Today was crazy. The market floated around the highs of Friday's trading range, showing no real direction. I came in with a few stocks to possibly play: MCP, PCYC, FSLR, VVUS, WU. MCP and WU never developed. I made a few dollars in PCYC-I decided to try FSLR before PCYC-didn't work. I went in FSLR twice and got burnt both times. By the time I got into PCYC, the real move was over. I did two trades in VVUS; winning on one and loosing on the other. ARR, BSX, EA, PCYC and TTWO were redemption trades (I'm making up stuff.........wow). I never really had a feel for the market today. When you feel that way, its best that you take the looses (or gains) at that point and call it a day. I decided to push it, which only lead to a larger loss.
Here are the results for the trades:
Took this trade with the intent of closing out in the 5.70 range. Strong buying pressure prohibited the stock from getting there.
Ridiculous trade-this isn't even a gapping stock. Next one........
These trades are prime examples of when not to take a trade. You should be able to notice that the initial move (which tends to be the best one to catch) has passed.
No comment.... on to the next one..............
Perfect trade that I didn't take. Trading is like that sometimes. You just have to deal with it.
Choppy to say the least. I traded it because I like the fact that the stock had a nice void (no support/resistance) in sight until $14.30 with more room above.
I took a small hit on this after market trade I did in TTWO. Sucks...
Weird day to say the least. I didn't achieve my .50 profit. I'll have to work at getting it back tomorrow..
See you then. By the way, I have just signed up for twitter so you can follow me at @njohnsonjr23