Amazing; 08092006 – LEND, WRNC, & HSP

Wow. Unbelievable. This can’t be happening. These are the phrases that went though my mind this morning as I saw my best trade opportunity simply not get filled. I would like to believe that the market is not conspiring against me, but sometimes things happen in such a way that it’s no wonder why many men are humbled by this profession. Well today I was ready. I did my morning scan and found that of my usual suspects, LEND, WRNC, and HSP stood out the most. Coincidentally, they were also the ones setting up, of course I licked my chops and got ready to make some money.

LEND

I entered short on the break of the fourth bar. Made a fake move but then I get stopped out. No harm done.

WRNC

At the same time I got into LEND, I saw a shorting opportunity for WRNC. Of course I Got excited because both were making moves in my favor at the same time. LEND getting stopped out brought me back to reality. Still, no harm done, because at least WRNC made an initial move. The bad thing is that it didn’t allow for me to move down my buy stop order. No problem.

HSP

Break of the fourth bar again. Sweet, I’ll know right away how my day will be. I have a short stop at 36.53. So it breaks, my system puts the order. Then nothing. Stock goes down ten cents which is normal. If the stock is going to tank i don’t expect to get as good a fill, so i don’t mind the extra ten or fifteen cents. Still nothing. Stock goes down to the thirties. Still nothing. It’s in the mid twenties. At this point it still hasn’t gotten filled. I’m broke, so I’ve only been useing 100 share lot sizes. 100 shares. I checked the time of sales. There were upticks at around the .50 level and the .40 level. I would have taken a 35.38 print, I don’t care. For whatever reason I didn’t get filled. At around the twenties i simply decided to cancle my order. Even though a stock is trading at over 10 times it’s normal volume, maybe it’s just not liquid enough for me to get a fill. I must have waited for about three minutes to get filled. I’ve never waited that long to get filled. I don’t know if it’s because is sent the order through SDOT, which I can only assume is faster than ARCA for NYS stocks, but if someone knows, please clarify. Also my time of enforcement was IOC, which is the default setting on this platform which I have just started trading. In either event, I didn’t get filled and of course the thing went down to 34. That was the trade that was going to make me 2 points, and make me positive for the week. Instead I’m left talking to myself , or worse, writing on this blog in utter disgust and disbelief. Well needless to say i moved my stop on WRNC to breakeven, since it’s bad enought that i’m going home a loser on a day I’m supposed to make money. Of course I got stopped out, but I would have gotten stopped out anyways. Right now this sucks, but in the big picture, just another minor setback.