Bought SLX at 73.72, sold at 72.57

Bought on 2/28/11
Channel(5) 77.80-70.39=7.41, 1/3=2.47
Stop 72.57, loss 1.15
Size 20 shares
Risk $23
Target 76.19

Notes: I was a little late to the party.  I placed my first buy order at 3:30 PM for 73.52 when the ask was 73.56 and ended up raising it three times until finally buying at 3.58 PM.

Sold on 3/1/11 at 72.57, when my stop got hit.  I had placed my stop at the low of two days ago. Today the market took a beating and SLX did too, along with the rest.  This trade did not work out at all.

One important note, again, KNOW WHAT YOU BUY.  This ETF is an index of steel-related stocks, not exactly a commodity, so it tends to move a lot with the equity market. Other commodities did relatively well today. The other one I had intention to buy was JJG, and it went up 0.4% today.