A recap on my day. I originally looked at a whole of stockjs...

A recap on my day. I originally looked at a whole of stockjs both on the upside and downside and then followed up with only looking to trade the banks today and also SGP. The banks started off quite well and finished up on the day, but it could have been so much better.

Traders aftermarket traders lounge for the 27th stock postings:

Long - VUK, ANZ, WBC, NAB, CSR, BOQ, BLD, BEN, SGP, CBA, BSL
Potential longs - QBE, SIQ, MFG, PDL, IFL, SUN

Shorts - RMD, TNE, OGC, SBM

Potential shorts - FMG, RRL, NCM,

VUK - 10.14%, ANZ - 4.46%, WBC - 4.43%, NAB - 4.74%, CSR - 1.23%, BOQ - 2.03%, BLD - 0.65%, BEN - 4.13%, SGP - 0.28%,
CBA - 2.22%, BSL - 1.75%, QBE - 3.98%, SIQ - (1.9%), MFG - 1.04%, PDL - (0.76%), IFL - 0.62%, SUN - 0.11%

RMD - (3.19%), TNE - (1.00%), OGC - 0.66%, SBM - 1.36%, FMG - 3.36%, RRL - 2.96%, NCM - 0.81%


I was happy with the selections I made yesterday in the aftermarket lounge. Just not so happy with the execution. I was right in saying the banks were the right ones to trade. I liked ANZ and CBA the most and in the end I picked the other one I liked on the day in SGP. Just goes to show you that you can do everything right and still get it wrong when you are trading. Just a poorly executed entry price and I eventually closed out for a small loss. It didn't do much all day and I was expected so much more from it. Anyway not to worry.

On a day like today it is dangerous to go against the sentiment of the overall market, which is why I wasn't going to touch any of the shorts that I suggested. Better to trade those in a downmarket or get in at the end of day. As you can see by the losers I picked in bold, it was the right thing to do. As it turn out I ended up getting in TNE at the end of the day and will look to see how that travels tomorrow, so far so good.

The trades I did on SGP and TNE are all paper trades at the moment and I am reasonably happy with how I went overall, but I am still not in tune as I would like to be when selecting my entry points. Patience is certainly a virtue while trading and you often find opportunities to trade the prices you want if you just have a bit of patience. I wont beat myself up over it. Tomorrow is another day and if the opportunity presents itself for a good trade I will take, otherwise I might save the powder for Monday. The dollars are real from tomorrow and it will be the first time I have dipped in the market for quite a while. Time to get back on the horse, especially since I have the time to trade.

Looking forward to more posts in the lounge and good trading for tomorrow.