Thursday, January 17, 2013

Trade of the day, UVXY!!!

If you have been reading my posts, or following my tweets for the past few weeks, you may know that I'm still hell bent on trying to catch this Dead Cat Bounce on UVXY. I don't care which way the market is heading, I'm going to play 1000 shares of this ETF until it has a nice huge retrace to the upside. Anyways, went long 1000 shares right at the open and got fill at 12.75. I placed my stop at 12.49 just in-case the market makers decide to try and take out some weak hands. Also I didn't even bother to look for a profit target, just held on to this thing (UVXY) 5 minutes before the market closed (4:00p.m ET) today. Finally, UVXY did start moving to the upside late in the day, and I sold it at 13.15 for a .40 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. Thanks!

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