$FB, $TWTR and $C Shorten Week

$FB
It looks like I was a week early on my $FB trade from last week as the MM's kept it from failing support until a new week. Yesterday, it finally broke below the support and took a great 4% fall at the lowest of the day. It recovered a bit as it bounced off the lower rail of the descending wedge but still below the triple tested support around 45.70ish. Trading about average daily volume, I think we will see that pick up if it continues to sink lower.  The interesting thing to note is that the rest of the social media group sold off with it. That is important to set an overall trend.  The 100d sma will be key for the next support area.

$TWTR 

As stated above, the whole social media group fell yesterday, including $TWTR.  There isn't much to go on since it only has about two weeks of trading under its belt, but the weakness trend is pretty prevalent.  40 has been a mental support area for now and as it broke that level today, the selling accelerated. We should see this one get close to it's pre IPO price before it comes back to the mid 40s.   

$C

Inverse to the social media and tech group, financials were positive yesterday. $C broke out of its wedge on Friday last week and today followed through to long term resistance levels. 53.30 creates a new support level and with above average volume, should hold that level. As more volume comes in, I will be looking for a break about 54.56.  Be careful of over bought levels on the RSI. It hasn't held above 70 for more then a few days. But a break above the 54.56 resistance could cause an extended stay in the level.

Remember, the market is closed Thursday so we are working with a shortened week. The day after Thanksgiving has generally been weak.

Happy Trading and Happy Thanksgiving.

AAPL and FB

Coming off of last week, I did a post or two about $FB and $LNG. I was fairly bullish on $FB. It failed to break out of the falling wedge and today, it is reacting very negative to that.  Here are some of my thoughts.

After hitting the top rail of the wedge, we are seeing a big sell off. The indexes are hitting record highs, and those pesky round numbers.  The $SPX isn't quite sure what to do with 1800 right now and is wavering back and forth around it. Personally, this lack of conviction is a bearish signal to me. I think it will eventually succumb to the sellers and take the slight dip everyone wants to happen.  And $FB will go with it.  I am looking for it to head back down to the lower rail. Maybe hitting some support at 45.6.  That would be a good spot to take some off. If it falls lower, the bottom rail would be the cover.

$AAPL
I didn't watch much of this last week because, quite frankly, it was boring.  It didnt move much and consolidating after breaking above the top rail of the falling wedge.  I think it is going to want to back-test to that rail again. If it holdsabout 519.50 with volume conviction, then it might be a good place to add some long. Otherwise, if it breaks back into the wedge, support will be broken and I would play a short via puts down to $500/ 50d sma.

All this considered is dependent on how the indexes handle these new highs.  A short dip would give a good chance to get long these names at their supports.

Happy Trading!

$FB rally through Opex

$FB

I did a post early in the pre-market about $LNG but I wanted to touch on some points and thoughts on $FB going forward past today's monthly options expiration.

For the last few weeks, it has been working on a nice declining wedge coming out of a nice run up since the gap in July. I am watching for a pop above the top line of the wedge which happens to also coincide with the 50d sma and the 18d sma, which I like to reference for short term plays.  I think a convergence of all these points can really give some support for a nice bounce.  As long as volume follows through above average, there is a lot of room to run.  If we get a Friday rally today, I am targeting 51.50. The only obstacle is the options expiration and with 80,000 options contracts at the 50 strike, that will be hard to not pin.

Happy Trading.

$LNG breakout

Hey everyone.

Been watching the action this week without a lot of positions. Yesterday was spent waiting to see where $LNG goes.  I have been in this name since the mid 20's and riding it the whole way. This is a very long position for me since it is my main energy play.

I watch yesterday for a break about the long consolidation channel it had been basing the last few weeks.  We closed above the resistance of 40.85 yesterday and it looks like in the PM we are getting that pop. I got in for more right at the close about the resistance. Going to watch to see if it can hold this pop. Lot's of breakouts have been turned away but the key is to hold about that breakout resistance with volume coming in.

Happy Trading!

$T and $SBUX

Yesterdays post involving $LNKD is not panning out quite yet. The momentum seems to be up right now but I still am watching for a retest of the 213 dip. I decided to let this trade simmer on the back burner and focus on two other names; $T and $SBUX

$T
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Since earnings, the name has had a good run up. Broke above the 36 area and even started to consolidate. It was a little too choppy for me to be a setup for higher prices but I watched for a break back below 36 for a short attempt. I got in today in a few 36.5 strike puts for .58c.  We got the break below 36 as I am writing this, with a little bounce. But so far I am up 20%. If 36 doesn't get reclaimed by 3pm, I think we see people dump into the close.  That earnings gap is just calling its name and I will use that as a target.

$SBUX
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This is a fun one because it just doesn't seem to go down. And as it claims new all time highs today, I took on a few calls to take advantage of last minute hop-ons if it breaks into those highs.  And as I write, the runners are running. I am holding 83 strike call weeklies bought at .13c.  At .26c right now, I am up 100%

I'll be watching both positions into the close.  As well as $LNKD, which I think will give back most of today and head lower the rest of the week.

Happy Trading

Why $LNKD will fall more

$LNKD

Been an interesting day for $LNKD today. After opening lower and then bouncing to daily highs, it showed as if it were going to give it all back on a reversal. But alas, the roller coaster continued and it tested the HOD once more.  As I write this, it is slightly retreating again. But don't let this suck you into buying. The chart today looks good for a bounce today, but that is all I think it is.  If you pull your charts out further, you will see that it is trading below the longer tern lower trend like. Plus, it broke the 100d sma and is now hitting up against it as a resistance. She can't get back into the up trend and should take some lower numbers out first.

Target is roughly $203

Hard to see because the lower trend line almost follows the 100d sma. The two are working together right now as a resistance.

You can see a bit better here that it is below the trend line. Also forming a little bear flag an if it breaks this, it should be quick down to $215 area.

Happy Trading

Flash Crash..or whatever you want to call it.

Been a very interesting day so far.  Came into this week trading two names.  Calls in $AAPL and puts in $FB. I had weeklies in both and my plan was holding up pretty well. With that said, whatever that big sell off was, happened.  I was stopped out of my $AAPL trade and I took profit on $FB when it filled the gap. But something about this sell-off didn't sit right. With an $AAPL event today, these levels seemed too low. Like a gift on Christmas Eve. "Buy me now because after the event, I'll be back where I should be," it said to me. So I grabbed up some weekly 530 calls and sitting tight.

I kinda got the same feeling on $FB as well. It came down and filled the gap a lot faster then it should have. And it bounced just like a stock does when it drops too fast. I managed to get some cheap 54 calls on this name as well.  I was only playing $FB short this week because I thought it needed to digest that big up move. Since it did that rather rapidly, I was back in long, testing an earnings run into next week.

How I am playing this:  Both names have dropped out of the trading range on the 60 minute chart.  I am going to play these long back into the range.  I think $AAPL can even break out above if the event goes well.  If not, I cover back down to the gap fill...or... if they make it back into range, I stop out on another break below it.

Good luck out there. Panic never made anyone money.

$AAPL and the debt ceiling

Just wanted to put up a quick post this morning as I am watching $AAPL after a great close on Friday. Pre-Market is down about 1% after a weekend of people relaxing and over thinking things. Yes, it's another day of a government shutdown. Yes, there is still no debt ceiling resolution. But we all know these politicians love to hold out until the last possible moment.

That is why I was looking for a quick rally and gap fill right out of the gate from $AAPL. And got it. The Pre-Market drop didn't seem warranted given the lack of change or information over the weekend. And with this strong open, I am going to be looking for a break about $495, which is the top of my wedge. After that, any positive news out of the debt ceiling talks will drive $AAPL over $500, as well as rally most of the market.

Happy Trading.

Never Forget

The title of this post has been a slogan for the tragedy of 9/11 since the the day the attack on the World Trade center occurred. And they are words to live by beyond the remembrance of the thousand of people who never made it home that day. As I take my own moments of silence, not only to remember those people and heroes, but as a reflection on where I have come since then.  I was not in NYC at the time but in Boston. I felt like I was right there with the rest of the country. Looking back, I have had a good life since that day. Graduated college, lived in 4 different states, a nice career, married, had kids and begun my journey in this thing we call the stock market. And everyday, through the frustrations, the hard lessons learned and the victories... I remember what makes all this possible. Those people that put the lives of others ahead of themselves, from the first responders and the soldiers that went to war. To the people that were trapped and helped others ahead of themselves.  I definitely remember and I will never forget.

It is a tough day to be trading out there but in the sake of moving forward, here are some of my thoughts, plans and positions today.

FB

One of the names that loves to be hated. I am watching this travel up the raising channel.  Playing the bounce off that lower trend line. Hit it perfectly yesterday and now coming right off it. I am not worried about the "over bough" indicator it has been at since earnings. Clearly this is an example of a stock that over bough and will stay over bough as long as it wants to.  I initiated call options at the 43.50 strike. Looking for a retest of the highs this week for my target. Without volume on a break out, I will cover.
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BBRY

This one is a tough nut to crack since it is so volatile and hinges on the random tweet or speculative headline. But I like the wedge it is trading in and will watch it off the bottom trend line.  It has moved up and then back down a lot in a little amount of time. Strictly playing this on the whipsaw movement it is know for.
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AAPL

Dropping like a rock. Only be a matter of time until Icahn gets on the horn but until then, this is dropping like a rock. Not chasing right now but it is holding at th/e 200d and 50d sma intersection. If it breaks that, I am looking for the target to be at the pivot point from 8/9/13. Although I love the name, until it shows signs of innovation, it is screwed.

Happy trading

Happy Labor Day

What an interesting week we just had. Looked like stocks were going to continue their climb until fear from the Syrian conflict gave some longs a wake up call for a day. But just like every other sell of this year, it was just a nice buying opportunity. The threat of military action couldn't have been telegraphed any better for the markets. Once the initial fear and shock was over, equities continued their climb into new highs for some and just an overall run up for others.

The Labor Day weekend ends a week and a half long travel vacation for me. I have been a lot less active yet still following my favorite names and starting to look at positions for next week. Be weary though, markets are closed on Monday so we have a shortened trading week. Not ideal for weekly options.  Here is what I am watching and trading plans.

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LNKD

This name has been consolidation about its break out from the 1st of August. With volume coming down below average and price trading at the top of the range, I think this name is poised for a break out on a nice volume day. Above $244 on more then 2 million daily average volume would be my entry.

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FB

I am watching this name purely on momentum.  I traded this one successfully last week based on the support at $40. It held and has continued to go higher since the sell off on Tuesday and even continues higher in the Pre Market today. High volume in the 42 call strike price had peaked my interest for more upside into next week.  I initialed calls at the strike price for .66 a contract.

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AAPL

This has been a nice trade to the upside the last few weeks. But since the close below $500, I think it will be a tough one to get back above. With an announcement looming, I don't see much to get it above $500. A fall out of this wedge as well as a small bear flag the last week could see lower prices before the actual release of the new iPhone. I am always careful though with this name because it can move fast against you before you even realize it.

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I am looking forward to the start of the fall trading season. Next week should see some increased volume with more players coming back from summer hiatus. Although I am not expecting much of an increase since it seems many of the players stuck around for the summer rally. Happy Labor Day everyone and happy trading.

$GOOG support and rally

Last week I was posting about $GOOG and it's drop below the lower raising support line. The trade worked well into the end of the week. But this week, it is finding support at the 100s sma.  I am now looking at a trade higher off that line as the markets come back from the last few days of sell off.

After a few days below the 100d sma, it has found some strength the last two days to stay about the line. Today looks like a consolidation day as bulls and bears fight it out and we close right in the middle of the days action.  A strong market today will only give fuel to rally through the rest of the weak. 

Happy Trading.

$GOOG and $LNKD

Pretty nasty day out there today. Indexes taking a big hit and not a lot of names holding on.

I want to continue to talk about $GOOG and it's continuing movement in our plan. As my previous post on Monday, Is More Correction In Store?, we have hit the first target of $861. Actually, it has been holding there all day so far. The $861 target support is pretty strong. But I am holding steady on this plan.  If it breaks this support, I am looking for $844 - $845 as the next target.

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If this sell off today is the start of a greater correction, I am looking at some names that might be good shorts or Put opportunities.  One that jumped out is $LNKD

After a great earnings pop, the name has consolidated in the $230 - $240 area. This would be something I would be looking at for a break out higher normally. But given today's action and the weakness we have seen overall in the last few days, a break below this box could lead to a gap fill. Today is averaging higher than average volume and if another day follows through to the down side, it could get ugly here.  Looking for a break and close below $228

Happy Trading!

$GOOG follow-Up

Looking back at my post from $GOOG yesterday, the drop below the lower raising trend line held and now today, we are seeing the sell off. Still have a target of the 100d SMA for right now.  Course is continuing in the direction we planned with no reason to stop.  With the day averaging 3.5m shares traded, everything looks good for the drop.

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I wanted to comment back on $AAPL today since yesterday I was weary about the premarket pop. I was looking for a fade at the open but clearly we did not see this. This is one of those situations where when things don't go as you planned, it is time to re-evaluate your plan. Yesterday was a strong day for $AAPL and today is just a nice follow through.  As long as the 200d SMA holds and the RSI doesn't push above 70, $AAPL finally has the strength to keep moving up. A move in the next few weeks to fill the gap from January is completely possible given the price movement. I would like to see some more volume come in on the move up though, if it is going make it to $500.

Happy Trading!

Is more correction in store?

Last week we saw some pretty good selling. Momentum may have the same fate in store for this week. 1700 was the line in the sand for the S&P and it turned back pretty hard. I am going to take the time this morning and take a look at $GOOG

$GOOG has had a long run up from September of last year when it bounced off the 200d SMA.  A few pull back but at this point it has been oscillating over and under 900 for a few months now. Over, under, over, under. Looking at a shorter frame chart of 150 days, I am watching a break below this lower rising channel line. A retest of the 100d sma and the breakout level from 5/6/13 of $844 would be the first target. If the market overall keeps selling off, then I think it can test the support at $761.  If it holds instead and rallies back above the 50d sma, then it can easily be back in the 900's again. An easy trade back and forth.

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Just a side note with $AAPL announcing a new iphone release. I think my wife's reaction to this news (a phone customer from the beginning and not an investor) sums it all up. "Yeah, it's about that time."  News that even the everyday customer already knows will happen and expects is not really news at all. Watch for a quick fade off this mornings gap up.

Happy Trading!

Financials Rally

It's the start of another week here and taking a fresh look at different sector. Last week only one name I looked out worked out. $LNKD in was a name that I was looking at to continue higher after it's breakout before it's earnings call. Remember, we were very cautious because it was an earnings week for the name but given the success of $FB and $LNKD, it worked out well.

I also was looking for $NFLX to sell off. That didn't happen last week but the chart is holding flat so I am rolling my thesis over till this week. You can review my thoughts last week on my previous post $NFLX Bear Case

But this week I am noticing a lot of financial names are bumping right up against new highs. So far this year, the market has just kept going up against all odds. We have seen slight pullbacks but nothing to scare bulls out to the sidelines. So if this all keeps up, the push of these names into new highs can be a launching pad. I am watching volume at these highs to see if there are buyers backing it up.
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C

Bull flag with a breakout to hit the highs. It was turned away at the end of the week and volume is moving lower.  Watch for a breakout over 53.50 on volume.
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GS

Bull flag as you will see with all these financial names. Moving out of the flag back to the highs. Watch for volume over 168.25
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JPM

56.95 is the target to break here on volume as well. You can see the pattern of flagging and breakouts.  I want to see volume over 17 million on the day.
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MS

Over 28 would be the entry point. Another flag that has broken out. Volume is weak here but if buyers come in and the market follows, higher prices can follow. 

What to look for is all these names to raise.  If they can't make these new highs, they will drop back into the flags and possible start breaking down. They have already retested the highs twice so another fail to take new highs will probably cause some weakness. 

Happy Trading.

$NFLX Bear Case

There were a few names I was looking at going into this week and so far, $NFLX seems to be the only one following my plan. I wanted to take a minute and explore my case for more downside.

$NFLX has gone on quite the run recently and now it is showing signs of coming back down. The last week or so has really developed a pretty good Bear Flag wedge. With volume weakening into the flag, I am looking for a drop out within this week or next. The bottom of the rising channel is hitting almost perfectly with the 50d SMA and the resistance from 5/28 and 6/19. If this works out, that will be my target. If volume keeps coming in, I will be looking for a break for much lower prices. Maybe even a retest of the previous earnings breakout.

Happy Trading.

Half and Half

Here we are again. Coming out of another week of earnings and it looks like lots of names still want to just keep going up. Tonight I am looking at $AMZN, $LNKD, $GOOG and $NFLX

Although the market keeps going up against all odds, I still am looking at these 4 split, 2 long and 2 short.

First let's look at $AMZN

Friday, this name zoomed up well over 2%, over 309.50 resistance and into all time highs. All this and still with tiny margins and no actual profit to speak out. But $AMZN continues to trade as if it is going to be making more money than any other company any day now.  I am not going to be chasing this one out of the gate but if it dips to the breakout support, I would definitely be adding.

$GOOG

This name is hitting what I think it a long term up-trend line. After selling off after earnings and not being able to fully recover, I am watching this line for a break and a possible short.  100d SMA would be a target although I think it could go lower to the previous hammer low from 6/6 16 at 847.00

$LNKD

This name I am looking at only because it is breaking out to new highs. Volume is up in the breakout but not as much as I would like to see. I am very hesitant with earnings coming out on the 1st of August. I will probably avoid it until earning are out but it is definitely tempting.

$NFLX

Strong name that is not an easy one to short but I am watching the break below the previous break of 248.00. Volume was pretty huge on the way down and I am looking for a target at the 50D SMA or the lower upward trend line. I wouldn't stick with it too long given its previous strength and volatility.

Happy Trading

Never hold into earnings! Never hold into earnings! Never hold into earnings!

Never hold into earnings. Never hold into earnings. Never hold into earnings.

I wanted to put some thoughts out there today in the midst of $AAPLs earnings beat, $FB huge upside surprise and a few others that are screaming out of the gate after their announcements. One of the hardest thing I still struggle with is stepping aside through earnings. The glitz and glamour of potential huge returns draws me in every time. Only to have the curtain pulled away and then shot back down to earth.  It's tough to see these huge gains and not be part of it. $FB up over 20%, $BIDU over 16%, $TRIP over 14%... I am definitely a gambling man. I love Vegas, I can sit at a blackjack table for 15 hours. But this is a gamble that the house has the best odds. $AAPL suckered me in again as it did last quarter. Never again.

I am looking into a tattoo that screams, "Never hold into earnings!"

Moving on though, I still am keeping trades on via puts in $BBRY (rolled from last week) It still looks weak to me but is very stubborn. But the stubbornness that is keeping it from testing the $8.45 pivot is also keeping it from popping passed $9. I think until the company has a catalyst (a decent new product,) gravity will win out.

Also started for a quick trade via puts in $NFLX. The chart looks like it needs a rest. I added puts with a drop below the $248ish previous pivot/breakout. A test of the 50d sma is my target.

Not only has it broken previous breakout levels but it has done so on higher volume. Still, this is just a quick trade. Unless it keeps moving lower, I will cover above $248

Keeping an eye on $MNKD. Possible news in the fall and it is working on a decent wedge setup. Alerts for over $7.50

Happy Trading.

Social Media and Phones

Looking forward this week, I was eye $LNKD all last week.  Even took a hack at it but it wasn't ready to go. I got stopped out on the big drop on 7/16/13. That was fine because I I followed my plan and closed out before more possible losses. But after seeing where it went for the rest of the week, I am watching for another attempt at a break out.

I am watching a break out over the New High resistance line. It attempted this on the 18th on well above average volume. It couldn't follow through the following day but the weakness in the indexes that day held a lot of positive stocks down. The price is safely in the rising channel supporting more positive prices.

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The other one I am watching is $BBRY to the short side.  After the major breakdown after earning, this stock has shown very little strength. I have been watching it all week as it has traded pennies back and forth holding 9.20.  Finally on Friday, it broke the support with strength and volume. I have an 8.45 target on the immediate timeframe. As you can see, the RSI have been below 30 since the 1st of the month. Just goes to show you that a stock oversold can stay oversold. I think that a drop to the support of 8.45/.50 would be a good point for some relief and finally take it out of oversold and recharge.

Happy trading in the coming week.

CMG - Everyone loves fast food

Well it seems that everyone loves fast food. And it seems they think people will be eating more of it over this 4th of July holiday. I don't want to dwell on missed opportunities too much but I am putting this up for my own sanity and education. I watched CMG move about the descending triangle yesterday and thought about adding a call position on this. Coulda, shoulda, woulda.  Ultimately I felt that the volume wasn't large enough and given the short week, didn't think the players would be around to follow this through.

Here is the chart from today. Volume is coming in much higher today than yesterday and the price is following through.  Also breaking about May highs. I may have missed this break out but if it can hold about the May highs by the end of the week, I still think it has room to move in the coming weeks as well.

Have a safe holiday.

Moving On

I started writing in the blog for myself. I didn't post anything for the public to view. I think it is time to move on from that and start using it less as a tool to vent and complain and more of a tool to study and plan. I will try and do my research and post up the ideas and thought I have on specific stocks. I am an options trader so I will mostly only look at the big names. The names that can more $5, $10, $15 in a day frequently. The names the most everyday not in the stock market people know. For right now, I am looking at $AAPL.

The Setup

I like the double bottom in the 380's It didn't quite hit the same low, but given where it has come from, I think it got close enough. The strong close on Friday 6/28/13 on above average volume makes me think we can play this one for a run up to at least resistance at 420ish.

Given that we are on a holiday week and volume is going to be low, I don't expect large moves but some low volume continuous drifting up as the big players are at the beach this week. If for some reason the resistance breaks, I would be selling more at about 427, the top edge of the descending trend line.

I will be watching others like $LNKD and possibly a quick trade on a $BBRY short if it doesn't bounce today.

CURRENT POSITION
$AAPL weekly $400 calls. Bought at 2.80. Break ever at $402.80. Target profit 17.20 a contract. 614% profit.

No Pain, No Gain

My father is going through a relatively painful surgery procedure in order to fix a problem in his knees before he can no longer walk again.  He successfully finished the surgery on one knee and is now going through physical training post surgery.  It is very difficult and very painful.  But I just texted him a cliche that made me think.  It made me think about what I am going through right now in my trading.

No Pain, No Gain.

If there is any truth to this cliche, then the enormous pain I am going through right now should net monstrous gains in the long run.  No pain, no gain. Right?

Rules Were Meant To Be Broken

I know. Probably the worst thing I could do as a trader... not follow my rules.  I try though. I really do.  Plus, I don't know if the "rules" I make are necessarily good ones.

I have been getting hammered by $LULU both ways.  Up and down.  It keeps looking like it should retest a support but then does the opposite. Finally getting caught on the wrong side of a Friday rally when I really needed it to drop before expiration.  Starting to think this whole MM and pinning thing isn't just people whining about losing.  So after the 3rd bad trade in a row on $LULU, I told myself I was never going to trade it again. I even tweeted, "Officially on my do not trade list."  Well what did I do in the next 20 minutes? Took on a Put trade when it hit the 200d sma and retreated.  My theory is that it won't break the resistance and then finally trade down to the support levels I originally thought it should have.

So I broke a rule. But in my own defense, I think it was a stupid rule to begin with.

The One Where I Start

2/7/2013

It's been just under a year since I started trading hardcore.  And I am ready to tear my hair out.

Let me start with saying that I had an unfortunately fortunate beginning.  I say unfortunately fortunate because it was something incredible good which caused something bad in the long run.  My first foray into options (my vehicle of choice on my path to riches) was buying puts on $AAPL.  Crazy right? My first step was shorting the biggest name in the market.  Well, this step netted me just over $20,000 in profit in just about a week.  This was amazing! My head was spinning! I called my wife, we booked vacations, paid off credit cards.  I thought, "wow, this really is going to be easy."  THAT was my unfortunate part.  As I will later read in a blog by Brian Lund, bclund.com, one of the worst things to happen to a new trader is making hugely profitable trade.  My confidence levels were off the charts. I thought, "hey, I could do this every day."  And even my second trade, puts in $LULU, made me a few grand more.

But then reality hit.  I didn't manage the profits, spent way too much on options I didn't know enough about and soon, I was scrapping by making trades with a few hundred at a time.  1 option here, 2 options there.  Back and forth.  I fondly remember $PCLN tearing me a new one over multiple trades.  I was sick to my stomach.

I guess I didn't learn anything, because here I am again, scrapping the bottom. Where did I go wrong?  This is what I am here on this blog for.  To write about what I did right and what I did wrong.

Ever since the new year when I guessed the outcome of the fiscal cliff entirely wrong, it has been down hill.  This week was the last straw which lead me to start this blog.  I just can't get the direction of $AMZN and $LULU right.  I lose one way, flop the trade and lose the other way.  3 $AMZN trades and all but one for losses.  The only one that isn't for a lose, is my current put in $AMZN.  But the week isn't over yet.  $LULU has been osculating up and down, when it should be going down if the technicals were right.  But I actually held this one through a pop on Wednesday and didn't cut my losses.  It is dropping today so I have a little hope for it go positive.  But just like it keeps doing to me, it gets close to where I want it and then pops the other way.  Just out of reach.  I really need to stop hoping.  It's what I read and hear all the time.

As I am writing this, both my positions, which had sold off in my favor, has been gaining back ALL.DAY.LONG.  Seemingly, I just can't win.  The indexes are in the trash yet my shorts are gaining strength up.  We'll see if they are just playing with me and will sell back off.  Right now, I just want to scream as long as I can.  Bad day and probably broke another rule chasing $AAPL at the EOD.

Lessons I think I can take away from this week.

1. Don't flip flop trades.  If it isn't going my direction, don't sell and buy the opposite.  That's just when it will reverse again and screw me twice.
2. They rally the stock to sucker you in, then they pull the rug out from underneath you.

Maybe Friday will be special..... but I doubt it.

-J

The beginning

First, I'm not a full time trader. I never went to school for finance, stock markets or economics.  I literally have zero professional training in this field.  Yet here I am, spending thousands of dollars trying to make it work.  Thousands of dollars daily, weekly, by the hour.  I make money then it all goes away. I struggle and borrow and move funds around.  It's frustrating, highly emotional and dragging me to the ends of my patience.

Something isn't working. Maybe if I start writing my thoughts and ideas down, something will click.  All I know is I can't keep going like this or there will be nothing left to work with.

Let me start with why I am trading at all.  It would seem strange that someone who has always been constantly employed, an expert with my skill set, making over 120k a year would want to do something else entirely different to make money.  Well it is crazy. But the bottom line is I hate what I do.  I'm a television video editor and I am good at it.  People love me doing it, but I cringe every time I think about starting a new gig or coming back into work the next day.  And let's face it, 120k outside of NYC for a family of 4 just doesn't cut it.  It's a constant feeling of inadequacy.  Working day in and day out only to continue to struggle.  Answering to bosses who have no clue what you do yet for some reason think they know best about everything you do.  Getting low balled for pay. Being told "there just isn't enough in the budget" to pay you what you should really be getting.  I am sick of it and I want to tell them all to go to hell.  But I can't because of that family of 4 with a mortgage I need to worry about.

In comes the stock market.  The magical stock market. Where a person can take some cash and turn it into a fortune with seemingly no effort.  But I am not that dumb and nieve.  I know that it can't be that easy and never thought it was going to be.  But how could I not even try?  It makes you money out of money.  So I jumped in.  I read books (not as many as I should have), followed industry twitter accounts like @traderflorida and @gtotoy. Read daily blogs from some big names like Joe Fahmy, Josh Brown, Brian Lund and others like Crossing Wall Street. I get an endless barrage of emails daily from Seeking Alpha.  I am on stocktwits and CNBC streams daily in the background (although I have learned to not listen.)  And I am trying.  It has been hard. It will get a lot harder. This is where I am going to write everything down and hopefully help sort out the problems, issues and noise.  

JLipkin