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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: CharlieChina who wrote (28387)	1/7/2000 4:27:00 PM
From: SwampDogg	Read Replies (1) \| Respond to of 62348

I was thinking along the same lines. This is either a little bear flag or the beginning of the last huge blow off before a really long bear market. I think I lean towards the former. There was some short covering today but it will probably end lower next week.

To: CharlieChina who wrote (28387)	1/7/2000 6:03:00 PM
From: Cameron	Respond to of 62348

End of week postmortem. Well... today was kind of interesting. Actually got out of my RIM with a profit and dumped the TD at pretty near a break even. Didn't clear out yesterdays TWE but was able to average it down pretty well... Between the position and traders I now feel like I own TWE...(well there aren't that many but for me its a pretty high concentration) I wonder if they'll now listen to my gripes about their performance lately??? - naw - I'm dreamin again!!!! (If it wasn't so sad I'd be LOL). A bunch of cyclicals jumped out on the charts last night and everyone was talking tech meltdown. I even created a new portfolio ticker to accommodate a bunch of stocks I wouldn't normally think of looking at but which looked like they were in the process of breaking out. I went to bed thinking how glad I was I'd sold the NT I'd picked up @ $129.40 yesterday..... Well.... today just went to prove that you never can tell!!! I guess all the time I spent looking at charts last night was a total waste. The new stuff did nothing and some of the old regulars were smokin!! Oh well... I don't want to contemplate what the charts will look like after today..... I don't think I'm going to even look at them until Sunday. We'll probably have to come up with some new chart patterns... the yo-yo comes to mind as a good name. I guess the good news is, I have a portfolio ticker all set up for the next bad tech day??? My strategy going into this week was to really focus on risk management and basically turtle, executing quick in and out plays. While it was definitely more boring than normal I pretty well managed to do it(well I got stuck with a few things last night due to my personal tech nightmare - but that was unintentional). The thing that is maybe more surprising is that it seems to have worked out relatively well. I don't think I've had a week prior to this with more 20, 30 or 40 cent clips. I was almost embarrassed to post some of them - LOL. Ignoring the TWE I'm still sitting on, there were only 2 losing trades all week (both on TD - dah!!!) which were relatively minimal and I was able to grab a few decent runs (NT twice, QLT and a buck on RIM today). Adding those to all the five & dime plays really helped things add up. Total return on investment for the week was just under 3% - which isn't stellar but given the week we've had I'm pretty happy!!<gggg> Anyhow, this was a learning experience for me.... I wasn't sure if (a) it could actually pay out or (b) I could restrain myself enough to execute it. I will say that it was quite frustrating walking away from some plays because I was purposefully trying to keep my exposure down...(ie. COR yesterday and NT this AM).... and because I was trying to only focus on one or two things at a time. In retrospect, I think I could have been a bit more active but you live and you learn.... next time...(ha.. maybe next week!!!). I think I' coming to the conclusion that "position trading" is a bad strategy.... either that or I'm bad at executing it!!!<gggg>. That is a topic for another post though. Let's just say I could have flipped my ECG profitably about 10 times since I bought it. That is the cud I'll be chewing on this weekend. Mooooo..... Now of course the question is... are we going to see more WILD fluctuations or will things settle down a bit now???? I like volatility as much as the next person.... but this is NUTS!!!! - LOL Everyone have a good weekend!!!