Tuesday, June 1, 2010

market breaks

after being up intraday -- market sinks to lows on heavy -$tick readings...

 key indicators:  terrible   adv/dec. ratio --  oil/oih sector decimated all day...

  lost money trying to fight an obvious trend.  

  would have done better to do nothing until afternoon when trend resolved to downside.  I shorted 3 times -- but did not hold on.  

  sellers swamped all buyers.  

    Trade in direction of general trend.  Brief green markets were opportunities to short all rallies now.   Leadership names AAPL and GS were all alone (GS faded to red) -- so market had nothing to support cascade.

  Poor job managing risk.   All losers hit stops, all winners -- sold too early