Trying to profit on the falling knives (oversold stocks & huge pullbacks).
Wednesday, November 14, 2012
Trade of the day, IAG!!!
So the markets were pretty much on a straight downward spiral today, couldn't really catch any bounces. I got a small profit from PMEA today from entry of .135 and sold it at .14. The stock I was circling around the whole day like a vulture was IAG. I waited and waited for any type of possible reversal signal confirmation and I finally got one a half an hour before the market closed, so I bought 1000 shares at 11.93 and sold it at 11.95 for a measly gain of .02 point gain, but that was expected buying so close to the ringing of the bell. There is going to be probably more selling in the markets tomorrow, so I'll probably play VRNG for a daytrade and look for bounces on Friday morning. If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on twitter @tradermike9.