Tuesday, January 4, 2011


Attempted a few daytrades to no avail.  The market was very weak and I did not pick up it fast enough as the open slipped quickly to red.

A trade in TSL was entered too early -- and it was 2 cents from stop out but I managed to exit for slight gain.  SKX was traded twice - ended up losing $20 overall.

When the market is weak... it pays to be very patient.  Two positions were stopped out as well.  I guess that's how it goes.  I decided to bottomfish WDC and that worked for managed account.

I should have focused on obvious runner SHZ or MCP -- the vol. was strong and both had big runs after setting up.  I do not like the names but that's just me being judgemental.  The market likes what it likes.  And there's a reason drek rises.  Value names SKX and WDC were punished.  It's not a just market... it's just doing what it does.  For a  daytrade, MCP was strong and SKX was weak.  That's all you can say.  Whether you accept it or not, this is what is.    I did fortunately sell one position on the gap up so I had some gains for the day but paper losses overall.

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