Lots of good things today, lots of bad. Let’s review:
10/12 DPTR long trade 1.72 30k sold 1.74 $600 profit. Did research last night, looked like DPTR had shareholder meeting day before when I saw volume come in end of day when closed at 1.76. In this case, no news good news because people expecting dilution. So, when DPTR opened up at 1.78 was willing to see how it traded today overall, as long as it stayed green. In first half hour DPTR broke into the red level for the day, and I sold it for small gains, even though I had the info last night on why it was up, so I thought. Anyway, DPTR ended up rallying from the red territory again on relative strength to market and missed a decent trade. IF DPTR, did not go red on day would have stayed with it longer, but due to risk tolerance, took the tiny gain. Don’t really consider this a mistake, but I believe I had the news overall.
10/12 VASC A/H short 2k 10.10, 2.4k Profit. I consider this an outstanding trade, and one for everyone to learn from. This was a ‘history’ trade. VASC always gaps high on news items last night like 501k clearance for it’s product sales. So, knowing it’s history of wild moves, I sold short just the right amount of SIZE. 20k trade for me is a small trade overall. A/H, VASC actually shot up to 12. I was not here, I was raking leaves. If I was, I probably would NOT have reshorted, because with a stock average volume of 100k for day already had the right amount of SIZE. The size of the trade allowed me to stay in, and went from down 4k last night to a gain today, and waited for stock to correct it’s gap on overinflated news, and VASC still closed down near it’s lows of day. As a trader, I consider this an almost perfect trade, not in the dollar amount, but the SIZE, reading the news, knowing the companies history.
10/13 SVA, long 7k 8.16, out 8.29, plus 1k. Bought SVA on momo and volume, SVA broke it’s days high around noon 8.08, on news in morning approved to sell in HK. SVA actually went up to high of day of 8.57, but I sold nothing, held all, out of pure GREED, thinking 9 was possible due to strength in BCRX and NVAX, the sector. In afternoon, SVA just hung around all day, so I took profits on the name when it was clear the volume stopped coming in and it would not break it’s high of day 8.57. It was a good profit take at that point, as closed kind of limp. Entered as a daytrade, kept it as a daytrade.
10/13 AONE Long 2k 22.05, out 22, lost $100 bucks. AONE is the one that got away, but, I turned out to be 100% correct on the call even though the market did not do much of anything itself. What I saw, was a stock consolidating near it’s flat level for the day, on low volume, so it appeared to me the stock sellers had run dry, and it’s sellers run dry, especially on a IPO which is in a quiet period, motion creates emotion, which creates volume. This is what happened. I missed making money on the trade as after holding it for one hour, it did not do what I wanted it to do, so sold flatish. I lost my patience, and I lost my gains here.
10/13 AIG long 2k 44.80, out 44.75, lost $100 bucks. AIG came out with news end of day, that financial traders ‘better at taking risk’ at company. Well, this is not huge news, they better be, but it came out at 3:30 eastern, and figured could squeeze into the close like AIG is prone to do sometimes, so I took a big position with a stop at 44.35, or AIG breakeven level of the day. After AIG broke 45 and did not hold that level, I knew it was not going to move on the news, because no real volume came in on it, so I sold flatish and saved some money. It was the timing (late time of day) of the news why I went large and liked it so much, but it turned out to be non-event.
10/13 After Hours Short 1k $BMTI 11.10, covered 9.80. Did not post this on twitter, but here is a good example of how to read a press release, quickly. The company said they met all the primary endpoints, and the stock rocketed. But in the data you can see lots of dropouts not included in the numbers, so they are skewed, and not perfect. Stock went up to 16 quickly on news, but was 12 in a blink, and I shorted small because it was red knowing people may be caught in higher, and the news overall was not that great in my opinion. Stayed small, it’s after hours casino, and took the profit.
Welsh
