F*#$ ME! Yea, that’s how I feel today, as I’ve been on quite the bad stretch in the past 2 weeks. I was wrong about ASTI last night even though I did cut losses quickly. I was also wrong about GOL when I entered at $0.65 after it failed to breakout. Then, I was wrong yet again when I left to run errands and then returned to see this at $0.48. These past 2 weeks have been humbling and it’s no one’s fault but my own for not only breaking Tim’s rules, but also breaking my own rules as well. Back to the drawing board tonight guys! I’m not discouraged by any means. I’m motivated to get this right and turn things around. I will learn from these mistakes and move forward. That is all I can do right now. Hopefully you are all doing better than me. Here’s a recap of what happened with my watch list. Thanks everyone.
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HMY – As I said yesterday, this gapped up in the morning however it ended up fading most of the day before climbing a little towards the close. I want to see this get to $2 tomorrow. If I don’t see anything I like tomorrow, I will probably take a small profit and move on. This may be moving slower than I hoped for. Another gap up and nice close today. We’re getting close to the $2 range so I did end up holding my position today instead of selling. I will look to sell if this can get past $2, if not I will look to get out tomorrow.
ASTI – This had great earnings news today and spike over 100% premarket. It looks like this found resistance at $0.11, which is why I bought as it was trying to break out past $0.12. It ended up fading and then popping in after hours. In December, ASTI reached over 40 million shares. The next day, it went nuts up to $0.28 with over 70 million shares traded. I think this runs tomorrow into the $0.20’s so watch this. Well this didn’t go as planned and I ended up taking a small loss here. I lost a little more than I was hoping but I’m out and I would’ve lost money if I had held longer. After dropping in the morning, this pretty much just held and did nothing the rest of the day.
GOL – I called this nicely today and unfortunately I missed it. I saw this drop in the morning and decided to focus on my HMY position. Later on in the day I started following ASTI and couldn’t decide on whether to buy ASTI or GOL. I ended up buying ASTI and we’ll see tomorrow which would’ve been best but I think I made the right choice. OY VEY. Lesson learned but I got burned badly on this breaking not only Tim’s rules, but also my own as well. I chased this after the initial spike and drop thinking it would re-test HOD (and it did, twice) but failed. I thought it found support at $0.65, which was basically my entry price so I ended up running a few errands I had during the day. As I come home just before power hour, I see how much it’s tanked and still didn’t get out. I’m hoping this bounces back tomorrow as it possibly found support at $0.48. They did get upgraded with a PT of $1.25. Hope is NOT a strategy so if it fails in the morning, I’m out. I didn’t want to waste a day trade as this had already hit its lows when I noticed it.