Thursday, February 24, 2022

illusions of grandeur

Today the market opened with a ~3% gap below the previous interim pivot. Premkt I felt a panic about LT accounts. Put in stops, and approached my trading account with a ton of caution. Trade tiny, if at all.

Ignored the gap scanners and went to the straight volume scanner. 
TSM gap down right to long term level and flushed on open. Following the flush, a run up "higher than expected"... learning my lesson from the past several days. Then I shorted against a level. Took that first p/l target despite illusions of grandeur. Stopped where I should (...despite illusions of grandeur). Peace, and also looking back later was very right to do. 

MRNA strong on weak day. Very big spread on options as usual (so why even try??). Need to try to preempt and need to take those targets. Started with preemptive call. Tight stop. Failed. Tried puts for intraday steep trendline break. Failed, but hung in to my stop while simultaneously starting a new long position. Took the p/l target bc esp here, take those gift horses. 
Loved the ongoing runup and held illusions of grandeur. but on that top tail I had to either tighten up or go for the ride. Today is no day to go for a ride, and MRNA is no stock to ride a zag. Was at first disappointed to stop (classic emotion). Later, glad. Tight stop is the right stop.

Pleased with my decisions today. +11% on account. Peace.



EOD update. Holy cow!


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