A Trade Worth Making

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We sit. We trade. We rip it up. We watch. We lose some more money. And the damn stock is still in the same place it openend. The little sucker has not even moved. Talk about a morning trading like a Piker.

There I was banging in and out of KR on the open. Trading too much. Thinking I saw the stock turn. Loading up and then getting out. In short a morning of lots of being wrong. Losing way too much money for a stock that had not moved.

The good news was it was only 9:45AM and I had the whole day ahead of me. I learned some levels of interest in KR. I just needed one good move and a smile would return to my face, a bounce to my step, and green on my screen.

Focused and determined to make One Good Trade I saw a different pattern on the tape. 19.90 was now holding the offer. I had not seen that before. KR failed at 90c and now it seemed to be holding lower. Could this be my way home?

But 80c was support so KR needed to trade below this level before an excellent trading opportunity was present. Well it did. I shorted some more (while listening the conference call). And after all that work for nothing trading KR above and below 20, when all it was doing was making the spread on all of us who thought it was moving, I found a good trade. This was a trade worth making.

KR traded down towards 50c and thru where I took off half of my position. And then I got flat as 65c bought way too much and the downtrend looked ready to dissipate.

So I ended the AM positive in KR after a poor start. And I did so with a trade worth making.

Best of luck with the rest of your trading day! Don’t forget to follow us on Twitter.


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