Trade of the day, MCP!!!

Today's trade of the day was pretty much a gamble (thinking it wasn't going to crack 8.00 a share) than an entry signal strategy that I most commonly use to get into a trade. So I decided to go long 1000 of MCP at 8.10, thinking there was no way it was going to break the 8.00 a share support level today. Placed my stop at 7.97 just in-case I was wrong. I didn't want to move my stop up until it reached 9.00, but, if it didn't hit that mark, I was just going to hold it until the last half an hour of trading, and I did, sold it about 10 minutes before the bell rung at 8.45  for a .35 point gain. By the way, I'am still long 2500 share of $TZYM at .58, and holding it overnight hoping that it will have a nice run-up tomorrow (Friday) before the weekend.

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!

Trade of the day, MCP!!!

I missed out on some nice bounce plays I was considering today because I got into a social media pump fest with some of my followers with VRNG. I usually play 3-5 Dead Cat Bounces a day but the only one I got into was MCP, which ended up taking a very slow nosedive. Bought 1000 shares at 6.95 hoping it will at least fill the gap from yesterday's closing price plus a little more. It might have been a little too much wishful thinking on my part since MCP is under a SEC investigation. When an investigation is going on with any traded company, shorts are not going to cover anytime soon, and buyers are staying very far away from them. Ended up getting stopped-out at 6.87 for a .08 point loss. Tomorrow is another day.
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.