DANG- Short 500 at 6.84 0941am, This stock gap'd up previous day by 75 cents and dropped 40cents within the first 15mins. Although the chinese markets rallied, this stock was alrdy downtrending beforehand. Since it gapped up as well today, thought'd i'd short it.. Entry was lousy, i should've had it on the bounce, instead i got in at the low prior to the 3rd bounce. Covered at 6.9 for a 6 cent loss whn i saw it holding. Will put an alert and re-short once it breaks the day's low (coincidentally at 6.84
Short 1000 at 6.82 1140am. Finally an awesome entry, i'mma watch level 2 to see if it breaks 6.70, if not prolly cover. 1229am it breaks below 6.7 which was yesterday's low, Imm'a hold until 6.5 and see if it breaks july 8's close. Covered at 6.55 at 1255 for a 27c gain. 270$, finally. Will be on watch list for nxt wk. Will short if strong downtrend and below 6.5. next resistance is 6.3 which is it's multi-year low.
^Hindsight review July14: I didn't have an exit strategy, previous day's resistance was at 6.94 and i covered under it in the AM, >_< Had i had an exit strategy i would've held for that play in the mid-day. 10cents risk for a 10cent upside+whatever it broke down to.
Short 1000 at 6.82 1140am. Finally an awesome entry, i'mma watch level 2 to see if it breaks 6.70, if not prolly cover. 1229am it breaks below 6.7 which was yesterday's low, Imm'a hold until 6.5 and see if it breaks july 8's close. Covered at 6.55 at 1255 for a 27c gain. 270$, finally. Will be on watch list for nxt wk. Will short if strong downtrend and below 6.5. next resistance is 6.3 which is it's multi-year low.
^Hindsight review July14: I didn't have an exit strategy, previous day's resistance was at 6.94 and i covered under it in the AM, >_< Had i had an exit strategy i would've held for that play in the mid-day. 10cents risk for a 10cent upside+whatever it broke down to.
KONE- Bought 500 at 6.87 with tim's buy alert. It was a higher low, but had a double top so was trying to dip buy. However, it dropped below the day's low which should've been my cue to GET OUT, instead i re-bought 500 at 6.74 to average down, Within 5 mins it had 2 lower low's, I cut my losses on the 2nd bounce, still too slow, but way faster than yesterday. KONE opened at 7 from yesterday's close of 4.5. I don't have any idea what this company is about except for tim's buy alert and of good news on a 100$mil contract. Thinking about it, Althought this is good news, this company is actually overextended and should be a short. I tried to short, but it was on a dip and covered when i got squeezed like an idiot. I need to set targets prior to the trades and i haven't consistently been doing that. Still tried to buy long even though it was against my gutt feeling. No matter what the catalyst, it should be PRICE ACTION that prevails, that and the overwhelming fact that its overextended. It's fighting around the 6.2-6.3 area. If it breaks down below 6.2 which is a 3time year long resistance, i'll short big with the aim of watching level 2. If it hold's at 6 i'll cover for a 10-20cent gain or if it breaks, the next resistance is 5.50. so it's a 10 centish risk for either a 20cent-70cent reward. Anyways, came in late whn it broke down 6.2, did good by waiting to short on a bounce. Short 2000 6.05.. crappy entry, risk/reward is even at best but if it breaks 6. It's one-sided in my favor. Position is unrealistic but overtraded in the morning, need to start focusing on less trades and choosing only those that have high risk/reward ratios. Watched it break 6 on level 2, risk/reward ratio is now in my favor.. Will hold and cover at 5.5 if it shows signs of holding. Wasn't watching when it tested 5.5.. Covered at 5.69.. A whole 19cents !! lousy, lousy exit.. 720$profit.. coulda should woulda covered at 5.5ish for a total of 910$ but not complaining. Covered my losses from overtrading in the morning. Good stuff.
^Hindsight review July14: Downtrending, nothing interesting, might breakdown below it's day high prior to the earnings results but i shouldn't care cuz volume sucks and shorting on earnings is bad, BAD, BAD.
^Hindsight review July14: Downtrending, nothing interesting, might breakdown below it's day high prior to the earnings results but i shouldn't care cuz volume sucks and shorting on earnings is bad, BAD, BAD.
POWR- Admin alert late afternoon of POWR having a new 100$mil contract. In 20mins ran fron 14.25 to 15.57. I know it's bad to chase but i chased it. 100 at 14.87, 200 at 15.11, 300 at 15.39, Sold 600 at 15.36. No regrets chasing it since i was trying it out, only bad thing was i sold on a dip. It's a the same high as back in 2007. Tried to buy in 300 right under the day's highs, stupid me still never learn to only buy AFTER the breakout. it was a double top and lost 10cent's covering into the close. Although uptrending late afternoon, woulda held o/n if it broke the day's high. Will watch on monday to see how price action is and have feedback if whether it was better to hold over the wkend or not. Might buy on a breakout of a spike on the bounce.
^Hindsight review July14: It gapped up on monday and held the gains. On Tuesday, it closed above its open but it's downtrending and broke support on the previous day's highs.
^Hindsight review July14: It gapped up on monday and held the gains. On Tuesday, it closed above its open but it's downtrending and broke support on the previous day's highs.
SGYP- Tried to go long as it's uptrending but daily price action sucks, it's better for a multi-day hold vs intra-day trade, which i have no experience on yet. I shoulda held since it's bouncing on a multi-day downtrend. Will monitor. My guess is that it'll uptrend all nxt wk until it tests 10$.
^Hindsight review July14: I'm such a boss.. 3trading days later and it's uptrending from it's low 8.65 and currently at 9.48, potential buy on breakout at year high of 10.ish.
ENZN- Yet another biotech play, Up on news but a good short next wk since biotech stocks haven't been holding their gains well at this market, it's at 3rd resistance yr long high. Has a tendency to have a double top then crash back down. This is a Known-Chart/Play. Will be watching closely nxt wk.
^Hindsight review July14: Sideways priceaction, i don't remember/can't find the "good news", anyways it's downtrending and not worth watching at all. July 9 was actually the day to trade, and july 10 was alrdy sideways action. Not worth watching/shorting since the risk/reward sucks.
TRUE- This is a GIVE ME and i missed it, Obviously losing so much yesterday, It should've been a main stock to watch. HUGE Rule and must learn from this for the future. Value buyer's spiked it in the morning, and i should've bought on the breakout of the spike. + knowing there will be shorts getting squeezed. 9.81-11.37 in under 20mins. tsk tsk.. coulda woulda shoulda 1k gain.
^Hindsight review July14: This is the best example i've seen of a chart getting overextended d/t a contract being dropped.
Did like 20 trades again today haha.. >_<.. The scalping strategies sucked as usual and it was well below 50/50. But the BIG trades that were ACTUAL Chart/plays paid off big time. I was 3/3 on the big chart plays, reinforcing that aim small/miss small, odds were on my side and risk/reward was on my side. KONE/DANG/POWR 3 trades made up for more than 14+ scalping losses. was down almst 800$ from the scalping losses but the actual chart plays covered the losses and i came out 100$ up on the day for the first time. It's becoming obvious that i need to spend 1-2hrs preparation time prior to the market open to see which stocks are worth watching and having systems setup to spotting which stocks are worth watching.
Goals for next week: It's pretty obvious scalping is do-able but is lower risk/reward and lower odds than Tim's chart plays/strategies. 20trades in a day is a joke since i'll be under the PDT forcing me to only have 3trades in 5days.. Next week i'll be limiting myself to 5trades a day max by tuesday. Aim small, Miss small and sticking to the actual chart plays will give me better odds/minimizing risk.
^Hindsight review July14: 5trades a day max (not including scalps) is on track. Will start focusing on 2 trades max by nxt time i get on the market.
^Hindsight review July14: I'm such a boss.. 3trading days later and it's uptrending from it's low 8.65 and currently at 9.48, potential buy on breakout at year high of 10.ish.
ENZN- Yet another biotech play, Up on news but a good short next wk since biotech stocks haven't been holding their gains well at this market, it's at 3rd resistance yr long high. Has a tendency to have a double top then crash back down. This is a Known-Chart/Play. Will be watching closely nxt wk.
^Hindsight review July14: Sideways priceaction, i don't remember/can't find the "good news", anyways it's downtrending and not worth watching at all. July 9 was actually the day to trade, and july 10 was alrdy sideways action. Not worth watching/shorting since the risk/reward sucks.
TRUE- This is a GIVE ME and i missed it, Obviously losing so much yesterday, It should've been a main stock to watch. HUGE Rule and must learn from this for the future. Value buyer's spiked it in the morning, and i should've bought on the breakout of the spike. + knowing there will be shorts getting squeezed. 9.81-11.37 in under 20mins. tsk tsk.. coulda woulda shoulda 1k gain.
^Hindsight review July14: This is the best example i've seen of a chart getting overextended d/t a contract being dropped.
Did like 20 trades again today haha.. >_<.. The scalping strategies sucked as usual and it was well below 50/50. But the BIG trades that were ACTUAL Chart/plays paid off big time. I was 3/3 on the big chart plays, reinforcing that aim small/miss small, odds were on my side and risk/reward was on my side. KONE/DANG/POWR 3 trades made up for more than 14+ scalping losses. was down almst 800$ from the scalping losses but the actual chart plays covered the losses and i came out 100$ up on the day for the first time. It's becoming obvious that i need to spend 1-2hrs preparation time prior to the market open to see which stocks are worth watching and having systems setup to spotting which stocks are worth watching.
Goals for next week: It's pretty obvious scalping is do-able but is lower risk/reward and lower odds than Tim's chart plays/strategies. 20trades in a day is a joke since i'll be under the PDT forcing me to only have 3trades in 5days.. Next week i'll be limiting myself to 5trades a day max by tuesday. Aim small, Miss small and sticking to the actual chart plays will give me better odds/minimizing risk.
^Hindsight review July14: 5trades a day max (not including scalps) is on track. Will start focusing on 2 trades max by nxt time i get on the market.
- Kaizen
