Thursday, July 15, 2010


It's a dangerous thing.

My plan is to accumulate on weakness and that's what I need to do. But then I get bored.

Yesterday I bought a 1/4 position of FAS at the closing bell. It was a gamble on the JPM earnings play, which they destroyed by the way. But it was dumb. I didn't really think about it. I did it because I was bored and undisciplined.

I managed to get out for a small gain that did little more than cover my fees. I was lucky though. The market was obviously flooded with sell orders on the open. I could have got had, badly.

Stick to the plan. Accumulate on weakness.

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