Friday, November 18, 2005
The Dow was up 46 points on heavy volume. Advance/declines were positive. It was a frustrating day. Most of that gain came in the last 15 minutes. A miracle did happen though. GE announced it was selling off one of their units and the stock soared on heavy volume. My options, that I almost sold for a nickel the day before, ended up with a 100% gain. Fluke. And even then is wasn't very good because I left another 30% on the table. But that was sheer luck to be able to even get my money back there. It still doesn't make up for selling the NEM calls but what can ya do? My OEX calls were not a great story either. They took off at the open and I should have just dumped them. I then had to torture myself all day as they fell and moved sideways. They always had a profit but the movement was killing me. I haven't traded the OEX lately and especially on an expiration day. They ended up showing a nice profit but that just isn't good enough. Between 450% and 500%. But I left at least another 120% on the table. Unacceptable. I had held them all day and another half an hour shouldn't have made a difference. It's the difference between an OK trade and a good one. I am disappointed with my actions today even though there were profits. My trading just has to improve. I should have had a gameplan of some sorts. I went in cold and that wasn't good. I also don't even know if I should have done this OEX trade but I went with my gut. Still, the results were lacking. I really need to get back on track. My focus is better but it just doesn't feel as if I'm doing the right things. My discipline is gone and I really need that. I am not happy with todays results. It could have been a really great week. I've blown a lot of opportunities this year. It could have been a banner year. Time to regroup and I think I'll be taking it easy next week, Thanksgiving holiday.
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