Tuesday, February 27, 2007

Daily Journal 2/27

If the market is a land lord and my long-term positions are the tenants, all the tenants were evicted just after the market open and the whole building is now almost empty.

Today is a very typical TREND day but the intensity of the sell off was very surprising. In the last few sessions, a daytrader can make some serious money by just fading the gap downs. But today was a different story, my 2 long (RIMM, FMCN) day trades were stopped at a lost.

j in the comment section asked me this:

Why the change to daily and cut back on day trades, it looked as though you were doing well with the day-trades?

Demands of parenting and other priorities took over and so trading has to give in. Also, I'm just a hardcore TREND FOLLOWER at heart so the daily time frame is perfect for a take-it-slow style for now. However, given an opportunity like today, a trader should paunch in to take advantage of the strong intra-day trend plus with most of my long-term positions stoped in the morning, there was good amount of buying power to work with.

Good luck tomorrow and trade well!!!

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