Sorry for the last post, it didn’t align at all, thanks Vic in Texas for the heads up. It looked fine on my computer but not to the masses. I hate when that happens. I’ll try to tighten it up later. This whole Internet thing is a fad anyway. I traded about 60,000 shares today. My best days seem to be when I trade a much ,much reduced number. That’s when I know I’m “on” and my entries are near perfect. When I trade more it’s because I’m correcting bad entries and getting out of jams. I never get tattooed to badly because my stops are always tight, it took me time to figure that one out. I can be wrong 6 out 10 trades and still print huge loot because of that discipline. Let the winners run and kill the losses immediately. I’ll get into detail on risk and money management soon. It will save your ass 100% of the time.
I was short some Fannie and Freddy early on for small gains and then they gave the microphone to Ben and Paulson and the financials picked it up a bit. I really don’t know what I’ll do when this group does bottom because being short the sector has been an annuity for me. I still believe I have more time though. The fact that the government wants to regulate it, is probably going to be even worse for the financials near term. The government can’t manage a bowel movement let alone the financial sector. I can speak from first hand experience what a travesty the SEC is, when it comes to oversight. Look what its done to ICE the last few days(of course I was short and you heard it here first, sorry for the shameless self love). I did well with LEH short and I was lucky on UYG short on one thrust down. I did get hacked up a bit trying to get too cute with X and CLF short. What worked yesterday didn’t necessarily work today. LEH really does look like the shorts know something, just a feeling. I will try to be back later.