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Tuesday, September 14, 2010

Pondering a goal

Nothing new with respect to the market. Yesterday's thesis is still in play. (I did take the opportunity to add to the SP500 protection early afternoon.)

As I was driving home from work today, I realized I need to establish a market goal. Last week I posted a grammatically horrifying write up about having too much to do at the moment. Because of this, I think I allowed myself to miss opportunities. (IE missing the recent market short, not trading DNDN from the 35-36 level, not going long GS around 140, etc) These oversights were most likely facilitated by the way I measure my performance. With trading, I always measure myself on the day-to-day, and not on a structured goal. This facilitates to not take action on the actionable. (if that makes any sense at all)

I purposely do not have a target number because by having a target it may skew my judgement when to sell a position. It may lead to a very negative characteristic of not selling when I am suppose to, or hoping something develops verse trading off of the information I have.

There is no room in this game for a lack of discipline or 'hope' for something to happen.

With that said, the positive of having a very public goal is that it will allow me to focus my evening reviews, pay more attention and act.

So here it is...

Goal: A combined portfolio gain of 185% in 4 months. (Start Sept 15th, 2010-to-Jan 14th, 2011)

(I will still be very disciplined in my approach regarding the powder I utilize to maintain a level of flexibility.)

A move I am looking for...

If the market does correct, AAPL may see its 10SMA on the daily chart. If AAPL approaches high 250s/260, I will enter.

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