52 pm
read your article, you know, I really hope you’d post your trades in twitter. unfortunately I can’t look at your webpage at work. all social webpages are blocked at work. :(
in any case, what did you think of the fact that BAC went up in spite of the $34B additional capital requirement? I actually think stocks overall would be going up because the uncertainty factor is being removed. However, some of those regional banks may suffer though.
Posted on May 7th, 2009 at 12:07 am
Twitter is a social network that most companies block. If I post my trades on Twitter, you can not see them. No company would block my site though.
As for BAC, you are right about the uncertainty factor, which the market hates most. Like I said before, we have hit a major bottom. Knowing that is meaningless to short term traders like me though.
BAC is ripe for a quick short if you ask me.
Posted on May 7th, 2009 at 12:29 am
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