Wednesday, January 9, 2013

Trades of the day, HLF and UVXY!!!

My first trade of the day was HLF. It had gotten halted on some pretty decent news this morning, so when it started to sell off after it re-opened and knew it was just some profit taking. Once it touched 38.00 a share and started to bounce, this was going to be an easy day trade with a very good risk to reward ratio as long as I placed my stop at 37.97. So I went long 300 shares at 38.25 and sold it at 40.21 for a 1.96 point gain. Glad I didn’t decide to hold this until the close, as you can see on the picture below.
Finally, my second trade (picture below) of the day was UVXY. I’ve been hell bent on trying to catch some type of Dead Cat Bounce with this thing for the past week, but I’ve realize this ETF is rigid. I decided to go long again today after it gapped down and was hitting more all-time lows. I’m not even going to watch any type of underlying index with UVXY anymore, it’s all about price action with this thing now. Therefore, I caught some of the bounce today, by going long 1000 shares at 14.50 this morning, and sold it at 15.05 for a .55 point gain.  If UVXY has anymore huge gap downs within the next few months, you’ll see me going long on the open, it’s automatic for now.

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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