- RE $CNDO - COVER IMMEDIATELY WHEN THE STOCK IS NO LONGER FADING - IT WAS CLEARLY REBOUNDING (I HELD AND GOT LUCKLY, INSTEAD I SHOULD HAVE COVERD AND RESHORTED ...)
- DONT WAIT FOR IT TO DROP "ONE MORE CENT" SO YOU'RE COVERING AT A SMALLER LOSS - WHEN THE TRADE DOESN'T GO ACCORDING TO PLAN DON'T HOLD AND HOPE, JUST GET OUT
- RISK LESS ON THE NON-PERFECT SETUPS!!!
- FOR CHRIST/SATAN/ALLAH SAKE DON'T MAKE THESE STUPID AM TRADES!!!!!!
WOW what a day.
Played too big size today - need to reduce size, especially on the plays I'm not too confident about.
Good trading on $CNDO although one feels I should have made big $$$ on instead I was up $260; pretty soon I will need to take better advantage of these type of plays.
$ICLD I called perfectly, except my stop wasn't wide enough ... was confident enough in the setup to try twice - second time with half the position size. Had it been the same size I'd broken even, instead I was still down $250 on it.
Next week I will have to refocus, play smaller, and just try to be more disciplined.
Gappers: 0/1 -$50
$GLSO -$50
No gappers today - I might have to abandon this strategy as it's not been proving itself lately.
Longs: 0/0
None
Faders: 6/8 -$60
$CNDO up 25% on the day seemed to be fading with 2.25 support - anticipated the break at 2.26; second later it broke and hit 2.22; i've set my covers to 2.21 and 2.11; covered 2.21 and 2.19 for $95
Unfortunately I played way to big a size and this happened next:
Covered on the 11 break -$390
$CDNO reshorted at 2.20 and as soon as soon as it formed this pattern of bouncing it was no longer fading and I should have covered immediately; instead I was holding to see if it would drop more; it hit 2.25 at which point I was down 5c, and then started to drop back; i covered half at 2.21; Had I played smaller size I wouldnt have panicked so much when it spiked to 2.25 as 2.25 was risk here; a heart attack later it was fading again; covered 1/3 at 2.17 just above lod and held rest to see if it can make new lows; it had made new lows, covered on the way down 2.10 +$100
$ICLD after that big loss I tried again - it came back to about the same range, same idea. It got a bit spready after I shorted (a smaller position); covered 1/2 for 10c; the other half for 40c; this time it did exactly what I had planned for it the first time around ... +$120; it continued to fade past 10
$FPRX small as it was red on the day - however it was fading and it was still $1 above lows;
Covered for $10
$CNDO reshorted again as it made an eod move from 2.05 to 2.20; shorted 2.19 - coverd 2.15 for another $60
Grinders: 0/0
$None
Washouts: 0/0
$OPK washout breakout in 8.79 traget 9; out flat - it did move 10c higher but came back
Shorts: 3/5 +$80
$TWTR I have no explanation for it - right at the open I decided to short some... my mum must have dropped me on the head when i was a baby. -$60
$GNVC 500 at 2.30 near the open as it was looking weak and vol was drying; anticipating a g/r move; out for $15 when it started to climb back up
$GNVC again on a pop to 2.26 and failing to go green on the day - not perfect setup but felt I know how the stock trades well enough to take a short position; covered half 2.18; other 2.15 for $110
$UVE is this consolidating before the next move up or putting a top in? shorted some 12.26 and some more once it dropped under 12.25 at 12.22;
This is what it looked like a few minutes later:
$UVE then traded very lightly fluctuating from 12.10 to 12.20; I was trying to cover at the bid with little success - eventually covered in the 12 teens. +$80; a few minutes later it was fading away and tested 12.
$MODN looks like lower highs leading to a drop - stock been up big past 3 sessions; took some short 10.70 with 10.80 stop; covered 10.90 avg for -$50
This is what it looked like a few minutes later:
$GNVC 500 at 2.30 near the open as it was looking weak and vol was drying; anticipating a g/r move; out for $15 when it started to climb back up
$GNVC again on a pop to 2.26 and failing to go green on the day - not perfect setup but felt I know how the stock trades well enough to take a short position; covered half 2.18; other 2.15 for $110
$UVE is this consolidating before the next move up or putting a top in? shorted some 12.26 and some more once it dropped under 12.25 at 12.22;
This is what it looked like a few minutes later:
$UVE then traded very lightly fluctuating from 12.10 to 12.20; I was trying to cover at the bid with little success - eventually covered in the 12 teens. +$80; a few minutes later it was fading away and tested 12.
$MODN looks like lower highs leading to a drop - stock been up big past 3 sessions; took some short 10.70 with 10.80 stop; covered 10.90 avg for -$50
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