Stock Traders Blog

Yesterday I was planning to sell PCX and DRYS today so that my account could be up above my initial capital. I saw this opportunity in early morning but I didn’t act on it. I was expecting more. Actually news already pointed out early morning that oil was continue dropping., It made sense that it would put pressure on energy stocks however I didn’t pay attention to it. I kept expecting a 4% bounce backup on PCX after yesterday’s almost 10% drop. It certainly wouldn’t happen when oil was continue dropping. I just didn’t sense the connection between oil price and energy issues. That’s definitely another lesson learned.

There is always ups and downs in a trading day and there is always opportunity to make profit. To train myself to make more right decisions than wrong is the purpose of the “Stock Trading Lesson Learned” category. I also watched Baidu today I wanted to trade on its call options and I set an order to buy its Jul 280 Call at $6. The price was set too low however. My account was down almost $300 at today’s closing price

Account Balance 20090707

Account Balance Changes: -$272.80

Related posts:

1. Again Never Underestimate the Tie Between Oil and Energy Stocks
2. Stock Market is a Box of Chocolate You Never Know What You Are Going to Get
3. Trader’s Mind is Full of Dilemma – My Thought Gone Wild With Bank of America
4. My Mind Switched Side But so Did the Market
5. Cash is King But I Can not Withstand the Temptation