"It's a Bingo!"

Well, Friday was full of excitement in the market...

So much so that later that evening I took my wife out for a steak dinner at Smith & Wollensky's... some Dry-aged Porterhouse, half-a-cow-no-big-deal and a bottle of nice red kind of night. I have to say, after all the bs that 2013 has put us through... this felt good. Really damn good. 

The following morning, Saturday - I went about my business as usual - rowing practice, helped with spring setup of our rowing docks that got craned in... drove to Boston, ran some errands, then went and bought myself an ASUS ROG gaming laptop with some ungodly specs... 24mb RAM, gorgeous freakin thing - beauty and the beast. 

While I do still enjoy a good game of Civ here and there these days, (a game that clearly does not need anything near the capabilities of this monster) I went for this overkill with trading in mind. 

Over this past week I had a few instances where just as I was ready to click to submit a trade my old beloved laptop would casually freeze for some painfully long 20 seconds each time... Since my risk tolerance does not need another influencing factor, and since I was happy that I took... well, not only took profits Friday but NAILED, and I mean NAAAAILED an exit on PEIX, that brought me to a total of just shy of $7k for the week, I decided to retire my old desktop replacement friend and find a new one. And this thing is - perfect.

But don't let me get all Tim Sykes just yet. ;) I'm still just a noob and this is still barely even a beginning. Anyhow - PEIX - as I wrote before, I held overnight into Friday. And while playing with house money at that point due to my initially cursed but later celebrated entry point ($15.35), it still hurt seeing profit $$$ amount dramatically change. I got shaken out at $16.45, when the very bottom was $16.42. I was genuinely mad at myself for exiting, but without level 2 quotes the decision was on the charts alone and when they looked to be breaking down intraday imo - the feeling alone... 

I used to have, and apparently still do, a very special touch to find the bottom. And not just find, but sell there. There are multiple different levels of panic and psyche that I go through before I reach the one that screams to evacuate and on which I actually act. Usually, this is the point VERY shortly after which the price stops its descend and reverses back up, leaving me soiled and mad. 

lol.

Anyway, I got back in some 40 cents later, and rode it all the way up to a sell at $17.85. This exit point literally happened a split second before the stock reversed and tumbled down 30 cents within a minute, few min before the market close. Then continued going down. While I know that this stock has a lot more upside both short and long term, I was and still am so damn happy that I locked in profits and that Im sitting all cash on sidelines over the weekend. In fact, my wife and I both agreed that we should add that as one of the key commandments to our trading plans - close all positions, every Friday. I am sure that every so often there will be stock setups that will challenge that rule, but especially now, when we're both more often than not going all in every time - letting my money sit in a stock over the weekend is a whole lot more risk than I am ready to accept. 

Lets hope I continue to follow this rule. 

Is it Monday yet?? Can't wait.

The name of the game for me on Monday will be again PEIX and BEAV.

BEAV - my wife came across it - monster chart imo, multiple timeframes set up, I really think this will pop soon.

Again, these are NOT investment nor trade suggestions, just my thoughts that may or may not turn out to be true. 

Please use utmost caution. Cheers.