Friday, February 29, 2008

A week of royal screwing, for bulls, bears and Wabbit!

Thought last week was really screwy with all the opening gaps were completely reversed, but there is no comparison with this week, as bears were screwed early and bulls got mowed over by the end. I, on the other hand, got drowned in a sea of frustration! I had been really patient for days waiting for the signs of ending of the counter-trend rally, and got a bunch of half-assed signals from Tuesday to Thursday, and before I could put my act together, bulls ran off the cliff today, just like that!

Is this the market or is it because I simply don’t have the balls?

Only managed one trade this week: AMZN—shorted at 67.2 this morning, covered at 64.21 for about 3 points.

Evaluation of my last weekend's weekly trading calls:
I made a total of 16 trading calls on 14 stocks; out of those, 7 winning calls (44%), 2 losing calls (13%), and 6 non-hitters (38%), and 1 near-miss.

What do you all think next week is gonna be like?


Anonymous said...

wabbit: you might not have the steel balls, but the market has been difficult to read for sure!

RazoR said...

I predict the market will gap up, fill, go down, go up, then someone on cnbc will say something to spark a hyper rally, then the market will sell off on subprime worries and once again the market makers couldn't be happier...
last week i made 3.5 pts aapl long, 3 pts aapl sh, 1 pt nvda sh and bought x near the close at 106.8, down 8 plus dow -340 i figured why not...also took some crappy loses the last two weeks, my attitude i to not play the market much when its being silly like this....

flyingwabbit said...

nice trades on AAPL! As for X, I think you will have a chance next week near MA200. The market is just crazy, so your prediction makes good sense!