Mar 13, 2008

WTF?

Did I miss the memo that said to get the hell out of any short positions by 11am or I'll experience massive buying that doesn't correlate to what's going on in the market? Literally all of my gap down stocks whipped up at 11am. Never seen this before... I mean, across the board. Got stopped out on all.

DSX
CMO
WB

Crappy day.

7 comments:

Eyal said...

In the same boat, with no memo facilities. Several R's damage this morning on the shorts. That was one mean trap there. Chalk it down to one of those wacky market action days.

OONR7 said...

yeah... all the knowledge, experience and know-how couldn't foresee that.

Tom T. said...

I hope Friday is saner - what is insane is MW reversing to pre-earnings release action. I know the market was down close to 300 and then ended up in positive territory so that is the best explanation.

Anonymous said...

OO,
your r ight..today your method didn't work
i lost some nice chunk.
then i had to resort to another trick up my sleeve.
This tells you tread the market carefully..there are no guarantees in day trading

anarco said...

To the message above mine:
what trick did you resort to?

OONR7 said...

only thing I can conclude is the the Standard and Poor's subprime statement caused folks to buy the dips. Everything went up. Anon... you're absolutely right, yesterday proved that - as daytraders - the only thing we control is how much money we lose. We could be in the best setup and then get wiped out.

TraderAm said...

spot on 00nr
You don't need to be profitable everyday to be a profitable trader.