Day Trading Results 9-8-2008 through 9-12-2008

 


Bring it on September

September brings about the fall season and sell offs in the stock market.  If you read the stock almanac, it has some grim numbers for September.  However, during a Presidential Election Year, the S&P generally bottoms in September and finishes the year out strongly.  We are also in the 8th year of the 10 year cycle, which has finished up 10 out of the last 12 decades.  I am by no means suggesting that we all go out and buy calls on Monday, but history has shown that the market has high odds of displaying some sign of strength by the end of the year.  As a day trader, this level of volatility provides a market where quick gains are possible.  Over the last week I was able to capitalize on these short spurts.  But I want to send a warning to all day traders out there, do not get to comfortable with the triple digit moves on the Dow every morning.  At some point this party will end and the gains will not be as easy to obtain. 

Day Trading Results for the week of 9-2008 through 9-12-2008

Overall had a decent week and was able to finish up $1,758 only using 15k per trade.  Many people would be thrilled with such results, but I am terrified as a good run often precedes a fall.  The market has an amazing ability of humbling you for no apparent reason.  I have fallen prey to this a number of times and this was was the reason I elected to not trade on Friday.  I am going to take the rest of the weekend to just clear my head and prepare for the next week.  But trust and believe, I will start the week with more fear than a newbie trader putting their first dollar down on the table.

Good Luck Trading,

Al

# Type Date Symbol Price Shares Net Profit %Profit Comm.
1  Sell Short  09/08/08  CF  $125.57  120 $233.20  1.56%  $1.20
   Buy to Cover  09/08/08  CF  $123.61  $235.60 $233.20    $1.20
 2  Sell Short  09/08/08  MEE  $51.65  300 $252.00  1.67%  $3.00
   Buy to Cover  09/08/08  MEE  $50.79  $258.00 $485.20    $3.00
 3  Sell Short  09/09/08  MEE  $44.02  340 $245.80  1.69%  $3.40
   Buy to Cover  09/09/08  MEE  $43.28  $252.60 $731.00    $3.40
 4  Sell Short  09/09/08  DRYS  $54.42  300 $251.00  1.57%  $3.00
   Buy to Cover  09/09/08  DRYS  $53.56  $257.00 $982.00    $3.00
 5  Sell Short  09/09/08  PAAS  $19.66  750 $234.50  1.68%  $6.50
   Buy to Cover  09/09/08  PAAS  $19.33  $247.50 $1,216.50    $6.50
 6  Sell Short  09/10/08  OI  $36.00  400 $49.00  0.40%  $4.00
   Buy to Cover  09/10/08  OI  $35.86  $57.00 $1,265.50    $4.00
 7  Sell Short  09/11/08  AIG  $15.40  1000 $249.00  1.72%  $8.00
   Buy to Cover  09/11/08  AIG  $15.14  $265.00 $1,514.50    $8.00
 8  Buy  09/11/08  AGN  $60.35  250 $243.50  1.65%  $2.50
   Sell  09/11/08  AGN  $61.34  $248.50 $1,758.00    $2.50