Yesterday I had a list of longs but none of them worked out. On the short side MT had a great move. I made some money in it but it was pretty sad. I think I only caught a $1 out of the $9 drop. I also made some money shorting BTU and ACI but again I only caught a small part of the move down.
Looks like a nice double top, stock quickly reaches target.
- 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.