Wednesday, December 19, 2012

Trade of the day, ONTY!!!

ONTY had a decent high short interest in it. I have noticed lately when these biotech stocks open down 50% or more, they seem to pop-up at least 10% right when the market opens. So I went all-in on 5000 shares at the open and got filled at an average price of 1.79. My stop was placed at 1.68, but kept moving it up every minute with the stock. Profit target was at least 1.97 (10% higher of my entry point). When I saw it break through 2 for a moment, I knew the 10% mark I was hoping for passed and I needed to take profits. Sold it at 2.00 for a .21 point gain.
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 stocktwits or twitter @tradermike9.


madmoneyvids said...

What scanners do you use to find stocks to play? Is it broker-specific or do you use something like Yahoo Finance biggest losers?

TraderMike said...

I just use my broker's scanners for biggest percentage losers of the morning, and I look for the ones that are down more than 10%. My brokers use real-time price quote scanners. Yahoo has like a 5-15 minutes delay on quotes.