8/23AM: I'm going to try to keep this blog post a little shorter, as it's easier to read lol. 

 

Noticed RTNB from yesterday. Obviously a big fucking scam going on. It was halted yesterday mid day, and then opened after hours. Why would they open it after hours, when a lot of people can't get their shares out? I know why: it's because somebody with Nasdaq got paid a ton of money to do so! It's a big fucking scam, but that doesn't mean we can't profit from it. 

It was already bouncing from yesterday's after hours lows in the 1.50's. Opened today in the 1.80's, and broke that 2.00 level. I was hoping it would hold, and it seems to at first. I bought 500 shares at 2.04, but then it broke. Had to cut losses at 1.90. That was my biggest loss of the day: $80.00

 

However, it held 1.90 and I decided to buy again, limited price 1.96 500 shares. It took a little bit, but then it broke the HOD at 2.10, and went straight to 2.30. I had put my sell order in at 2.22, because I didn't like how choppy and spready it was. Made a nice $ 120.00 gain there!!

 

FENG was breaking out, and I remember this pattern from Tim Grittani's DVD's : buying major daily breakouts. The breakout level was at 4.80, and it had already seen the 4.90's. It seemed to consolidate in a channel between 4.81 and 4.95. I had bought some at 4.86. It messed around a little bit, but then a few big sellers showed up on the ask, and the stock started to test 4.80. I got scared, and sold all my shares for a $32.00 loss.

 

Only top realize that this was a fake-out, and it held VWAP at 4.75. I decided to re-buy this stock at 4.83, and use VWAP as my risk. That worked out, and we went to test 5.00 and actually broke to 5.10 at first. I didn't take anything off, and it started to come back down. Only this time, it held the HOD in the mid 4.90's. I decided to use 4.89 as my new risk, just below 4.90 where it bounced from. There were still two 50K sellers at the ask at 5.02, and it made me nervous. It ended up taking them out, and broke past 5.10. I had my sell order in at 5.09, but SureTrader gave me a great fill at 5.11. 30 seconds later the stock is trading in the 5.20's. 

 

Tim Sykes hammers on us to take profits. I could have made more, but it could have also put in a double top at 5.10. The stock has doubled since last week, so have to keep that in mind. 

I feel like I am starting to become better at taking losses, and also at taking profits. I've had two $100.00+ gain's in one day, and under $100.00 losses. I try to keep my losses below $100.00 as a good trade, is usually around $100.00 - $200.00 gain for me. 

So, I am glad to have made the switch from E*Trade to SureTrader, since now I can get back in if I can, and cutting losses is a lot easier for me. With E*Trade I always needed to wait 3 days for my funds to settle. This has caused some major losses for me, as I just held longer to avoid getting faked out. I still, however, use the E*Trade software, because I love how it's put together, and I still have a little bit of money in the account.