EDGE TRADER

Wednesday, May 24, 2006

Strategy change

I'm looking at 2 strategies right now - day trading in the money put options with an entry around 1-1:30 pm on intraday highflyers near their session high, and an exit around 3:30-3:45. The other is a buy the close and sell the open for stocks seeing a blistering exit by traders at the end of the day. Hope your day is going well.

Tuesday, May 23, 2006

Cash

Cash is king right now for me. Haven't posted for a while. I went through a superstitious phase where whenever I didn't post I had a profitable day, hence no posts. Well, I am back to cash today once again, after riding this downdraft in cash. So nothing is preventing me from posting. I wish I could say I cashed out earlier than I did, but it was soon enough that I limited the damage done. I bought the market on Monday afternoon and re-sold it again today. For the 2nd straight day, my portfolio is worth more than it was the day before, and that is saying something considering I haven't shorted a share yet this month.

I am not a fan of leverage (which limits both my returns and my downdrafts). So I most likely won'tbe shorting regularly, but the market tone appears to have changed, and as such strategies need to change with it.