Wednesday, January 23, 2008

Daily Summary


There was a lot of money to be made in the agricultural stocks today, but I only managed to get a small part. I was watching CNH in the morning and was wondering why it was down so much compared to the other related stocks. I played it long a couple of times but it was tough. I made around $300 but gave back $200. I did not do any earnings research and did not bother to check that it had missed estimates. I guess maybe that's why other AG stocks were pulled down with it. I made money shorting DE, and AG, but covered way early. I did not catch the big reversal on the upside. These AG stocks remind me of the shippers. They have topped out.

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About Me

I have been trading for 5 years. It took close to a year before I became profitable. I find that I am improving gradually each year. My method of choice is scalping. My edge lies in tape reading NYSE stocks and staying on the side of the specialist. That is the method I learned when I started. As I build up my capital I will try new styles and trade new markets. In late 2006 my trading hit a rough patch after the introduction of the NYSE Hybrid system. For most of 2007, I have been on a search for new strategies that would help me adapt to the market.