Monday, November 5, 2012

Trades of the day, VRNG and HUSA!!!

When I saw VRNG get this huge spike with volume to match it I knew no way it couldn't be a headfake no matter how far it retraced back. So I looked at my 1-minute bar chart and went long the second it pulled back a bit after a few bars. I decided to buy 1000 shares @ 3.05 and placed my stop at 2.94. I wasn't going to sell this stock until the end of the day or if it hit my stop at 2.94. It worked out perfectly and I ended up selling at 3.82 for a nice profit of .88 points.

Bought 5000 of HUSA @ .5110 after it retraced back somewhat after it opened higher up on a gap. Placed my stop at .485, moved stop to .535 after it broke through intraday high of .58. I had to sell it about an hour after that because it hit my trailing stop of .575. A nice gain of .064 points.

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. Well anyways, remember to Vote!!

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