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Friday, July 27, 2012

Utterly Disgusted With My Luck In Stock Market

Not going to make this into a ranting and whining session, just laying out the facts. Aside from picking Fly's losers and missing out the winners, and not able to participate TraderFlorida's elusive timing on AAPL, my own swing trades haven't been working either.  $BPCOMPQ has been on sell signal for the past 5 days, and for once I told myself I am going to take it religiously, especially with Buydonthold.com also flashing sell signal at the same time.  Even Fly is hedging his longs with VXX.  So I accumulated SDS -- bear ETF on SPY.

Yet, the market loved to fade me.  SPY moved up over 4% today!!

While my long time social networking losers took their post earning plunges in the the past 2 days,  to the tune of (-40%) for ZNGA and for FB, (-12%) on top of the (-8.5%) sympathy drop on ZNGA's disappointment a day earlier.

And for FB, (-12%) on top of the (-8.5%) sympathy drop on ZNGA's disappointment a day earlier.

Missing bandwagons, taking profits too early, holding on to losers, stopped out at low of day, big loser positions, tiny wind fall positions, and market rallying while your position suffer.  One would never be happy in stock market. Even the legendary Jesse Livermore bankrupted a couple of times, got tired of fighting the market, and ended up killing himself.  Enough is enough.

Sunday, July 22, 2012

These Are Trying Times

I am not talking about the recession, the European debt crisis, or the massacre 2 nights ago at the Dark Knight premier in Colorado.  I am talking about my own personal life.  It is amazing how my world has been crumbling down within just the last 10 days.

10 days ago, my father had colonoscopy and is being scheduled for surgery.

My mother had her colonoscopy a week later on Wednesday, and had already had surgery in the ER and is being hospitalized.

I've been negotiating salary on a new position. On Thursday I received a phone call which outright turned down my request, not even meeting me somewhere in the middle.

Even for small things I've been having bad breaks.  On Friday my car had the annual state inspection done at Firestone, all was fine except for a bad braking light.  I wanted to change the light bulb myself, but the service rep threatened that I'd be assessed a $12 re-inspection fee.  So I paid $15 to have the little bulb put in.  I found out a few hours later that for obvious checks such as braking light, there should be no re-inspection fees if done within 5 to 30 days in just about all garages, including Firestone.  The dishonesty was depressing.

Just yesterday (Saturday), I received a letter from one of my banks notifying a $20 service charge for a failed deposit.  The reason indicated was "unable to locate account".  I subsequently found out that the account number on my own check from another bank was misprinted.  An 8 was misprinted as 3.  How often does thing like this happen, and one top of my bad breaks?!

My church is breaking down also.  The pastor has been financially abusive, disputing with the board, and has gone on an unannounced, 6 week vacation overseas.

Trading isn't helping either. I am more and more convinced that the stock market may be the one place where God and Satan stand on the same side.  Especially in light of everything else that had happened,  I am taking an indefinite break on day-trading.

Tuesday, July 10, 2012

Can't Get Excited About AAPL

Despite all systems are flashing buy signals, and TraderFlorida is once again long on AAPL, I just can't bring myself to pull a long position.  The AAPL daily chart is against the 76.4 Fib retracement and the ascending channel.

But that's not reason to be bearish at all.  What really troubles me is the 60 minute chart.  Prices retreated and then broke into new highs, and yet the MACD went flat-line, no response whatsoever despite high volume.  No, I am not shorting and being crazy enough to trade against TraderFlorida.  I'm watching and learning.

UPDATE:  Here is how AAPL ended the day.  So this time I was right.  See To Follow Or Not To Follow, this time I'd be better served to tune out even the "noise" from TraderFlorida.  But bottom line remains: what's the odds that I am right?