Kevin_in_GA
4,599 posts
msg #130301
- Ignore Kevin_in_GA |
8/5/2016 4:03:44 PM
Positions taken today:
PH - short 165 shares @ $121.00
ELY - could not get a decent fill
COT - short 1200 shares @ $16.67
GOGO - short 1900 shares @ $10.28
Positions being held over the weekend:
NSM - short 1350 shares @ $14.9003
CEMP - short 1800 shares @ $22.99 (ouch).
Goes to show that doubling down isn't always a quick fix. I think that CEMP is wildly overbought right now, and I'll hold this one for a bit longer than I had planned but with the expectation of breaking even or better.
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Kevin_in_GA
4,599 posts
msg #130302
- Ignore Kevin_in_GA |
8/5/2016 4:05:51 PM
Have you considered taking positions at next day's open? It seems gap risk to the upside may be larger than to the downside?
That is an option, but you risk missing out on the gaps down - a lot of my successful trades posted here are closed out within a few minutes of the open.
I'll study the historical trades to see if that works better. Thanks.
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mahkoh
1,065 posts
msg #130305
- Ignore mahkoh
modified |
8/5/2016 4:47:05 PM
Looking at GOGO as an example, you could set a sell stop at 10.21 and then take profits at 10.10 support. Or more conservative, a sell stop at 10.10 for a move to 9.85.
I would definitely sleep much better.
(Moving to the next page also helps, this giant Dennis Dick face on the previous page kept me awake last night ..)
((Is indeed a good interview by the way, thanks Eman))
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johnpaulca
12,036 posts
msg #130307
- Ignore johnpaulca |
8/5/2016 7:56:44 PM
Goes to show that doubling down isn't always a quick fix. I think that CEMP is wildly overbought right now, and I'll hold this one for a bit longer than I had planned but with the expectation of breaking even or better.
*************************************************************************************************************************************
CEMP...the breakout target is measured to just above $25
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Kevin_in_GA
4,599 posts
msg #130331
- Ignore Kevin_in_GA
modified |
8/8/2016 9:43:27 AM
PH - short 165 shares @ $121.00
15:57 bought to close at $122.57 for a loss of -$261
COT - short 1200 shares @ $16.67
09:38 bought to close at $16.45 for a gain of $252
GOGO - short 1900 shares @ $10.28 - tried to short another 1100 shares @ $10.62 but it did not fill. Holding overnight.
NSM - short 1350 shares @ $14.9003 - still holding
CEMP - short 1800 shares @ $22.99 - still holding
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Kevin_in_GA
4,599 posts
msg #130337
- Ignore Kevin_in_GA
modified |
8/8/2016 12:52:12 PM
New position entered:
MTZ - short 340 shares at $29.39.
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mahkoh
1,065 posts
msg #130338
- Ignore mahkoh |
8/8/2016 4:48:18 PM
I'm somewhat losing track, care to give an overall update?
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Kevin_in_GA
4,599 posts
msg #130339
- Ignore Kevin_in_GA |
8/8/2016 9:59:42 PM
22 closed trades, 15 wins. Net gain of $3085. Three open trades, currently at a net loss of $3205 due to my decision to double down and/or hold for more than one day. The open trades, if closed at the end of trading the day after being shorted, would have only lost $1424.
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Kevin_in_GA
4,599 posts
msg #130346
- Ignore Kevin_in_GA |
8/9/2016 3:51:16 PM
11:05 AM - out of NSM at 15.20 for a loss of $415. GOGO and CEMP are killing me today. Sorry for the late day post.
No trades signaled for tomorrow.
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mahkoh
1,065 posts
msg #130347
- Ignore mahkoh |
8/9/2016 3:53:18 PM
Well, actually pretty good, but it emphasizes my first point:
- The bulk of the selections tend to resolve higher so I'd say it's crucial not to overstay your welcome.
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