Today was one of the worst DayTrades I have done so far. I am not going to let it get to me, but I seriously wish I had played this one differently.

The market was tanking (as usual) and JSDA had been popping once again on a downgrade. They had terrible earnings last week, got a downgrade and still managed to POP on a DOWN day for the market. Some volitale stocks are just lost and dont act like they should. I am sure I will make this one back but daMn.

I sold short 400 shares in the AM at $11 even.
The market was tankin and after popping over $1 on a downgrade the day before, JSDA was SUPPOSE to go down with it. Turns out it just kept riding sideways most of the day. I sat at home waiting for something to happen and nothing did.

I drove to work not too worried about any action while I was on the rode and I was right, no action. When I got to work and saw it was still at about $11 I thought real hard about selling (or buying back).

I was working on some AITG stuff when I noticed a big POP. JSDA popped to $7.50 in just a couple trades on the T&S. Without panicking I checked the news, nothing, then I mistakenly checked the YAHOO! message boards and it was BUZZING about Jones Soda becoming available at McDonalds.

I guess McDonalds is testing some wannabee Starbucks cafes where they are selling Jones. Some schmuck took pictures of the Jones Soda being sold there and started buzz about it causing the stock to POP.

Out of Panic, I thought " Damn I should be buying JSDA on this news not selling!"
I bought back the shares at $11.75, basically the high of the day, only to watch the stock go back down to the $7.25 range.

Now if this news is true, it could be HUGE for JSDA and I will keep my ears open for it. But as far as today goes, that news just FUXed me.

You never know when news will come out and bite you in the ass. When trading companies that put out a heavy amount of press releases you always need to be cautious that something will happen unexpectedly.

This trade has taught me a lot but I am not going to let it get to me. Hopefully I can make all that money back going long on JSDA when they do announce getting into Micky DeeZ.

Its not so much that writing blog posts is difficult, falling behind is so easy. Once you fall behind catching up seems like such a tedious task. Its time to catch up. The point of this blog is too keep a record of my investing/business/life and that is what I will continue to do. I just cant promise it will always be a play by play.

I was up early looking for a trade and FMCN looked like it was going to make a move. The market was tanking and I thought FMCN would go down with it. Just so happens that RACK had a nice day and I was awake to sell into that action.

I bought 100 shares FMCN at $41.72 expecting it to get a nice pop when the market popped over 100 points today. It just kinda sat there not doing much at all and I sold at $41.94. I had just sold all my RACK today and was feeling good about that, didnt want to lose money on a daytrade that wasn't going my way in the first place.

RACK did report just OK numbers and the stock did pop like I wanted it too. It was acting so well that I decided to hold it even longer. RACK opened at $12.50 the day after earnings and I was up $1 a share overnight. For the next few days I watched it go up gradually and then pull back a little. It wasnt going to go to 15-17 range like I had hoped so it was time to sell.

On AUG 8th RACCK won some Linuxworld Award and made a change of directors which gave the stock a nice pop. It was time to get out and I sold half my position (150 shares) at $12.50 in the early morning.

I wish I hadn't because it kept going all the way to 13.50. I sold the second half at $13.10 and was glad to be out of this one.

Luckily this trade turned investment turned trade again ended in profits. I am usually not so luckily. One of these days I will stop doing that.

One of my most important rules is to never let a trade turn into an investment. This always happens when I have a trade that I expect to hold onto for 1-3 days but goes the opposite direction that I expect it too.

I bought MRVL because of the iPhone hype, they make the chip that allows the phone to hop in and out of wifi networks. I still believe that this is an EXTREMELY important technology and all phones will have it in the coming months. What I didn't realize (but do now) was how closely MRVL follows the markets. If the market is up so is MRVL and visa versa.

I have never seen a tech stock that acts this way because most tech companies are off in lala land. But since MRVL is a child of the tech boom (year 2000), it seems to trade with the rest of the sectors.

I bought in 100 shares of MRVL at $19.36 on 7/23/07.
It had gone from $16 to $20 over the last 3 months when it had a nice little pullback. I saw this as profit taking and a good buying opportunity. What I wasn't expecting was for the market to turn on me the way it did. MRVL followed it all the way down to $16.50 where I sold out of fear at $16.62

It recently popped back up to the 18 range (that what always happens when i sell out of fear). Looking back I never should have held this stock more than a few days in the first place. When I noticed that it wasn't going the direction I anticipated (which was pretty quickly) I should have sold and never looked back.
Looks like another loss to write off.

RACK has gotten hammered lately for no reason leading up to the conference call. I have already got 150 shares from when I . LIKE USUAL, that trade turned into an investment when it started going down. I have confidence in this company (for some reason) as it has gotten hit so hard the last few months. After the major dip these last few weeks I think it will look cheap when they announce just OK numbers. There is also rumor that they will be bought by DELL or some other hardware company.

I haven't traded one earnings announcement this earnings season, so I think this is a fair one to trade.

I bought in another 150 shares at $11.50 just minutes before the closing bell. This takes my average too $12.25. I easily think it would pop above that off OK earnings.

I have been following JMBA for a long time and have written about it before. For absolutely no reason it has recently taken a MAJOR hit and is looking like an amazing buying opportunity. JMBA is right back to where it was before SVI even announced they were even going to buy Jamba. There has been no news AT ALL and the stock is just taking out of fear and because the market is taking a crap. The company is growing at about 30% and will soon be coming out with products in stores across america (just speculating here, but they are going too, trust me)

I am going to buy in half a position here and see what happens. If it goes lower I will buy more. The lowest SVI ever got was $7.02 so if it ever gets near $7, I will back up the truck.

GOOG didnt pop back like I had expected. There is a lot of buzz around them right now but nothing that I can see as a strong catalyst any time soon. I sold those 10 shares today partly because I was scared it would tank, partly because I don't like having so much money tied up in 10 shares of a stagnant stock. I sold at $500 even losing $100. If I wouldnt have sold out of fear I could have sold over $510 the very next day. I have done it too many times, selling out of fear is always a bad idea. At least I can notice it and hope to learn from it.

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