Tuesday, September 22, 2009

Trade review for September 22, 2009

I slow day for me as I bought (M) early and immediately knew I made a mistake. I bought at 19.00 when I should have waited for a pullback. 18.60 turned out to be the spot, but because I got in early I wasted my time watching this one when I should have just sold and moved on.

A lot of my swing positions had big days, so I was mainly watching and waiting to see how far they would run.

I made another mistake by not taking profits on my overnight hold on (CYTK). I had .50 cents in the pre-market bought had visions of 5.50, then 6.00, then 6.50. It probably will get there with it's new upgrade and target of $18, the question is when and how far will it pullback?

I missed out on a lot of movers on my watchlist this am including (RINO), (PIR), (RAIL), and (DAN). Such is life, but it felt weird not making many trades and sitting on my hands.

I'm starting to get a feeling that we are going to get sucker punched soon by the bears. I am starting to get out of my long positions this week amd would like to be out of most by Friday. Let's see what tomorrow brings.

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