@Clover_Trading : These are the recaps that I am putting on my new blog along with recap and live video trades and other articles about day trading a small account and such.  Check my twitter bio for the link to the site!!

 

First day of month today and there were a few opportunities that presented themselves.  I only had two stocks on watch from last night $LINU and $MBOT, both of which I were spot on with.  

 

$LINU straight from the watchlist: "Overextended looking at a push towards that $1 mark. Closed at its highs and is up after hours a bit. Keeping it on watch here to see its strength in the morning. Would like to see it climb a little higher near that $1 mark for a possible short."  Only problem was that, there were no shares at SureTrader.  We got that perfect spike about .20 in the morning almost touching .90 and then cracked back down now under .60 after hours.  

 

$MBOT also from the watchlist, I was looking for more follow through today and possible move up.  Me having such a short attention span, decided to start looking for other plays as $MBOT didn't show strength at the open and dipped and consolidated for a little.  I missed the break of yesterdays high and did not want to chase this things up passed that so just missed the opportunity, not a big deal there will be more.  I just have to remember that plays are not over if they don't do what you think they will right at the open. Need to have patience as the trading day is long.   

 

Today I traded $EXPR for a small $50 profit, but was a solid day as it pertains to decisions made.  

 

$EXPR gapped down on poor future projections and missed revenue.  After looking back on the daily chart I noticed that on previous major gab down we saw a first solid red day with greater then normal volume.  So right off the bat, I'm short bias.  Below is the daily chart I am referring too.

 

 

As I am waiting for the bell we set a low pre market at $5.85 and know if we can crack that we have potential for a bigger move to the downside, setting new lows.  Now normally what I would do in the past is that I would take a short position within the first 2-3 minutes of the market open as soon as I saw weakness.  This would get me in trouble more times then not as it would bounce a bit and would shake me out.  Then I would be mentally off and miss the actual move which was what I accomplished today, thats waiting for the initial bounce then playing the pullback.

 

 

Above it the 2min chart I was using with this trade, you can see the 10 minutes its basically deciding which way it wants to run, and although I only ended up with a $50 winner I played it right and didn't rush the short.  I took 250 shares at 6.36 and then an additional 250 shares at 6.27 as we began to break down.  So I had 500 shares from a 6.31 average.  I held through a lot of that consolidation hoping for the VWAP break which would have been ideal and really made the trade a success but we didn't get it and it held multiple times so I took off at 6.20 for the $50 gain.