Paper Day Trades: Did well following my rules this morning, down $.13 right now in my paper day trading. One open position, short BBW @ $4.90, stop at $5.01. It’s at resistance right now and not participating in this rally, no volume – shouldn’t be bad.
Real Swing Trade: Long 10 shares of FAZ @ $35.25, I bought at 10:45am right before it dropped like a $1.50 in five minutes – so much for picking bottoms. My stop is at $29.75 – this would be a $75 loss with commissions. I may liquidate before EOD depending on how things look, or may hold since since its a small position.
Bottom Fishing Portfolio – This $500 buy of 100 positions in 9 stocks ten days ago is now more than doubled and if I sold right now I would clear $500 profit with commissions. Since my biggest winner in this is 100 shares of C at $.99 and many other financial related stocks (AIG, ABK, etc.) – I guess I’m hedged between FAZ and these positions.