So, today, as I suggested by the technical setup of yesterday, the market went up in the morning, howerver I suspected the raise would be short-lived, due to all the problems going on in the world economy. So, I decided to wait for my stock to go up some and then sell... so the stock goes up and as soon as it starts going down I decide to sell, but instead of using a limit order, I used a market order and my profits went to the trash, I staill gained some, but it was not great (Mistake #1: Selling at market price during the first market hour), then as I saw the stock go down, I decided to short the thing, without waiting to see if that was just a temporaty pull back (Mistake #2: Shorting on an "up" day, Mistake #3: not waiting long enough to see if the pullback was short term). So, there you go folks, I am officially the biggest dumb ass in the stock market. Now I am waiting for the market to go down again so I can cover my short.... should happen soon, but I don't think it will today.... maybe my luck turns and I will be able to give some feed back.
UPDATE (11:06am): I waited and my patience was rewarded, I was able to get out of my bad trade witout losing any money!.... I am just bummed that I messed up a nice oppportunity to make cash if I had enough patience, oh well, I guess I will live to trade another day. now I will wait for the afternoon to see if I can get a good entry point, short or long, depending on how the market behaves for the rest of the day.
UPDATE (3:10pm): It seems like the market is going to close green today, that would be day 2 of buying, I expect some more upside tomorrow and possibly a turn around to end in red, I will keep my eyes peeled for a reversal and get a short in, although I could risk it and trade overnight, since I am out of day-trades until thursday... we got jobless claims, consumer price index and industrial production coming up on thursday morning, so I might probably just wait.
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