OREX
01/05/17 2:09 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:14 PM EST Buy 500 OREX Executed @ $3.28
01/05/17 2:29 PM EST Sell 300 OREX Executed @ $3.84
01/05/17 2:29 PM EST PDT Qualification Warning
01/06/17 7:00 AM EST Sell 400 OREX Executed @ $3.78
01/06/17 8:46 AM EST Sell 300 OREX Executed @ $3.65
Locked in profits as soon as E-trade allowed me to. I saw a bid at 3.78 since 6am and waited anxiously till I was able to lock it in. As soon as I took profits, I felt relieved and was able to let the next trade work out a little bit more.
16mins into open and no spike. ETRM is has everyone's attention and OREX will prbably fade off. A HUGE seller at $4 anyways and if there's no volume now, it probably wont break past 4 today so took profits prior to it hitting my stop loss at 3.5.
ETRM
Missed the nice entry in the morning yesterday. I was watching OREX, ETRM for an end of day buy. OREX exhibited the expected pattern so I went in with ETRM. Looking back ETRM had a VERY TINY Float as well a high short %, It didn't show higher lows until the last 1-3mins where it broke out of key resistance. Although I would've liked to have been in the stock. There was no realistic/good entry point til exactly the last minute of the day. Stock spiked above PM highs, That would've been a higher high but no printed lower low.
Dam thing spike up to 5's aftermarket and eventually squeezed shorts/rotated the low float so much it squeezed to 9$ the next day. Coulda doubled my money overnight or quadrupled my money in 2 nights, the question is though. How big would've been my position size? I can't stop thinking about how I could've doubled/tripled/quadrupled my money but I shouldn't be thinking about how to make profits and instead how to mitigate my risk. Those that are chasing madly and going big will get hurt later on if they keep it up. They might've won this time but it is just rewarding a bad habit. I have to remember that trading is a marathon and not a sprint.
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