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Monday, June 21, 2004

Market did nothing all day, then dropped 44 points in the last hour. Volume light, advance/declines slightly negative. Gold was down a little as was the XAU and NEM. Kind of a blah monday. Preview of the summer to come? Who knows? Is it tough to stay on the sidelines and wait for a decent set-up? Yes. I guess we could take a look back at the trading so far this year. It is almost the halfway point. And I don't foresee the closeout of any trades before the end of June. I started the year with the blowout losses in the GE trade. This was the trade where my 50 contract order wasn't getting filled at one brokerage so I put in another 50 contract order in at another account I have and was immediately filled. However I did not cancel the order that wasn't getting filled and when I went back to cancel it a minute later, it too was filled. So I had 100 contracts for a position that expired worthless. Oooh, the pain, the pain, as maybe Tatu would have said on Fantasy Island. Sure, I can joke about it now because time has passed but it was torture when it happened. My own fault for being anxious on the trade and it wasn't that good anyway as it turned out. Made a couple of OEX trades in March that didn't work. Was it the aftermath of the horrendous GE trade or just poor trading, I don't know. Finally got it together in April with a couple winning trades followed by another winner in May. Still in negative territory for the year though, however the loss has been more than cut in half. We'll see what the next six months brings. Hopefully I'll make it back to profitability if I can remain focused and not do the usual stupid mistakes. My discipline has been better but that's what blowout losses can do for you. Don't need that lesson again...

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