Trade Recap 05/05/14

Pretty annoyed with myself - could have had a great day had I stuck to my rules as I have done so maticiously last week, instead I decided to break ALL my rules today and short $HDY waaaaaaay too soon and I (again) didn't cover quick enough. Used too much size, made revenge trades etc. Need to be extra careful on Mondays where the rules aren't so fresh in my mind... blargh
With these big movers, it's best for me to actually be long biased in the AM and stalk them for weakness in the afternoons only (unless they're plain pump&dumps) as they just keep schooling me; 

Finished down $3000 or so. I am actually rather psyched and optimistic, as annoying as it is to have one day erase a whole week's worth of earnings, I have learned a valuable lesson ...

Lessons:
Stop being so short biased ... this was such a bullish setup

Also have a pain threshold - if I'm down more than $1k on a stock I should get out and move on.

Trade Highlights:


$PTSX +$330 - had some o/n and added on a bounce to .73
$HDY -$4000? - Apart from what I've gone over above, just poor planning and execution, too short biased, not covered quickly enough, you name it. I started in at 2 and added 2.25, 2.50 

At this point it started topping out at 2.50, so I added some more; only decent thing I've done was cover at 2.70s (second time it got there) - at $4 that loss would have been catastrophic; 

$PGFY +$210

$FNMA +$337  on that late day surge of vol on news

$FMCC +$200 and took 1k o/n