All Aboard!

The one thing I really want to establish and get into the habit of for this blog, and my trading, is to go into a trade with a clear head, a good established theory on price action, and smooth entry.

Today, my second trade in this account, comprised of none of those factors.

There was pretty low volume before the 2:15 fed announcement, and after, there seemed to be a strong move to the upside.  I figured that was pretty typical, I was out of the market lazily looking for possibilities for another trade to take.  Then between work and everything else, I checked the market and damn!  There was some serious selling going on.  I threw out the clean entry strategy and just tried to hop aboard at the end of the day, buy a small 75 shares of BGZ @ 21.09 ...with some much follow through on the rejection of new highs, I figured this has to be the start of a couple of day downtrend.  Which leads me to the conclusion that I came into today very under prepared, and will try to have some plays in mind before they explode in front of me.

The bears have been getting smoked every time since March, now I am one of 'em - I plan on only being a temporary passenger on the short bus.