Slumpy day

The day was certainly not a stellar day for me, but then the market was soft in general. After yesterday's drop following the record high for the TSX of 15000 I shouldn't be surprised. I lost one position today for a small loss (-$44.90). It was close as the price just touched the $12.00 mark which is where my stop was set.

One thing that I always keep in mind is that the market doesn't care about me or my portfolio it just constantly moves according to the whims of all of the people... and programs in some cases...who are trying to make money. My 100 share position is of little consequence. It's not personal so I should not take personally. That is hard to do occasionally when it SEEMS that the market reached out to touch just me...down to the penny.

I must say though that this stock, Trilogy Energy Income Trust (TET/UN), was not really expected to perform well by me. I left the stop below my purchase price only to give it enough room to move upward as it does have some potential. I bought this one farther along it's up trend than I would have liked but that's what happens when I change the strategy slightly on the fly. In hindsight I should have cut it loose when it was around +$50 for me. One other thing that I could have done to perhaps stay in this position longer would have been to lower my stop to the 30 day Exponential Moving Average (EMA) . The price dipped to this line on May 1st in a very similar manner. I even looked at that line this morning and weighed the odds in my head of it repeating the exact same pattern. Ever since mid February the price has been close to the 10 day Simple Moving Average (SMA). Of course in hindsight dropping the price on the stop that extra 5 cents really would have made little difference...except I would still have the fund...but I do expect it to drop more tomorrow before perhaps moving back up.

I just remind myself that recognizing the error is the second step in learning from a mistake...the first is making the mistake.

I would drop a chart in here to show this a lot clearer but this BLOG is new to me so I will work on getting decent charts for future.

Friday now...by a few minutes. I usually try not to execute any new trades on Fridays so it should be a wait for the market to close and see where I am for the weekend. Gives me a break at the end of the week.

JD.