Monday, February 8, 2010

taking it slow:

Well, there was a small bounce in HAO but I'm not taking any chances.

I attempted two daytrades and pocketed a grand total of $58.91 -- about the usual take.

 The market is mixed so it's not like there's any strong trend.

 Both trades were buys on strength (news related), both China names I follow (CTFO, HOGS).  The HOGS would have been good but I bought very little and sold it too soon. It moved about .50 from my initial entry which is excellent.

 I did earn over $500 on HOGS in a managed account.  With the market in a downtrend, I feel good being mostly cash now.

 Not having any stop losses in place on the correction was simply... well, that's a mistake I will never repeat again.  All stocks are deadly in a weak market.  And now the weakness is starting to strengthen as the day goes on.

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