Stop loss orders!! I have talked many times how important they are and I had them all active, but the one that fired today I had the wrong amount of shares in the order. I sold 90 shares of TQNT @ $11.78 as per the stop loss, but the problem was that left 166 shares not sold. Ugh! Now the going price is $11.45 and I will have to take a larger loss. A pricey lesson, but a lesson I will not soon forget. I will watch the morning market and if I get a push or a lift in price, I will leave my limit order to sell @ $11.78, but if the pre-market price is slipping, I will lick my wounds and sell at whatever the best price is at the time. Damn, Damn, Damn!!
I’m currently out of town and doing all my work late at night and first thing in the morning, so I cannot trade live. I just got to go with what looks good at the moment and use limit and stop orders. I went shopping with the wife the other day and I was watching all the action at the Coach store and just shook my head. It was shoulder to shoulder people shopping and on top of that, there was a hour long line cued for checkout. These people were willing to wait that long just to checkout, the product must be in demand. I decide on the spot to buy some shares of Coach (COH) the next day.
I also jumped back into DECK once it broke out of the bull flag I had drawn @ $84.11. I got in a bit late at $86 with a stop loss order$83.10, just a little room below the breakout. Every stock that I own with the exception of Starbucks went down today. Not surprising to me when you consider that more stocks where down today than up. The S&P500 actually finished 3 point up, but the breadth was negative.
It appears with just 8 day trading days left in the year, that I will finish in the hole after fighting so hard through that awful summer. Learned a lot about shorting during that time, so let’s hope next year I can reverse this years performance.
$120.80 realized profit today. AVG = $25.33 a day. Personal goal = $50 a day. 14 of 22 trading days for December complete.
| YTD | $1173.11 |
| December | $354.57 |
| November | $1885.49 |
| October | $1174.75 |
| Stock | Entry | Price | Stop | Profit | % Gain |
| COH | $58.22 | $57.58 | $55.53 | $26 | 1 |
| CTSH | $64.98 | $72.30 | $68.56 | $256 | 11 |
| CY | $18.14 | $17.93 | $16.87 | $31 | 1 |
| DECK | $86.00 | $86.46 | $83.10 | $13 | .5 |
| LULU | $51.50 | $73.17 | $66.95 | $1083 | 42 |
| NVLS | $33 | $32.54 | $31.65 | $7 | .1 |
| SBUX | $28.53 | $32.93 | $31.66 | $264 | 15 |
| TQNT | $13.08 | $11.45 | $11.78 | $270 | 12 |
| TOTAL | ------------ | ----------- | ---------- | $1282.00 | ---------- |
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