The market was weak today. I thought it would be an up day. But it pared almost all the gains at the close.
Because of some bearish news from Germany, all fertilizer stocks such as POT and MOS gapped down and tanked hard. That is one of the problems with holding stocks overnight. No one can predict news. So swing traders need to control the risk by whatever means necessary such as diversifying, hedging and trading small.
I did not have much luck in the AM. However, there were a few good trades in the afternoon. Some of the readers must have noticed that the site was down the whole afternoon. There was no way for me to post my trades in the entire afternoon. I had to wait for the hubby to come back to fix the server. But it did not affect my trading. Here are the charts of the 3 good ones(PVH,RIMM and BIDU) I took in the afternoon. There were 3 small losers, which were pretty standard cost of trading. As always, I was all short in the afternoon.
Click on the image to have a better view
It was perhaps not too hard to see why shorted PVH and RIMM. BIDU was a bit riskier since it was a strong stock most of the time today. But you can short anythning that moves.
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