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Trades – 6/14/10 | MadDog's Trading House

Trades – 6/14/10

Trade #1 (6/14/10)
Stock Traded: AAPL (Apple Inc.)
Buy/Short: Buy
Shares: 175
Buy Price: $256.39
Sell Price: $256.92
Gross Profit (Loss): $92.75
Commissions-Expenses: ($2.87)
Net Profit (Loss): $89.88

Premise: An attempt to catch a coil reversal long after a significant range pullback. Up until this point, the overall market’s (and AAPL’s) move was primarily bullish, and this was an attempt to ride a reversal as long as possible into the close, assuming the bullish trend resumed.

Buy

Sell

Conclusion: Unfortunately, the bullish trend did not resume except for a couple of small coil attempts. Negative news related to the euro continued to weaken the overall market, and AAPL had a difficult time maintaining any coil reversal attempts. Once again, because I’m in a situation of normally not having the luxury of being able to make even a few trades per day right now, I have to really try to pick the one intraday spot where I think I can get a relatively long ride out of one trade. If the premise fails, I have to either take the scalp as best as I can, or stop out if the premise completely fails, and wait for the following day or later. This trade actually went a bit negative before having a good second surge, but there was never any real danger beyond a minor negative stop. In this case, the scalp was handled pretty well. In “normal” scalp mode (where I would be paring out with profit cushions and possibly exiting out completely with relatively small scalps and looking for re-entry points), I would have been pleased with this trade. In my current environment, I was displeased that the overall premise failed since any intraday swing possibility was squashed and my one allocated trade was done, I was still pleased with how I managed it.

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