After handling my over night position in $SHZ from Thursday very poorly by selling pre-maturely; I took a long position in an over extended stock $CAAS (it was up over 30% on the day) with the markets trending down all day and with no day trade in hand (which meant I would have to hold over night no matter what!). This is the epitome of poor trading. Now I am stuck in a position with potentially my biggest loss to date. Had I had a day trade; I would have cut this position off a long time ago for an acceptable loss despite the overall poor set up as described above. So now I am hoping to get out of this poor trade for a reasonable loss on Monday and then go back to some solid trading. LESSON: Do not put trades on with no day trades in hand!
WATCH LIST
I like all of these set ups but my favorite is $UCBI. Looking forward to a great week next week...Good luck and good trading!
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