Friday May 4,2007

+$15.00

Man, what a slow day today. After seeing a couple of setups in the morning hours I quickly put on a couple of trades. It's a good thing those moved in my favor because the afternoon was like watching paint dry.

You have to remember that I am only trading with 100 shares, and I only trade 1-3 stocks a day. There are only a couple of setups I can take throughout the day. While I didn't make any real money this past week, I am glad that I had 2 days of profits.

I was trading ELY (Callaway Golf) today and took one long setup for a couple of pennies my way and about 2 hours later I took a short setup. If I held the short for a little longer I could have made about 40 cents on the trade but I didn't like the way the market was behaving. It was a slow and choppy day and I decided to take any profits I had.

Have a nice weekend.