$STV long 1.71 (1200 shares)
$STV out 1.68 (1200 shares)
The stock gapped up from 1.30 to a p/m high of 2.12 on cash dividend of 1.50 per share news. I didn't really know what this news meant (guessing the previous shares are valued at 1.50) so I played the chart. It dipped from 2.12 to 1.75 bounced to 1.86 dipped to 1.72 and bounced to 1.88 p/m opening at 1.82 to tank to 1.65. Looking back at the chart it wasn't a coincidence that 1.75/1.72 were key levels (p/m support) and I was looking to play off these levels. I want to highlight this scratch because the tank from 1.82 to 1.65 ignored 1.75/1.72 which was the clear do not trade sign that I didn't take. It bounced from 1.65 to 1.78 dipped to 1.69 bounced to 1.74 and started holding 1.70 which gave me the confidence to execute. It spiked to 1.82 and I wanted to give a small dip since it made 3 clear higher lows from 1.65 to 1.66 to 1.69 and finally 1.70. After that quick double-top on the opening price of 1.82 the stock tanked to 1.64! The "dip" just kept going and I Was forced to cut losses. Although I managed to protect myself I want to acknowledge that this probably wasn't a buy from the start. The fact that it tanked from 1.82 to 1.65 right at the market showed me that there wasn't much buying pressure. If it had barely dropped to 1.70 and barely broke that 1.72 only to reclaim it then that would've been a good time to execute. GREAT LESSONS and a great reminder to not force any trades.
$NADL long 2.83 (600 shares)
$NADL out 2.85 (600 shares)
This was definitely a forced trade. Yesterday this stock cracked into the close from 2.92 to close at 2.60. P/m it gapped-up from 2.60 to 2.94 opening at 2.97 and dipped to 2.70. I saw this dip and I was debating whether to buy as I felt the fact it gapped-up with so many shorts in from yesterday showed me a quick squeeze was possible. However that moment of hesitation made me miss my execution and the stock flew to 3.10 before fading to 2.73. I executed once it double-bottomed bounced to 2.89 and had the first healthy pullback to hold 2.80. It then bounced to 2.96 before going back down to 2.81 and I cut gains. I knew I should've sold near that 2.95 mark (p/m highish) knowing that the huge drop from 3.10 to 2.72 said enough. I guess I just got stubborn and regretted missing that spike from 2.70 to 3.10. Great reminder to never trade with my emotions and rather react to the chart. Although I got out basically breakeven I don't want to enforce any of my bad habits as I have a clear goal of beating Tim G. Also a great reminder to be EXTREMELY picky with my setups and to trade that patterns im 99% CONFIDENT in. Perhaps im going over here but it really pisses me off how FOMO manages to get the better of me after all that practice! REVIEW.
$OCN long 2.83 (800 shares)
$OCN out 2.81 (800 shares)
The stock gapped up from 2.50 to a p/m high of 2.95 which not coincidentally was yesterday's bounce high. It opened at 2.74 and had a massive tank to 2.38 bounced to 2.55 and double-bottomed at 2.34 which eventually spiked/up-trended it to 2.84 it got me interested here as it took out the opening price, dipped to 2.74 and held it which gaveme the confidence to execute/chase a little. So at this point I was thinking okay it held that opening price perfectly on that dip and its a green day after a huge drop from yesterday with the only resistance point at 2.94 and if it breaks that it could fly. It turns out after that dip it broke 2.84 only to go to 2.87 which tanked it the next minute to 2.80 and I cut losses here.
So right off the bat im seeing 3/3 bad trades here that didn't fit even remotely close to my perfect set-ups and yet i took the trades. Although I am slightly proud that I didn't let any of these losers run, im extremely disappointed with the fact that all three were somewhat forced. Remember you don't need to trade if the perfect patterns don't appear! So after these tilting trades I did what I usually do and took a breather to calm myself.
$OCN short 2.69 (900 shares)
$OCN out 2.52 (900 shares)
After double-topping at 2.85/2.87 the stock faded to 2.70 bounced to 2.80 (probably the perfect time to short) and dipped to 2.66 bounced to 2.72 and I shorted here once 2.70 got taken out. I shorted slightly too early as it hit 2.71 again (2.72 was my risk) and 2 minutes later dropped to 2.62 and continued a fade/down-trend. The key levels I was looking at were 2.55/2.50/2.48. It was choppy on the way down and I covered once I felt the momentum shifting. I took a bigger position than usual because this is a higher float stock. Overall great great trade and a great reminder for me to STAY cherry picking my entries.
https://user.profit.ly/usercontent/101135/f3/baec6026d611e7b3a58b4c8ce7a2e6.png
https://user.profit.ly/usercontent/101135/02/b96ca026d711e7902fd359084e5e52.png
$ZPAS long 2.65 (700 shares) (o/w)
Bought this pump as it is early in the pattern. Looking to swing til things pick-up (signifies the end is near).
$GLBS long 3.41 (600 shares)
$GLBS added 3.35 (400 shares)
$GLBS out 3.48 (500 shares)
$GLBS out 3.49 (500 shares)
The stock spiked from 2.50 to 3.41 on no news faded to 2.84 and up-trended/spiked to 3.55 and I executed off a dip after it had already broke the day high and was holding 3.40 (previous high). It bounced only to 3.45 before dipping even lower to 3.31. I got a little stubborn here and adjusted my risk to 3.29 (key level) since I knew there was a bigger spread which makes it less of an exact science. I then added once i saw 3.30 held perfectly. It bounced to 3.46 and I gave it the first pull-back like I always do as it came down to 3.38 and bounced to 3.50. I sold some into this strength just to play it safe and because I had a bigger position than I originally wanted (low float/bigger spreads). It dipped to 3.40 and spiked to 3.57 (weak breakout) but I didn't want to sell here (although I usually would) because it was a bigger spread and I wanted to give as much time as possible. It dipped to 3.48 and only got up to 3.58 which dipped it to 3.43 and forced me out. Overall this was an extremely meticulous trade.
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$OCN short 2.54 (900 shares)
$OCN covered 2.35 (900 shares)
At PH i saw the stock fading after a double-top at 2.60 and once it was getting more narrow and couldn't break above 2.55 (key level) i executed. It had a panic from 2.53 to 2.41 (big move) but I wanted to see how it would do around 2.34 (LOD). It bounced to 2.48 (g/r) and my risk was above 2.50. It then started consolidating from 2.41-2.46 and finally cracked taking out the LOD only by a cent which forced me to cover. Overall great reaction timing on that cover!
$OCN long 2.35 (1000 shares)
$OCN out 2.42 (1000 shares)
After seeing it barely breakout down I took it as a long thinking a Friday short squeeze would happen off this weak breakdown. I was dead right as it flew to 2.42 and I sold once i saw the shift. I should've gave it that first healthy dip as this was a strong move. It dipped to 2.38 before spiking to 2.46. I would've definitely sold near 2.45 and in fact I would be short o/w but decided not to since the French elections is this weekend. However that seemed like a perfect short opportunity at 2.45 since it finished red on the day (gapping down to 2.34 a/hs). Better safe than sorry?
mr mikejaehan try making a video!
I think STV would be a good buy if you bought it premarket. I think there is a chance it will spike up Monday. Just because of the big gap up and volume today
@charliehebdo Most likely in the near future!
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