13 Stock Trades:
2 AAL + 165.36 BPS.
11 BLT - 2429.04 BPS.
8 long trades - 2502.00 BPS.
5 short trades + 238.33 BPS.
10 intraday trades + 378.34 BPS.
3 overnight trades - 2642.02 BPS.
Stocks net - 2263.68 BPS.
Return on account for the week - 12.65 % net.
I traded 5 days this week.
No Index trades.
Thoughts
A horrible week. Took a hit on a longish term BLT trade on Friday, which I should have dumped weeks ago.. All the losses were the result of just 2 trades on BLT. My intraday trades made a modest profit.
Miners were absolutely trashed this week, the index was down 10% over the week, which is a pretty huge move. Poor data from China didn't help the sector.
Gold fell sharply on Monday, breaking the $1100 level for a while.
I am really not happy with my recent performance, basically being a long side trader, trading during a severe bear market. I can never seem to hold onto shorts, even though in hindsight, in this market it has been the best strategy. Even today, I shorted the early rise on AAL, but trailed down my stop and closed @ 822. Later in the afternoon AAL traded well under 800. I should have been more patient.
Hoping for better results next week.
Changes on my watch list stocks over the last week, pretty big falls on GLEN, BLT, AAL and RIO:
Stay disciplined.
Stay focussed.
Stay humble.
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