As promised in my last post, here is the mid-week report. You’ll be happy to read that so far I’m ahead this week. Really it’s the first week that I’ve been ahead in, well 6 weeks. So let’s get right to how it played out:
- Monday – Market opened up and settled into a nice up day. Naturally, I’m thinking it would be a good day for a record day. Unfortunately it didn’t play out that way. Thankfully, I was ahead at the end of the day, but not by much. Looking back, it really was a missed opportunity. I traded STX and CVX for even money, CSCO and VZ for small losses and ORCL for a nice gain to offset the losses. Finally, I bought JPM, which was down about .5% at the end of the day so I held it overnight. When it was all done I was only slightly ahead, which I’ll gladly take the way things have been going.
- Tuesday – The market opened mixed and stayed that way most of the day before it turned south at the end of the day. Good thing financial stocks were up most of the day so JPM sold for a nice gain early in the morning. Then I bought C, BAC and CMA, all of which stopped out when the market tanked. Thankfully, I made some money on the deal. Then when the market stayed down I shorted DWDP, which is one of my favorites to short, for a nice gain. At the end of day, it was the best day I’ve had in a long time.
- Wednesday – The market opened down and I thought it was going to stay down. So I shorted GE, another one of my favorites. Then it spiked so I bought back, and that was a big mistake because GE ended up being down over 7%. I’m kicking myself because I shouldn’t have done it. All I can do is shake my head at this point. Then I tried 2 others, TRV and C, both of which turned into small losses when the market turned up in the afternoon. So what could have been a record day was a slightly down day.
I’m done kicking myself because thankfully I’m still ahead for the week. Apart from the GE miss today, I’ve felt good about how this week has gone. I’ve been more confident in executing my strategy and have been more patient in letting the trading opportunities come to me. More importantly I haven’t forced anything. So let’s see how the rest of the week plays out heading into the holiday weekend. I hope you all close out the week strong and have a fun and safe Memorial Day. Finally don’t forget to share and follow me on social media. I’ll see you back here on Monday night.