Up 4% in by 11am down 1.4% by the close

Today was a wild day for the markets. My over the weekend position TYH - long tech traded positively in early morning. I was up nearly $1,700 on the position but didn't take profits. The prudent thing would be to take profits in a correction phase on a position you're up 7% in a short period of time but this is not a short term trade idea. I am positive on Technology specially after strong earnings from Tech stocks like Cisco, Apple, Intel, and other related tech stocks. If i can get in early before the major move after the correction ends i can make over 20% return. For that reason i didn't take my $1,700 profits.

Early in the morning i took a long position of 500 on CLF. At one point during the morning i was up $400 in profits and again i decided not to take profits. I ended up closing the position for an $80 gain. I was under the impression that we were done with the correction so it was safe to take long positions and obtain a significant return, i was proven wrong by the markets. Right after i closed my position i was flirting with the idea of shorting the stock but after giving away $400 in profits i decided to step away from the computer. Painful decision since the stop closed down (4.0%). Oh well i need to learn from these mistakes in order to improve my day trading activities.