First for my Retard Trader recap for today, than onto my Vegas weekend info.

Slow.  Not the day’s trading, just me.  Though in an unusual way, I’m slow phsysically today, not just mentally.  I think that I caught something in Las Vegas (besides a losing streak that I hope to beat off — in the voice of Butthead “heh, heh, I said ‘beat off’).

Not much to say here.  I messed up the GOOG exit and though that bugs me, it’s alright.  I’ll continue to trade even though I did mess that up.

This is really unlike me. I’m holding positions and not acting.  Really, really bad.  I should have ditched BIDU today since it was under $400, but I didn’t.  Tomorrow will I pay for it?  I’m holding a paper loss, but not yet afraid.

The tech sector which was heated up is more like a simmer and might actually be cooling down for the day.  There has been some consolidation and weakening here.  RIMM is leading the sector downward right now, let’s hope BIDU follows it.

There’s a lot of strength in the technology sector, which is where I have some puts (BIDU, AAPL).  This of course makes me a little confused, as having calls and puts shows either unknown direction prediction (that’s me) or a clue of some sort of specific direction for a specific stock.

It only took one downgrade from a relatively lesser-known company, Morgan Keegan, for RIMM to show it’s relatively overbought position and have a nice drop this morning (from 5% down to 7% down).  At this point there was another firm that was forced to come out.

I didn’t make any moves today, but I am happy that what I thought was a bunch of bad positions wound up not being as bad as I originally thought. You can see my original post this morning pretty much predicting a bad day. Well, after a terrible commute to work…

Today wasn’t the worst day I’ve had, but since the competition is not to lose my money faster than Lindsey, I’m not doing well.  Hopefully tomorrow I’ll have some more BP (buying power) and will catch a good deal or two. 

This morning started out as I thought it would, punishing me for having puts and not calls.  RIMM opened up way higher than I would like, even for just selling for a loss.  So the idea is to watch as we might have had a top for the day and hopefully the reality will set in and the market will head lower.

Resistance for the Russell 2000 (IWM) is a little below $76 so unless that resistance is hit, I’ll be holding my puts for a couple days minimum or until a profit is made.

Alright, that’s a really old TV game show.  Whatever.  Anyway, I figured that today was just a bloated move upward and wouldn’t continue, so I decided to buy puts against the Russell 2000.  Smart?  Maybe, maybe not.  I’m just here to make money though so this is probably a good idea.