End of day journal (1-28-2010)

One of those - 'Arrgggh!!' days.

Change of format to the end of day journal entries: after some thought, I decided that it will be more informative - and easier - to post a screenshot of the current portfolio, filled orders, and account balance; and then comment, ruminate, or prattle on about the day's action and my response. I have a feeling that letting the world know about my piddly positions is not going to have any impact on the future price of the stock, especially given January's spastic record - my strategy ain't so great =).

I can't seem to find anything that I like in Strategydesk with respect to a clear and concise information format, so expect this to keep changing as I continue to search and experiment.

Comments:

As it turns out, I was struck with some sudden inspiration last night and settled on what I think is a reasonable sell strategy. After I completed the analysis, I have some definite profit/loss stops that make sense. This brought a lot of confidence to the day and I was looking forward to see how things would turn out.

The day started off great. I came within $0.09 on one sale, the TKTM to LYV translation showed up in the account balance, and all of the other positions were posting positive. SANM went high enough to finish yesterday's pending sale. Then the market tanked. LPSN actually hit the stop loss point for the day's low but I didn't sell. Not sure exactly why... I couldn't shake the feeling that the general market momentum was dragging this one down. Regardless, I didn't stick to the new rule already.

I rode everything down, and it was a gut wrenching slide. I feel like I need to address the general market trends and get out when things are going downhill. I think I have said this before, but I am not at all sure about how to incorporate this into my strategy. The 10 minute BEAV and LPSN are almost replicas of the NASDAQ Comp 10 minute. Or - dare I even suggest this - should I go back to an intraday strategy? I only lost on one intraday this month out of about 7 trades maybe. Food for thought. Let's see how tomorrow works out.