Monday, October 20, 2014


I don't like day trading but some days the just trades present themselves.  I don't trust the market right now to take Lottery Ticket type trades over night.  So I've gotten out of trades quickly  I had one bad trade today,  quite frankly it was unacceptable.  But  I still closed out 5 day trades and 1 trade from Friday for a 1R% gain on my equity.


Some news on SCOK a gap with some volume.  Based on past history and a small float I figured this would be in play.
I bought at $3.80, It ran up to 4.20.  Rather than sell there I wanted to give it a chance to run so I moved my stop up to 3.95.  It got hit on the next pull back.

After seeing it run to a high of 4.44, I thought I would give it another chance hoping that it would have some magic left for power hour.  It was not to be.  This got a bit away from me as it slid. I added more in hopes of a pop but I got stopped on the whole position.

Trade 1:
Entry 3.80
Exit 3.95
+.15, +3.9%,  +.34R

Trade 2:
Entry 4.23, 3.85 (avg. 4.04)
Exit. 3.68
1.17R - 8.9% .  I let my knowledge of Scok's past run cloud my judgment.  I had visions of a 5 handle close in my mind and it cost me.


I liked the strength of this going into the close on Friday.  Apparently  there was a negative Seeking Alpha article and this gapped down.  As it bounced up it set a range in the 2.40s.  I wanted to see what it could do once it hit the gap.  I bought in at 2.46 (anticipate the break of 2.50) it worked very well.  The stock eventually faded pretty hard.  Why did I sell?  I guess it's because I didn't really trust the Ebola rally and would rather sell on the way up.

Entry: 2.46
Exit: 2.74  (11.4%) + .9 R

Not bad for 20 minutes. My take away from this trade is keep an eye on the stocks that closed strong the day before.  Even if they gap the other way there may be a profitable trade hiding in there.  This had a nice tightening up and then it burst.

I caught another great bounce in the XIV.
Entry: 29.77
Exit : 30.49
.72, 2.5% .5R
I decided to sell on the close as the market has now put in a nice rally heading towards a V shaped recovery.  I'm looking for some selling to come in over the next day or so and I want to preserve equity.  I don't feel that this is the place to establish a long term position, so I would rather do the quick hits.
AAPL beat earnings today.  I picked it up A.h. at 100.20  it traded up gradually but  there did not seem to be a lot of panic to get into positions.  For that reason, I felt it was best to bang it out before the morning.  out 101.05  .85, .8%, .27R

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