*Note – I made this trade before launching ClearTrades.com so the details are a little light. You can expect to see more information on trades made in the future.
Sold my 25 shares of SDS at 77.62.
The market was lower for the first couple of hours of the day, but I was too late in seeing the reversal. I could have sold this in the morning for a nice little gain. Instead, I finally ahd to give up hope on a further decline and take my losses so I could move on.
Realized a loss of -$70.27, for a return of -3.51%.
Losses, SDS, Sell
*Note – I made this trade before launching ClearTrades.com so the details are a little light. You can expect to see more information on trades made in the future.
Long 100 shares of SSO at 22.77. I’ve traded the SSO a lot this week, but as of this trade I wasn’t holding any.
Once again, I’m trying to time market momentum. The good news is that this was a good price to get in at. The bad news is that I could have held my original position and been better off, saving the loss on the SDS and saving all of the extra commissions.
Lesson learned- if I’m going to try to time the market I need to be a lot more deliberate with when I buy and sell. I’m probably better off being more patient and giving it some time. With any good news next week I think we are still heading up nicely so I plan to hold on to this one for a little while longer and I think I should come out ahead in the end.
Buy, SSO
*Note – I made this trade before launching ClearTrades.com so the details are a little light. You can expect to see more information on trades made in the future.
Sold my total long position in DIG, 50 shares at 29.00.
DIG was still looking pretty good, but I wanted to put the money elsewhere and I had a small gain so I took it.
Realized gain of $37.99, for a return of 2.70%.
DIG, Gains, Sell
*Note – I made this trade before launching ClearTrades.com so the details are a little light. You can expect to see more information on trades made in the future.
Long 200 shares of UYG (Ultra Financials ProShares) at 3.07. I would have bought more, but I only had enough cash in my account for 200 shares and I wasn’t ready to sell off anything else at the time.
UYG is a Financial Sector ETF. The financials were really taking a beating up to this point, but the news started looking better and better. It sounded like nationalization of banks was definitely off the table so I decided to add more Financial sector exposure (to go along with my large weighting in BAC).
We should finally get word from the Treasury on Monday (CNBC – Treasury Still Honing Wide-Ranging Financial Aid Plan) regarding the Financial bailout (or whatever they plan to do) and as long as nothing crazy pops up I think this will trade much higher over the coming week.
Buy, UYG
*Note – I made this trade before launching ClearTrades.com so the details are a little light. You can expect to see more information on trades made in the future.
Long 25 shares of SDS at 79.87. In case you don’t know, SDS is the Pro Shares Ultra Short S&P 500 ETF. You buy this because you think the market is headed lower.
I saw the market turning in the afternoon so I sold my long position (SSO) and bought the SDS to make money on the move down.
Buy, SDS
*Note – I made this trade before launching ClearTrades.com so the details are a little light. You can expect to see more information on trades made in the future.
Covered my short of WFC, 100 shares at 18.67.
I’m not sure why I covered this so quickly. I guess I got scared. I missed a few dollars of downside the following day. This one was a mistake and I should have seen it coming. Lesson learned- be more patient and allow for more of a loss before getting out. I think the pressure on my BAC shares at the time scared me a bit and I didn’t want to end up with another financial loser.
Realized gain of $4.18, for a return of 0.22%.
Buy to Cover, Gains, WFC
*Note – I made this trade before launching ClearTrades.com so the details are a little light. You can expect to see more information on trades made in the future.
Sold 170 shares of SSO at 22.15, clearing out my total position.
I saw the market turning down at this point, which actually turned out to be accurate, though I could have still sold for a slightly better price that day. With the market turning, I sold my SSO for a loss and went long SDS instead. SDS is an S&P 500 short ETF as opposed to the SSO, which is an S&P 500 long ETF.
Realized loss of -$157.23, for a return of -4.02%.
Losses, Sell, SSO
*Note – I made this trade before launching ClearTrades.com so the details are a little light. You can expect to see more information on trades made in the future.
Long 200 more shares of BAC at 4.90. Adding to my previous day’s buy, this brings me to 700 shares of BAC at an average price of 5.11.
I would have bought more if I had more buying power at the time. Unfortunately, I had too much money tied up in SSO, which was going nowhere. By this time, there was news floating about that nationalization was unlikely for any banks and I felt once the nationalization risk was removed BAC should trade much, much higher.
BAC, Buy
*Note – I made this trade before launching ClearTrades.com so the details are a little light. You can expect to see more information on trades made in the future.
Long 500 shares of BAC at 5.20.
I had the right idea here, but I jumped in too soon. There was still a lot of bad news and the chart looked bad. I should have been more careful and waited a bit. I think I was a bit too anxious to make up for covering my BAC short too early. Of course, letting my emotions get involved is a huge mistake and I’m lucky this has turned around since.
BAC, Buy
*Note – I made this trade before launching ClearTrades.com so the details are a little light. You can expect to see more information on trades made in the future.
Covered my short of 160 shares of BAC at 5.588.
I was too fearful with this one and should have been more patient. I missed out on almost two more dollars of downside, but at least I got out with a gain.
Realized a gain of $72.71, for a 7.4% return.
Not bad for one day, but this should have been a lot better.
BAC, Buy to Cover, Gains
