Trade of the day, HLF!!!

I was looking again for that huge Dead Cat Bounce today on HLF. It started out very good this morning, but it ended up having a very slow downward fade the rest of the day. Went long 400 shares a couple of minutes after it opened and got filled at 28.80. I didn’t put a profit target because I thought shorts will be covering all day since it was Friday. After the huge run-up this morning, I should have sold HLF around 10:30 ET, but got greedy and held on for higher highs that never ended up materializing. When it broke 30 a share around 2:15 ET, I just decided to sell at 29.88 for a 1.08 point gain. I swear it was heading to at least 32 dollars a share today, but I always got to keep reminding myself that, “There’s never certainty in any trade”.

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.

Trade of the day, FARE!!!

                 I thought it couldn't happen again today, but FARE is almost another perfect example of my bounce play strategies just how I explained (look at my previous blog post) it yesterday with SRGE. Caught the sell-off on this pump and dump, and the entry signal which ended up being a support level around .095 rather than a candlestick pattern. Went long 25,000 shares of FARE at an average price of .1005. I was looking for a profit target of at least .12, then it almost got there in about 10 minutes, but started tracking back down to my entry point I bought it at. Right when I was about to sell it and just break even, there was a huge buy order at .10. That seems to have gave it another legg, passing my profit target price of .12. Ended up selling it at .124 for a .0235 point gain. If you do the math, that's $587 in 30 minutes.
             The day wasn't really all that dandy because 80% of my profit on FARE was eaten up by losses on QCOR, HLF, and MRVL today. And one more thing, people that follow me on Stocktwits don't get to see my tweets on my position with FARE because Stocktwits don't like OTC/pink sheet stocks being tweeted on their site. If you have a twitter account you can follow my trades of OTC/pink sheet stocks.

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.
   

Trades of the day, HLF and SRGE!!!

So I went long 500 shares of HLF at 27.10 hoping to catch a huge Dead Cat Bounce today. Placed my first stop at 26.49, and then moved it up finally (2nd stop) to 26.97. I wanted to ride this stock out until at least 15 minutes before the close, or it hit my profit target of at least 28.50. After getting tired of holding this bag, I just decided to put in a market order and sold it at 27.65 for a .55 point gain.

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The picture below is a perfect textbook example of how I like to play my bounce plays. First, the huge sell-off; Second, forms a candlestick reversal hammer bar off support levels; Third, buy on the next 5-munite opening candlestick bar after the hammer forms; Finally, just enjoy the short-term ride up and grab as much profits as you can. Went long 250,000 shares of SRGE at .006 and sold it at .0084. I gain $600 dollars in less than 15 minutes, that’s a prostitute dream! I just wish this setup was an everyday (trading days) occurrence. 

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.

Trade of the day, KITD!!!

KITD was pretty much a no brainier today. It got halted for over a week, and after it re-open sellers took control trying to unload their shares before the weekend. Now today and probably for the rest of this week, shorts are going to be covering. I then decided to take advantage of some of the short covering today and went long 5000 shares at .22, five minutes after KITD open to try and catch some of the dead cat bounce. Plus, I placed my stop at .19. Sold it at .275, ten minutes before the close because I wasn't going to hold this bag over Christmas. It was a $275 profit using just instinct and common patterns I always see on certain sequence of events.
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.

Merry Christmas everybody!

Trades of the day, RIMM and HLF!!!

       The first great trade of the day was RIMM. I did two round trip trades on this stock. First trade I went long 1000 shares at 11.65 when it formed a candlestick dragonfly doji 10 minutes after it open on the 5-minute daily chart. Yesterday everybody and their mother starting shorting RIMM before their earnings came out, and when I saw the huge gap down this morning, I knew some of them wanted to start covering their positions as soon as possible. I ended up selling it at 12.20 when it started forming a shooting star candlestick bar on the 5-minute daily bar chart for a .55 point gain.

         The second trade of RIMM today was when it formed a hammer with a lot of volume to match, signaling another possible bounce. Bought 1000 shares at 11.25 and sold it at 11.30 for just a .05 point gain. It was pretty much a total of $600 in profits on both trades with RIMM.

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Now the picture below is my second great trade of the day with HLF. If big money man Bill Ackman was really short 20 million shares, I thought another sell-off of HLF would have some short covering from somewhere.  Went long 300 shares at 26.65 when it started to fall apart again today and when hit a 3 year support level around 26. It also formed a reversal candlestick hammer, with the highest volume yet prior to that candle on the 5-minute daily bar chart to convince me it was time to buy. I was only looking for a bounce back to at least 28, but sold it at 28.09 for a 1.44 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.

Trade of the day, VHC!!!

Went long VHC 500 shares @ 31.10 when it started to collapse this afternoon. A beautiful reversal hammer formed, so I knew it was time to act on this. After my profit target of at least 32 was reached, I wanted to stay in until at least 15 minutes before the close, but I had over $15,000 in this stock. I hate having soo much capital in one stock because I start getting heart palpitations, and my thoughts (stock getting halted and they find out their books were all a fraud and it re-opens at .50 cents) start running wild. And look at that! Stock did end up getting halted, but sold it before it happened at 32.00 for a .90 point gain. Yes I see, I could have made a boat load more.

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.

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.