Entry comments: Bought some of the overall market using bigger account, I feel like we're close to max panic here given the Fed stimulus and not a huge pop overnight with new virus cases, goal is to make $-10/share, nothing huge
Exit comments: I have no patience with this, took my roughly $1k here, moving so fast, still testing with my big account
Thank you.
Markets going down more, very glad I got out of my $SPY trade, good little test and $2k profit too, ZERO positions right now, this might get worse
Entry comments: Big account I bought 1,000 of SPY ETF as I feel we're close to market bottom, not sure how long I'll hold for, but I',m comfortable taking a trade in my big account which has just been sitting
Exit comments: LOL I tried to be patient but it's not my typical trade so I'll err on the side of caution and lock in the safe $2k, not saying this is definiely the bottom, just poking around and learning
It will be interesting to see if that level is a turning point and we get a bounce or if we break through it for real panic. I believe that you are playing off of the lows of Dec 2018 and that should be support. Very interesting.
Very interesting, I was shocked to see you touch an ETF of any kind but a good lesson for me to always keep an open mind. Great lesson, great trade Tim.
This was neat to see you trade $SPY It makes sense since it has gone down so much. Thank you. You are giving me an expansive education.
250k position Lol
That's good to see on a chart.
KBLB (5/3/19) Bullish indicators: -Former supernova -4/17 Contract win (double quote) - Multi-year b/o - Multi-year vol b/o -Gap up this morning Bearish indicators: -Already up 300% from pre-catalyst price -Potential multi-year double-top @ 0.264 (former supernova) Trade description: This stock came up on my radar a couple weeks ago when it was up 100%+ on this contract win catalyst: https://finance.yahoo.com/news/polartec-kraig-biocraft-laboratories-bring-130000302.html. It was very hype-y for their new spider silk. "The potential to surpass the current generation of high performance fibers", “Our partnership with Kraig has the potential to be as revolutionary as when we created the first performance fabrics made from post-consumer recycled plastics in 1993." The market proved that it liked this catalyst because of the multi-year vol b/o and supernova behaviour. Yesterday, the stock put in a new multi-year high at $0.25. I figured if the stock could b/o on large volume, it could go much higher. The morning of my trade, the stock gapped up. The $SPY, $QQQ, and $IWM indecies were all up big too. As soon as I saw the large 1M buyer push the stock to new multi-year highs, I set my buy to the maximum in my plan ($0.255). I didn't want to chase the b/o because I knew there was going to be resistance at the all-time high (former supernova high) of $.0264, so I didn't want to be too close to that level when entering. The stock got up to $0.26 on the b/o and then started to retrace a little. I held my entry price until it was finally triggered a couple minutes after the b/o. The stock came back down after my entry to cross back into the multi-year high b/o it had broken but then bounced back. The volume was quite strong for this b/o but could have been much more consistent. It topped out at the double-top high of the previous supernova. I wanted to see if it could test it again and possibly b/o, but it just couldn't. There was no real strong volume. Since the stock cracked back underneath the multi-year high b/o (but kept above my original stop level), I raised my stop loss level from 0.244 to the bottom of the retracement. If it made a lower low than that, I was going to get out instead of waiting for it to cross my original risk. This was a good call on my part. I set a MKT stop loss order because this stock trades OTC and I didn't want to have to chase weakness with LMT orders. As soon as my stop was triggered, the stock dropped down below my original risk level before I was actually executed. I was executed at the very bottom of this dip. A could seconds after the dip, the stock jumped back up to a reasonable spot to stop out. Those market makers got me good. What did I do well on? -I did well on not chasing the b/o, waiting for it to come back to me. I also did a good job of adjusting my stop loss level to conform with the price action. -I realized the risk of the double-top and planned accordingly. What mistakes were made? -I used a MKT STP order which caused me to get executed at a terrible price. -After reviewing this catalyst, it's not even a ""perfect"" contract win. The two companies are just joining forces to create this exclusive spider silk product. Trade stats: https://profit.ly/1Mwegy
Long on this, correct? Then why $-10 per share ... What I'm trying to understand is what does "minus" mean here?
Take profits good work!
Did you play your dip buy on this one? Wow, a big account. Thank you.
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