DELTA TRADER: Running on Empty

Friday, May 23, 2008

Running on Empty

May 23rd Update
Sold for Gain BPG - $3515
TGC - $723
Sold For Loss XNL - $160
MNKD - $143
Total Gain - $3934

Well just as I suspected the shorts tried to take the oil stocks down but with world supplies of Oil and Gas running on empty they couldn't hold them down for long. Oil closed above $132 a barrel and both PDO and MXC were early moring victims of the shorts . But by miday the tables were turned. I decided yesterday to not get shook out and hold tight. The bet paid off big. News came out today that BPG had won a summary judgment in a litigation with ICG Natural Resources, LLC. Pre-market the stock was up to .55 sold I sold a third for a nice gain and will be holding the rest.

I also sold TGC for a nice little gain. I should have sold yesterday for twice the gain but could not being that I have to work, so when I got home I traded for todays gain and sold all. Because of the gains I also decided to liquidate all remaining shares of MNKD and XNL.

LDK closed strong as so this will be an interesting upcoming week for sure. Enjoy!

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Why I Got Started

Back in 2008 I took to swing trading as a part time job to supplement income with the intention of building enough capital for a full time income within three years. So over the last few months I've been working towards that end and thought it might be fun to share trades and the thoughts behind them.

For those who know me I have a propensity for blogging and building websites for fun and educational purposes such as
Integral Skin Care and Photizo my personal page and blog. There are others one of which is rated number one on the internet in it's category by Alexa.com. but this gives you an idea.

These "hobbies" require endless hours of research and though they are fun to do, they bring no profit. So this last year I decided to focus my attention and resources to something that actually makes money and investing seemed to be the right fit. It requires research, the ability to gather and aggregate many forms of data, earnings, news etc. and the knack for reading the rhythm of the markets or a particular stock. All of which I find a great challenge. So this year I started an account with an online brokerage firm and started with $325. Every month I would add anywhere from $500 to a $1000 and began trading almost daily. Now I have three different accounts and move about $40,000 between the three for short term trading after the this years profits and additional money added. So this blog will be an attempt to share what I have done and what I am currently doing hopefully on a daily basis to log all returns and losses for everyone to see.

I also recently joined up on The Lion as DELTA which you can see in the Portfolio section where I recently won 2nd place in their April Portfolio Contest with a 325% gain in 30 days. So stay tuned to see where this goes as the goal is to generate $250,000 in 3 years or less (Hopefully less :-) with $10,000 in working capital. Sound crazy? Well I just made $7500 last week when I took a week off to trade FT. So having to Trade PT may not result in such a high returns but a return is what we are after!

Dislcaimer and Dislosure

This site is not responsible for any loss (or profit) associated with stocks mentioned on this blog. Under no circumstances will this site be held liable for losses incurred due to information presented anywhere on the site. Please do your own research before establishing an equity position in a company. Not all stocks mentioned on this site are suitable for your investment needs. Carefully evaluate your own risk tolerances. ALL investors are advised to conduct their own independent research before making a purchase decision.

There are always two stock experts on any given stock...One says it will go up, the other down....If you can't lose it....don't choose it.

DELTA TRADER

Friday, May 23, 2008

Running on Empty

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Dislcaimer and Dislosure