The market is digesting a lot and a REAL correction may finally be in the process.  We have seen small pullbacks, but this one definitely feels real.  With the Greece News, whatever happened Wednesday with  the mini-crash and the original mess with GS it has pushed the market to finally correct.  This is not a bad thing, it just takes time for the market to fully take direction.

It has been an extremely quiet week in my trades due to the market and my confidence.  Hopefully next week the market takes a direction with conviction and I can get back to trading.  I’ll begin posting my trades in real time next week!

In my last post and in my tweets I mentioned shorting MOS yesterday.  It did not collapse like I had hoped, it being more of a swing trade anyway, but I was able to book a nice $830 profit.  I really needed that win as my trading hasn’t been very well lately.  After I booked that win I didn’t do any more trading for the day.  I believe once you make a big leap towards a goal you should either play really cautious or quit – I chose to quit.

I am not trading today due to work, but WOW what a crash!  The Dow Jones Industrial Average fell 1000 points in minutes.  There are rumors going around that it was an error by one of the big institutions, but we’ll have to wait and see what happens next to really know.  I am going to continue taking it easy this week, probably not even trading tomorrow.  Starting next week I am going to start tracking my trades in real time on the “Real-Time Trades” page of the site on the top menu.  This is a system that I had created which will store all of my trades from here on out.  You’ll be able to see trades as soon as I enter, exit and all historical data will remain so you can see my progress over time.

Lastly, I will begin writing educational posts soon and hoping to get the first one done this weekend.  My goal is to start small and basic and keep writing through the stages of a trader.  Essentially I want this blog to be like a big book for new traders and anyone else looking to learn.

The market continues to become uncertain.  There is no clear direction, but this dip in the market definitely feels like it could be the correction many have been waiting months to experience.  I apologize for the lack of updates, but honestly there isn’t much going on as far as trading in this market.  Once a clear direction is taken I will pick back up my trading.  I am going to begin writing different posts, not just daily recaps and watch lists so stay tuned as you may see them this week.

Today I took two trades in one stock.  I shorted MOS earlier in the day for a quick $50 profit.  I re-shorted it later in the day as it came back down and penetrated support.  I am holding overnight and will see how it plays out tomorrow.  I’ll keep you updated in my next recap.  Be careful trading in this market!  It’s best to not make as much money than lose a ton.

Daily Profit: $50 – before commissions