Hi all,
This week has been a total roller coaster, which gives you great opportunities to make a good amount of money if you are into day trading, I was able to make a bit of money myself this week. Having already done the 3 day-trades I can this week, I decided (unwisely) to temp fate and short a stock and hold it until monday, under the theory that the major indices would keep going down on monday. So, with that in mind, I waited for CMI to go up and bounce off the 20 period moving average in the 15-minute chart and shorted it at 87.25, which at the beginning seem like a good idea, since the stock hit the 86.90's not too long after, but then jumped up bit, following a small reversal of the indices.
I still think that we have at least a bit of downside on monday, but the waiting makes me nervous, and I think that it would be in my best interest to not let an investment go overnight, unless there is a strong trend going on. So I guess we'll see, I will be glued to my screen at 9:30 tomorrow and see what happens.
Will write some more then to let you know how it went.
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