Tuesday, July 1, 2008

The Big LeGOOGski

GOOG today: Back to where it once belonged.

I'm not ashamed to say it. I bought back the GOOG that I sold yesterday. I decided that I wanted the full position, after all.

I got up this morning and found the futures in the toilet and GOOG down around 519. Good. I thought I would let it soak, down to the vicinity of 500. But then it started going back up and I, impulsively as always, put an order in to buy at 525. And got it. And then it kept going up, almost to where I'd sold it yesterday.

The other thing that happened today is that I bought some more Golar LNG. This is the stock that Karen Finerman likes. I bought some a while back a few points higher, and yesterday, I wanted to buy some more. I put in an order for 15.40 and came up empty. I checked it again this morning and it was available at 15.91. I took another batch. And then it kept going up the rest of the day.

It's amazing. I'm motivated by greed to sell and fear to buy. I trade in the moment. There's no science or art in it at all. And yet, today, I made a little money.

I'm beginning to look forward to Google Eve in three weeks. The charthuggers are saying that the Gap must be filled. I'm not so sure. The Gap was all short-covering, in my opinion. The shorts got no skin in the game anymore. I think they're gonna stay home, this time.

Meanwhile, I'm studying my trading skills. I'm working on getting scared sooner.

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