MTBC SHOR CDXC CNAT are on watch for Friday. All are up in after hours trading. MTBC may squeeze the shorts out early and make a run. CNAT may not share the same fate, but if it has a nice morning spike its gonna get interesting. I'd like to see SHOR & CDXC up .30-.40 before the morning is out.
Working on finishing Trading Tickers before next week trading starts. I'm just about done with confessions of a street addict ... a ton of great lessons in this book. Thanks Tim for the recommendation.
My second full month as a challenge student is coming to a close. I traded 13 times this month 6/13 were green and I'm up $474 in profits for the month. I started getting a little sloppy as I increased my position size mid month, but I've tightening things up the last few days. I'm very excited about what May will bring.
Got into CATB 4/19 on a dip after news that they would present at a conference the following week.I intended this to be a day trade, but the vol dried up and the stock wilted -.02. I decided to hold as long as it didn't break key support, and the news outlook seemed positive. The day of the conference I was running late, got stuck in traffic during market opening, and missed my long awaited spike to 2.05 at open. This turned a $340+ profit into a $49 loss.
Lesson: If the stock doesn't react like you think it should then get out. I expected the stock to move higher w/vol into the morning and move sideways through the afternoon on news. It didn't, it wilted and fell .16 over the next week.
Lesson: A lot happened in the market during that 5 day period when my cash was locked up in a flat trade. I let 20% of my portfolio sit on the sidelines for a week ... forced me to sit and watch the plays go by while I waited on other transactions to reconcile.
Lesson: Always be prepared and ready when the market is open ... expecialy when you have money in play. Waited 5 days for this and then you miss the exit ... what a chump. Watch your schedule and take measures to protect your profit and guard against losses.
Lesson: These are some sketchy companies looking to get money. CATB filed an ATM stock issuance for $10M with the SEC. They sold it all into strength above 2 as the stock rose to 2.05 then quickly returned to 1.44 before the afternoon was out. Tim G shared this fine point with us during his webinar. You have to watch these guys and their PRs/SEC filings/other news.
I didn't update my watch list this week, and tried to trade around a (somewhat) hectic schedule. I missed a couple of key entry and exits ... the entries aren't so bad (there will be more plays tomorrow. However, the exits cost me on two trades.
Lesson: sell into strength. CYTR (.04@sh) w/a larger position ... was up .22,but got stuffed at .99 and fell back. I sold into weakness on the way down. Tim says to watch key resistance points (including hole/half $) and sell into strength. I held too long, but I got out before the trade went negative.
Lesson: Always be prepared and ready when the market is open. Swing trade on CALI entered during power hour move ... price/vol trending up after an afternoon of consolidation. Next morning got to the desk at 9:15. Started everything up, got a fresh cup of joe, then noticed my lvl II data wasn't streaming. Frantically restarted my trading software as the market opened. I missed my early exit at a profit ... watched a panic sell off down .59 ... and an agonizing fight against shorts to a 3.30 exit
Monday is a long way off, but I'll be watching CNAT, ADPT, VRAY, and VSTM when the market opens.
VSTM was the winner today, traded between 1.90 - 2.15.
CBLI was not on my list ... big news and a big b/o! CBLI was up 3.19 for the day with a crushing squeeze into the close. It gained .90+ in the last 30 min. I missed most of the day, and was catching up when this thing started running late afternoon. It was great to study this real-time.
I traded CNAT (+.47@sh) and CATB (-.07@sh) this week. CATB was from Tim's watch list. It was crazy, there were too many stocks in play. By the time I came up with a plan the meat of the move was getting too small to enter. I resisted the chase.
All the markets trended down this afternoon, and price action didn't seem right to me. I all most traded NADL when it threatened 2.40 heading into power hour, but canceled the trade at the last second. I walked away and spent some time reading the Confessions of a Street Addict. I circled back to see how the market closed. NADL was down .30 and closed at 2.10, and VRAY squeezed the crap out of some shorts rising from 7.41 to 7.82 due to news of insider sale of stock and separate finance adjustment w/long-term det.
I traded twice this morning. This was the second time I've done that however, this time I didn't have two trades going at the same time. CIE and GALT at the same time last Thurs was a bit much.
PLUG - 4/13 - The market was down at open then picked up. PLUG was following the market. 1 red candle then three solid green w/growing vol. I bought into strength, but it turned downward and I cut losses early.
ADPT - 4/13 - I missed this play yesterday, but got in fairly early on the move today. Unfortunately I held it past the top looking for that next pop...it was early in the first hour after all.
CNAT was in my cross hairs Monday am, but family needs pulled me away at open. Missed the meat of the move, so I didn't trade it. Another one got away, but there are always more tomorrow.
Join now or log in to leave a comment