Before I continue, don't forget to vote for me in the ShortAwards (Finance category) here: http://shortyawards.com/WeeklyTA. Help me beat out #9's Suze Orman and others and take a top 5 spot for iBankCoin. I greatly appreciate it.
GENZ was a cool momentum pattern. It is an example of being patient for a stock that has spiked intra-day AND sustained/based itself. We wait for the secondary breakout, which I did. I first caught GENZ at $50.88-90 and my final exit trades were at $52.30-31.
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Who would have known that CYCC was going to be up +152% for the day? I didn't, but I kept playing it multiple times and as far as I could. Since there's really no way to predict a 100% gainer, you just have to roll with it and focus on each setup as they come. Never ditch a stock on your watchlist because it's "up too much". I first caught CYCC at $1.5199 with my last trades ending at $1.91-92 before leaving to run some errands.
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VVUS was a pre-market volume mover and opening breakout play. The execution was near perfect and I made two solid profitable trades in it ending around 11AM with both adding around 1-1.5% each.
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Lesson: Don't ignore the secondary breakouts.
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2 comments:
great trades!
how did you scan for these stocks?
where did you place your initial stop loss?
I'd like to ask how you approach these orders. Your order sheet shows (on CYCC) you buying 5000-share lots and selling them almost immediately for $0.02-$0.05 gains. Is this just a way you scalp, or am I missing something?
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