Daily Journal Update 1/15/13
Today a lot of my plays worked out very well and members banked. Some of our winners included $MELA, $FB, $ATHX, $NEPT and a nicceeeeeeeeeee $AAPL trade in my head (if only it wasn’t a paper trade LOL). Everyone is pissed off at the rotten $AAPL tree as it fell through $500 today. My one loss was a swing position that I closed today ($PATH), and of course was 3-4x the size of my normal position size.. so it pretty much was a scratched/slightly positive day. Funny how it seems like your biggest % gainers are the ones that you allocate the least capital to, at least it seems that way to me. $PATH just really irritates me since it was such a perfect set-up but a certain sub service had to ruin it. It is crazy how much these sub-services can move stocks, change sentiment, and fire off stops. We were SO close to blowing that $3.60 top and heading to $4.00. SO much potential, and ended up being such a waste. Anyways, the decision is on Thursday, so good luck the NuPathe bulls.
It was a pretty casual day today with the $SPY having weakness in the early morning, only to reverse and close +.10 (+0.07%) on the day. Retail numbers surprised a lot of people today as they reported strong spending in December. The banks moved higher again, and all but $BAC are trading above the 9 EMA on the daily chart. I’m still waiting patiently to open up a position in any of them. Commodities were mostly higher, with precious metals, grains, copper and natural gas all trading up. Crude oil traded lower on the day. Gold closed just off its highs and closed 0.67% higher and silver traded more than 1% higher. Futures up too, but only 2.00 points to 1467 at the moment. I’ve been thinking about getting into futures since I have a friend who is willing to teach me. I like the idea of having a systematic approach to trading with defined rules, technicals, etc.. it’s so foreign to me since bio-techs are such a shit show (just like $FB today).
Finals are coming up soon in the next couple weeks, or maybe next week. I should probably check into that. I have all A’s so I’m not too worried about it, but it’s always nice to be pre-pared just incase. I also have my last college application due today (LMU), which I am really avoiding right now. College applications are probably one of the most tedious things I have ever done. They are a real bitch.
As for the rest of my day, just gonna head to the gym, then research some more possible plays. A healthy body is important, especially to us traders who are mostly stagnate throughout the day! Without our health, none of this means anything!