What a ride today, I've been alternately patting myself on the back and kicking myself all morning.
I've been in and out of COIN all morning and worrying the whole time. Selling too soon and fretting at every little drop. It's been a wild ride but here are the trades so far.
COIN In at $11.84 and out at $12.89
In at COIN $13.40 and $13.20 and out at $13.30 and $13.45 here I took larger than my normal positions and had some tense times waiting for it, while it bounced around all over the place.
Lesson: Don't get over excited and pile too much of your capital into a trade no matter what, it's very tense and if you bet wrong you are truly screwed.
In again at COIN $12.50 and out at $12.82.
Overall my best day trading, I love the market when it's playing on my team instead of against me.
Monday, January 14, 2008
Friday, January 11, 2008
Day 8
Played the opening run up of ETFC this morning once it broke $3.10 I was able to get in at $3.15 and get out again when I saw resistance when it hit $3.25 so I sold at $3.23 for a nice little gain, it's now trading in a very narrow range so I'll see what happens latter in the day.
I've found nothing else interesting so far so we will see how the day plays out.
Good trading everyone.
I've found nothing else interesting so far so we will see how the day plays out.
Good trading everyone.
Thursday, January 10, 2008
Day 7
Tried to short ESLR shortly after the open but stupid ETrade does not have shares of any of the solars so I tried to play a moment of strength in the stock and bought at $16.06 with a trailing stop at 15.70, it bounced but not enough and I got stopped out at $15.77 so I'm down a bit on the day.
Nothing else is looking very good at the moment so I'll see how the day develops.
Bought some ETFC @ 2.94, it's strongly up with good volume, I'll follow the momentum and see where it goes, I'm going to put a tight stop on it though. Probably $0.20 or so.
Sold ETFC at $2.995 it's trending down slightly, I'm going to try for a better entry.
Back in at $2.92 some resistance at $2.90. Got stopped out at $2.85, momentum going the wrong way, going to watch for it to crack $3.10
In again at $2.72 out at $2.73, can't seem to find the rhythm.
Back in @ $2.90 back out at $3.05
Not a bad day overall, I'm going to be watching ETFC tomorrow at the open to see if it can crack $3.10 and then I'll pile in again.
Nothing else is looking very good at the moment so I'll see how the day develops.
Bought some ETFC @ 2.94, it's strongly up with good volume, I'll follow the momentum and see where it goes, I'm going to put a tight stop on it though. Probably $0.20 or so.
Sold ETFC at $2.995 it's trending down slightly, I'm going to try for a better entry.
Back in at $2.92 some resistance at $2.90. Got stopped out at $2.85, momentum going the wrong way, going to watch for it to crack $3.10
In again at $2.72 out at $2.73, can't seem to find the rhythm.
Back in @ $2.90 back out at $3.05
Not a bad day overall, I'm going to be watching ETFC tomorrow at the open to see if it can crack $3.10 and then I'll pile in again.
Wednesday, January 9, 2008
Day 6
I bought SHBK at the open for $18.00 before I noticed the volume at the time was only 1400 shares. They were up big on the news they would be bought for $22.00 per share so I figured it was a no brainier. I looked for it to spike quickly to 21 or 22 and when it did not I looked at the volume and saw my mistake - Lesson = don't buy thinly traded stocks. It all worked out alright and I sold at $18.75 a few minutes later and it's still trading in the 17.50 to 18.50 range, for a patient investor it's a sure winner from 18 to 22 for an 18% gain in a few months as long as the deal goes through but I'm not that patient.
Shorted that bastard ITMN an hour or so after the open at $17.8405 and closed it when it started trading sideways so I did not make much but I learned my lesson yesterday. Lesson = if it's not moving don't wait for it, take the small gain or loss and move on. Waiting is how I got killed on it yesterday. Covered for a small gain at $17.655.
What a boring day so far look at the top percentage gainers chart.
Look at those pathetic volumes, the one with decent volume is at $76.75 and it's to rich to trade for me, can't buy enough shares to make a dent in my portfolio value.
Shorted LYTS at $10.1909 fell to 9.20 but i was slow and it reversed on me so I got out at $9.7754 still a nice little gain.
That got me thinking so I bought it again on it's way up at $10.398 and sold it a few seconds later for 10.6245 should have held a bit longer though it's now above $11.
Tried LYTS again when it broke $12.20 but it was a fakeout not a breakout and I had to cover at $11.70 but still overall a good day.
Good trading.
Shorted that bastard ITMN an hour or so after the open at $17.8405 and closed it when it started trading sideways so I did not make much but I learned my lesson yesterday. Lesson = if it's not moving don't wait for it, take the small gain or loss and move on. Waiting is how I got killed on it yesterday. Covered for a small gain at $17.655.
What a boring day so far look at the top percentage gainers chart.
Look at those pathetic volumes, the one with decent volume is at $76.75 and it's to rich to trade for me, can't buy enough shares to make a dent in my portfolio value.
Shorted LYTS at $10.1909 fell to 9.20 but i was slow and it reversed on me so I got out at $9.7754 still a nice little gain.
That got me thinking so I bought it again on it's way up at $10.398 and sold it a few seconds later for 10.6245 should have held a bit longer though it's now above $11.
Tried LYTS again when it broke $12.20 but it was a fakeout not a breakout and I had to cover at $11.70 but still overall a good day.
Good trading.
Tuesday, January 8, 2008
Day 5
Got a stupid case of the nerves on ITMN and sold near the bottom of the day at $18.055 for a tiny loss, stupid play, I deserved to get burned but the pre market open was ugly and then the open was bouncing down too low for comfort.
I'm back in it again @ $19.26 to see if I can get a quick few ticks from it.
Sold out at $18.99 I waited all day for it to break it's high of 19.61 but with no luck, let it run a bit and it cost me for the day but it's way to scary to hold it overnight.
Really Really pissed at ETrade about no shares to short on AKNS, that was the play of the day and I missed it because they had no shares of any of the solars, seriously thinking of switching to Think or Swim.
Ugly day.
I'm back in it again @ $19.26 to see if I can get a quick few ticks from it.
Sold out at $18.99 I waited all day for it to break it's high of 19.61 but with no luck, let it run a bit and it cost me for the day but it's way to scary to hold it overnight.
Really Really pissed at ETrade about no shares to short on AKNS, that was the play of the day and I missed it because they had no shares of any of the solars, seriously thinking of switching to Think or Swim.
Ugly day.
Monday, January 7, 2008
Day 4
Bought SEED @ 11.03 on the morning upswing at what looked like a breakout but it punked me and I got out at 10.424 for a loss.
KONG hit a trailing stop at $6.0891 for a small gain from Friday, overall down for the day.
Sitting on the sidelines for now, see if there is anything I want to play into the close.
Bought ITMN @ 18.07 near the close, good solid volume all day, should have momentum in the morning.
I'm really pissed at E-Trade today, tried to short SEED, HOKU, CSUN and AKNS but they said no shares available. I know think or swim had shares on all but CSUN according to another BLOG. I'm thinking about moving to another broker, we will see.
Added some more money to my account since it looks like I'm going to be labeled a "Pattern Day Trader" this stupid rule of the feds to protect you from your self does not let you make more than 4 day trades in a 5 day span and since I set stops on all my trades there is no way I can trade without it. I plan on overnight trades but it does not allways work out as you can see from the trades below, so since I had a few more bucks hanging around I decided to use them to get over the limit.
That's it for now.
KONG hit a trailing stop at $6.0891 for a small gain from Friday, overall down for the day.
Sitting on the sidelines for now, see if there is anything I want to play into the close.
Bought ITMN @ 18.07 near the close, good solid volume all day, should have momentum in the morning.
I'm really pissed at E-Trade today, tried to short SEED, HOKU, CSUN and AKNS but they said no shares available. I know think or swim had shares on all but CSUN according to another BLOG. I'm thinking about moving to another broker, we will see.
Added some more money to my account since it looks like I'm going to be labeled a "Pattern Day Trader" this stupid rule of the feds to protect you from your self does not let you make more than 4 day trades in a 5 day span and since I set stops on all my trades there is no way I can trade without it. I plan on overnight trades but it does not allways work out as you can see from the trades below, so since I had a few more bucks hanging around I decided to use them to get over the limit.
That's it for now.
Friday, January 4, 2008
Day 3
Tanked out of SATC at $2.06 for a 0.22 loss, that one stung like a bitch because I should have never made the play, but it's a process like any other so I took my hit and moved on.
Shorted LOOP this morning at $12.70, no support anywhere but I'm just looking for a quick in and out on this one.
Shorted KONG @ $6.43, up on dubious news and with the market weakness I think I can get a quarter from it and get out. Decided to keep it over the weekend since it has not really moved one way or the other, hope not to get gapped on Monday.
Covered JBLU at @ $5.24 nice gain but it was just kind of sideways trading and I lost patience with it.
Opened NG at $11.38 long on the appeals news, hoping for a short squeeze.
Covered LOOP at $13.04 on uptrending.
Covered NG @ $11.99 hit a trailing stop but still a nice $0.61 gain.
Thinking of shorting OSIR on their bullshit news but I can't decide yet weather I have the Guts.
Well I did not have the guts to pull the trigger on OSIR even though there giant contract is really only 4 million a year and the rest relies on them getting FDA approval for a new type of drug, which as we all know is a hit and miss process at the minimum.
Am overnight on my KONG since it traded sideways all day so I thought I would see what Monday will bring.
Good trading everyone.
Shorted LOOP this morning at $12.70, no support anywhere but I'm just looking for a quick in and out on this one.
Shorted KONG @ $6.43, up on dubious news and with the market weakness I think I can get a quarter from it and get out. Decided to keep it over the weekend since it has not really moved one way or the other, hope not to get gapped on Monday.
Covered JBLU at @ $5.24 nice gain but it was just kind of sideways trading and I lost patience with it.
Opened NG at $11.38 long on the appeals news, hoping for a short squeeze.
Covered LOOP at $13.04 on uptrending.
Covered NG @ $11.99 hit a trailing stop but still a nice $0.61 gain.
Thinking of shorting OSIR on their bullshit news but I can't decide yet weather I have the Guts.
Well I did not have the guts to pull the trigger on OSIR even though there giant contract is really only 4 million a year and the rest relies on them getting FDA approval for a new type of drug, which as we all know is a hit and miss process at the minimum.
Am overnight on my KONG since it traded sideways all day so I thought I would see what Monday will bring.
Good trading everyone.
Thursday, January 3, 2008
Day 2
Well here is how the day went. I was up beautifuly in the morning and had my stop's set, as you can see below I got stopped out of DSTI but still for a nice gain. I'm waiting to see what tomorrow brings, I'll play it either way if there are shares to short anyway. Tried a couple of shorts during the day and ETrade had no shares so I did not track them becuase I did not want to know the results.
I lost my nerve waiting for JADE to break lower and just said the hell with it and took the gain because I got greedy with SATC (and wanted to lock the profit if SATC tanked) after seeing it gap with big volume and I thought that more volume would follow but so far it's not looking good. I'm long overnight with it becuase stupidly I was not watching the clock and missed the close so we will see what the morning brings, a nice gap up will make it great or a gap down and i'm a goat but that's the breaks. I should have waited for it to break 2.50 before my entry but It's a lesson I'm going to keep in mind more firmly.
I continued to hold JBLU for a couple of reasons, before I decided to trade instead of invest I lost a bunch by buying JBLU long at 15.3 after reading a bullish fool article on it and buying into the arguments. I dumped it at 6.73 for a stinging loss and when I was looking for plays I said what the hell, perhaps I can make up for some of the skin it took for me. Yes I know it's not a valid reason for a trade but it's been trending down for a while now and with oil spiking I figured it was a good copule day trade. We will see how it looks tomorrow.
Good luck weather your short or long.
Holding overnight Long SATC @ 2.28.
Trailing stop triggered to sell DSTI @ 7.18 for $0.63 gain.
Bought to cover JADE at 4.78 for $0.57 gain.
Holding JBLU overnight again, closed at $5.44.
I'm up a bit on the day but it could have been a great day so I'm kicking myself right now but the wonderful thing about the stock market is that there is always tomorrow if you have capital left.
I lost my nerve waiting for JADE to break lower and just said the hell with it and took the gain because I got greedy with SATC (and wanted to lock the profit if SATC tanked) after seeing it gap with big volume and I thought that more volume would follow but so far it's not looking good. I'm long overnight with it becuase stupidly I was not watching the clock and missed the close so we will see what the morning brings, a nice gap up will make it great or a gap down and i'm a goat but that's the breaks. I should have waited for it to break 2.50 before my entry but It's a lesson I'm going to keep in mind more firmly.
I continued to hold JBLU for a couple of reasons, before I decided to trade instead of invest I lost a bunch by buying JBLU long at 15.3 after reading a bullish fool article on it and buying into the arguments. I dumped it at 6.73 for a stinging loss and when I was looking for plays I said what the hell, perhaps I can make up for some of the skin it took for me. Yes I know it's not a valid reason for a trade but it's been trending down for a while now and with oil spiking I figured it was a good copule day trade. We will see how it looks tomorrow.
Good luck weather your short or long.
Holding overnight Long SATC @ 2.28.
Trailing stop triggered to sell DSTI @ 7.18 for $0.63 gain.
Bought to cover JADE at 4.78 for $0.57 gain.
Holding JBLU overnight again, closed at $5.44.
I'm up a bit on the day but it could have been a great day so I'm kicking myself right now but the wonderful thing about the stock market is that there is always tomorrow if you have capital left.
Wednesday, January 2, 2008
Day 1
Decided to try trading instead of investing for a change of pace. I'm loosely following Tim Sykes methodology with variations. Tim has some good ideas you can check out here www.timothysykes.com.
Short JBLU @ 5.75 Overnight Holding
Short JADE @ 5.35 Overnight Holding
Long DSTI @ 6.55 Overnight Holding
We will see what tomorrow brings.
Short JBLU @ 5.75 Overnight Holding
Short JADE @ 5.35 Overnight Holding
Long DSTI @ 6.55 Overnight Holding
We will see what tomorrow brings.
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