Recent lack of good discipline on my end. I've been long two issues I've watched for a while. One whole account is in NFLX, pattern looks nice, up out of flag like consolidation. Bought this last week. I also bought CNO, then broke some rules and added down low. Additionally I bought this all in with 3 accounts. So much for turtle trend trading with risk and size management. I sold CNO today, would have held if it had busted up higher, but todays gains on busted rules were enough for me. My average entry was 5.161, got out 5.32-5.33. With the number of shares I was holding, market shaking that is expected Tuesday could hurt.
Bollinger band comments in last post hinted that perhaps we were near the bottom of the bands with good low risk entry. The next trading day SPY closed 104.32, now above 109! Note to self! With the modest volatility we've had of late, it looks like exiting near high of bands and buying at bottom would have made nice money.
Monday, November 9, 2009
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