Yesterday, I impulse traded; something I want to avoid making a habit of.
$TNDM made some decent gains on Monday, and floated around $1/share. It had some news (diabetic insulin pump.. as a diabetic, this interests me :D don't fall in love with the story, right?), good gains, I thought this might be primed for a good overnight/morning move (I'd like to see 10-20%, of course). But, the aftermarket dropped, volumes weren't good, and it opened lower.
$ALQA is another decent mover from Monday. Not only that, but it broke to NHOD near the EOD and was off a penny of the HOD at close. It had some good volume early into after hours, so I picked up some thinking the same play as above: Hold and sell into a morning spike. Overnight, some folks finally figured out what the news was (approval of a silver bandaging?); again, thinking a lot of folks may have missed news and would be buying into the morning.
The market overall is going down. And, frankly, I think both of these were decently set-up plays, but what the fuck do I know, I've got just a handful of trades behind me and I don't know shit.
As I type, both stocks are below what I sold them for, so bully me for getting out when I did. I'll watch for a bounce later today but both stocks are just... flat. no real chop, no swings. $50 loss day, could've been worse.
Another lesson: You can't trade if your money is tied up in other things. I totally missed $LINU on the runup because I was too focused on not losing my ass on the other two trades. I'm sure some of you folks are making out like bandits. Give em hell.
Hmm... Interesting title.
I thought ALQA was going to be a good setup too. Lots of people talking about how it would spike when Yahoo.got the news posted. I'm still holding for a possible small spike in the AM. If it fails to go green at the bell I'm out too
Part of me wonders if this is why Sykes doesn't trade biotech? I've seen several biotech stocks do similar patterns. I might just need to start crossing these off mentally unless I can catch them on a spike. Seems like a lot of these also go big in pre-market hours and regular trading hours just.. sit around. :/
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