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Daily Journal Update 1/17/13: The O.C and Life Lessons

Have you guys ever watched the show “The O.C”? I was pretty much forced by my investor to watch it, and I have to admit it’s probably one of the greatest shows I have ever watched. It’s kinda weird though since its based in cities near where I live and visit quite frequently. It’s also weird how they actually manage to pretty accurately capture the lives of a teen in the O.C (to an extent)! Or maybe to others, what they wish their life was. Either way, it is a great way to kill time.

The $SPY opened up flat only to start up-trending to new 5 year highs while topping out at $148.42 and closing at $148.00 (+0.65%) on the day. $/ES also made new highs and topped out at 1480.50. $BAC blew their earnings report prior to the open and took it down -0.50 (-4.24%) which re-broke the 9 EMA on the daily chart. I may look into a bounce to short tomorrow, but will probably just end up paper trading it. $JPM and $GS remain on a strong uptrend while $C blew it falling back below the EMA. Commodities traded higher again with copper and crude leading the way and the grains lagging. Gold and silver both traded higher. Fun fact of the day is that $EBAY was the best performer in the Internet space. $EBAY reported strong earnings after the close yesterday. Its core auctions business continues to perform well and their PayPal payment service continues to be the growth driver for strong earnings guidance.. but again no one really cares.. at least I don’t. I wasn’t even watching it to be honest, but it’s always good to be in touch with all sides of the market. $FB also traded slightly higher today which was expected in a strong green market. However, it failed to breakout, and I still expect it to fall by next week.

As for bio land, it looks like we pulled back as a whole. $NEPT, $MELA, and $SRPT had a rough day, but presented some opportunities for nice entries if you took them. $PATH won U.S. regulatory approval for the first skin patch to treat migraines today. I plan on playing it with my super secretive strategy tomorrow to make mucho dinero. So join as a premium member if you want to know how not to lose your ass tomorrow while playing it! Even with the $SPY making new highs, I did find that most equities did not follow the ETF. I find this suspicious that most weren’t tracking the market because it is often a sign of a market top, which I believe to be near. Lately I have been changing my focus from less day trading, to more swing trading larger positions. I find that I am often way more profitable by holding a position patiently, rather than taking $150-$300 profits every time I see them. I guess we will see how it works out in the weeks to come. I am very confident in the plays that I am currently in.

One thing I wanted to talk about is how personal life interferes with trading life. I would like it if you guys could comment on this post and let me know if your mood in the real world actually affects your trading perspective (a sentence or even story is fine). I use to think it didn’t, but lately I have been questioning myself. As many of you know, I had a beautiful girl that I was showing off in a lot of my pictures who was my girlfriend at the time. Many of you guys noticed that she quickly vanished from everywhere, and asked me what happened. We were together for almost 5 years, since I was just 12 years old, but recently we developed issues and it came to an end. As you can imagine, she was a pretty big part of my life, and I haven’t been feeling too hot since it happened just last month. Paralleling the event I also faced a potential big loss on $FOLD when I held through the failed Phase III data, along with a string of other unlucky trades. I am beginning to wonder if my personal life has spilt over to affect my trading skill set. Although I have remained profitable, it seems to have become much more difficult.

Now I realize most of you are older, and most probably don’t care.. but I felt that I should still share this piece of advice before I end the entry. You can go around kicking rocks when a relationship gets you down, but that will not get you anywhere. At some point you will realize that you have simply done too much for someone or something, that the only next possible step to do is to stop. Leave them alone. Walk away. It’s not like you are giving up, and it’s not like you shouldn’t try. It’s that you have to draw the line of determination and desperation. What is truly yours would eventually be yours, and what is not, no matter how hard you try, will never be.

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