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.

9 THINGS TO KNOW ABOUT MY TRADING!!!

Since I didn’t make any trades today, I just wanted to answer 9 questions I have been getting on Twitter and StockTwits.

1.) My trades of the day I post on this blog-site are day-trades I made that day. They are also winning  day-trades, but if I had no winners that day, I’ll post a losing trade and show you why I  probably went wrong on that trade.

2.) 90% of my trades are day trades.

3.) 10% of my trades are swing trades.

4.) I don’t trade options or futures.

5.) I average about 5 round trip trades each day. I trade about only 200 out of the around 250   trading days each year. So: (200 X 5)=1000 round trip trades a year.

6.) Only about 48% of my trades are winning trades this year (2012), but my accounts are up over 160%.

7.) 80% of my buy trades take place within the first 30 minutes of the market open.

8.) Type of trading strategies I only play:

·         80% Dead Cat Bounce or regular bounce plays.

·         10% Breakout plays out of a strong resistance.

·         10% Shorting overbought stocks on a very short-term level.

9.) Finally, I think for myself. The strategies I created to profit from the markets has been over 8 years in the making. I don’t trade on anybody’s ideas or opinions.  

Trade of the day, END!!!

Made a boat load on FARE this morning, but penny stocks are not the way of my strategy bounces, so the trade of the day is END. Bought 1000 shares at 4.95 after a spinning top candlestick bar formed with higher volume on it, and sold it at 5.30 after a gravestone doji candlestick pattern formed for a .35 point gain. This was pretty much an easy basic candlestick strategy bounce. I always love playing these because all of the candlestick signals are at the right place to buy and sell.
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, RIGL and BBY!!!

I had 5 trades today, but I usually just post one great trade of the day. Today I'll be posting two. RIGL had a huge gap down yesterday and it still had a decent short interest percentage in it. When it started to tick up a bit this morning, I knew it might be ready to breakout of a short-term trading resistance around 5.70. Knowing some shorts weren't going to hold it over the weekend and just cash-out their profits, I decided to go long 1000 shares at 5.72. Sold it at 6.25 for a .53 point gain when I thought it went up too fast and needed a pullback. Now I'm wishing I held on a bit longer, but you can never really sell at the top.

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Now as you can see on the below picture of BBY weekly chart since 2001, it was starting to flirt with a 10 year low around the 11.30 price level.

I waited this morning to see if BBY will break the 12 dollars a share price level, then when it took it out, I looked for a reversal signal on a 5-minute candlestick bar chart. The candlestick hammer ended up forming about 10 minutes later and I went all-in on a 1000 shares at the next 5-minute bar at 11.65. I placed a stop at 11.39 and my profit target was at least 12.25, making my risk to reward a lousy 1:2, but I knew the probability of  BBY going to a 10 year low today was not happening. Sold it at 12.10 for a .45 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.
One more note here,
 I want to express my deepest condolences to all the families In Newtown, Conn. who lost loved ones in this horrific shooting in that elementary school.
       'TraderMike

Trade of the day, ALLT!!!

ALLT today on the 15-minute candlestick bar chart formed a very nice bullish dragonfly doji candle. When you see that form anywhere on a chart with at least 2 long red bearsih candles prior to it, that means the downtrend is losing momentum and bulls may more than likely retake the stock soon. So I decided to go long 500 shares at 16.95 and hold it as long as I can before the close. It ended up working out pretty well, and sold it at 17.90 for a .95 point gain. My risk to reward ratio was only 1:2, but the probability was very high for a bounce. Plus, I made a huge killing on a quick day-trade on ATC and got out before it got halted, but I don't really like to post those type of trades because that's not a real Dead Cat Bounce play.
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, ACUR!!!

ACUR the last two days has been on a tear. I thought it might continue today, but I should have known better. Anyways, my first entry got stopped-out very quickly, but I tried again and went long another 1000 shares at 2.90 and sold it at 3.11 for a total on bought entries of just a .11 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, SXC!!!

The below picture chart shows a 6-months daily candlestick chart of SXC. As you can see it had a nice support level at 14.25, so when it gaped down and tested those levels, I had to get in and catch the bounce.

I went long 500 shares at 14.46 and sold it at 14.90 for a very small gain of .44 point as you can see below

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, CBMX!!!

Usually my trade of the day is a bounce play I profited on, but ZGNX didn't work out for me today. CBMX was a perfect continuation breakout play that I caught perfectly today. I only got 200 shares of this stock at 8.55 a share because I've went into a few breakout plays recently and gotten stop-out quick. All I could say is, "I wish I bought my usual 1000 share lot!". Oh well, $700 is not bad for about 2 hours of work. Anyways, I ended up selling at 12.05 a share when I thought it move up way too much and started to sell-off a bit. It was a pretty nice 3.5 point gain, but again, "I wish I bought my usual 1000 share lot!".

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, AMRN!!!

The picture above is AMRN year to day daily chart. It had a nice support level around 9.50 a share, so right before the open, I put a limit order to buy 1000 shares at 9.50 and got filled within 21 seconds. I knew this might work because it only had a low of 9.42 during pre-market trading this morning.

This stock was acting very erratically the first hour of trading, but when it started to somewhat consolidate a bit, I placed my second stop at 9.49 and decided to hold on until it either got to my profit of at least 9.95 or 5 minutes before the closing bell. Well as you can see on the picture above at the green arrow, I had to wait 5 minutes before the close to sell, and sold it at 9.69 for a .19 point gain. I thought I might get a short squeeze covering rally at the end, but it never materialized.
Have a great 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.

Trade of the day, LFVN!!!

So it seemed as I was the only person trading LFVN today. Not even StockTwits had it available in their search list. I decided to try and catch this bounce when I saw it heading back to support levels at around 1.75 from back in February. Went long 2000 shares at 1.85 when I saw volume spike up after it started trending back upwards on the 5-minute bar chart. I was going to get back in LFVN today even if it broke my 1.79 support, but lucky it didn't and I ended up selling it at 2.09 for a .24 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, VRNG!!!

The chart picture above is VRNG 3 months daily. I had a limit order to buy 2500 shares at 3.05 of VRNG every day for almost the past month, just in case it had a little dip/sell-off. VRNG has a very strong support level at 3, so I figured if it sold off too quickly for some reason, I’ll be able to catch a quick bounce off 3.

Well today it happened (above picture), and I got filled 2500 shares of VRNG at 3.05. After I got filled I quickly placed a stop at 2.98 just in case it kept falling apart. My level 2 screen showed a huge bid for a second of about 250,000 at 3.00 dollars a share. I knew the support level of 3 wasn't going to be taken out soon after I saw that. My profit target was 3.30, but sold it at 3.25 when it formed a shoot star candlestick pattern and then struggled to inch any higher.    

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, UEPS!!!

WARNING!!! Never try this type of trading on above picture. Anyways, I have a rule that if I get stop-out on the same stock 3 times in the same day, I just call it quits. This had happened to me 9 times this year of over 500 trades so far I've had since January 1, 2012. Here are the bullet points on all 3 trades for UEPS.

• 1st  Loss: Long 1000 of UEPS @ 4.15 & stop-out at 3.88= $270
• 2nd Loss: Long 1000 of UEPS @ 3.50 & stop-out at 3.33= $170
• 3rd Loss: Long 1000 of UEPS @ 3.45 & stop-out at 3.29= $160

Three strikes and your out!!!!

You should never fight the tape out of boredom, or you'll end up losing $600 on just one stock I wish never pop-up on my screen today.  Usually my trades of the day are winning trades, but I had no winning trades today.

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, UVXY!!!

So UVXY gaped down this morning when the overall market is in a somewhat overbought short-term trading trend. I had to take advantage of a quick bounce that UVXY usually does after gaping down in the morning. Went long 400 shares at 18.59 a share the second it opened at around 9:33a.m ET, and placed my stop at 18.47. It was somewhat of a gamble of where I put my stop, but looking back on Friday's chart I think it had a good support level around 18.50. Sold UVXY at 19.60 when I thought it went up too quick too fast for a 1.01 point gain. Now I'm wishing I didn't sell so soon because it ended the day going up almost another dollar by the close.
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, VRSN!!!

        Friday morning VRSN had a huge gap down after its ability to raise prices was limited as part of its deal with the U.S. government to keep operating the registry. That news made no sense to me, I thought the gap down was way overdone. Plus, I knew people were expecting this news and had short orders in. Since it was Friday I knew most of the shorts will be covering today and not trying to hold it over the weekend. I expected a bounce, and when the hammer formed at 10:00a.m ET, I bought 400 shares fifteen minutes later at 33.51 looking for it to retrace back up a bit before the close. I hate having over 10,000 dollars in any trade for now, so when i saw two bearish engulfing candles I decided to sell it at 34.25 for a .74 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, HGSH!!!

Usually my trade of the day is some type of bounce play I profited on, but all my bounce plays today were losses. I did trade a breakout today on HGSH that if you look at the picture above you could tell it was probably coming if we got some good volume.



The volume was picking up this morning on HGSH, and I needed to get in as quick as possible. I put in a bid to buy 2000 shares at 3.55, but got only 1000 filled and just canceled the other 1000 when it started to take off. I never buy more on the way up like some other traders I know, that's not my style of trading. My profit target on this stock was at least 4.50, but when it only touched 4.39 at first and started to trend back down, I started to panic and sold it at 3.95 for a .40 point gain. And look what happens, it had another legg up and it blasted through my profit target of 4.50 at one point after I just got out. Siiiiiigh!
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, TFM!!!

 TFM had too many probabilities working for it when it bounced off the 49 dollar price at the open. If you click on the picture on the top of here, you can see there was no way it was going to break to lower lows when it touch 49.00 a share and started to trend back up a little right at the open this morning.

So I went long at 49.75 hoping for a nice 3-5 points Dead Cat Bounce. I stay very patience with this for a bit during first hour after I got filled because it was really having these big swings for about an hour until it finally stabilized around 10:45a.m ET bouncing off a 50.50 price temporary support level. I moved my stop from 48.95 to 50.40 and just watch the good times roll. I did get a little greedy holding on longer than I wanted to and got out at 52.00 for a 2.25 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, MMR!!!

I saw this stock MMR taking a nosedive yesterday and I tried to catch the bounce, but ended up getting stop-out immediately. No fear, I was relentless in getting back in again today if it had lower lowers, and "lo and behold" it gaped down hard right at the open. I switch to my 1-minute intraday chart from my 5 minute chart after it broke its' 52-week low of 7.76 for some consolidation to find an entry price. I went long 1000 shares at 7.45 after some nice consolidation around 7.30-7.40 on the 1-minute bar chart. After it broke through 7.60, I placed a stop at 7.24 just in-case it tried to retrace down to new lows. I had a lunch date today around 11:00a.m est about 10 miles from my place so I couldn't stay and watch it. After I came back from lunch about 12:30 I was very excited to see I was up over 1 point. I decided just to take my gains and be done with this stock for now because I thought it was getting a little toppy, so sold at 8.50 for a 1.05 point gain. If you look at this chart from yesterday on a 2-day range 5-minute bar chart you'll see this is a perfect example of how I trade my signature Dead Cat Bounce strategy.
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, RIMM!!!

I knew between 12 and 12.25 was a huge resistance. Picture to the left shows why.

RIMM this morning was a no-brainer to short it right at the open when I saw it gap up in the morning. I shorted 1000 shares at 12.05, I knew between 12 and 12.25 was a huge resistance. After I got into the trade, I placed my stop at 12.21. It formed a long legged doji candlestick pattern on my 5-minute bar chart about an hour later, and then I just decided to cover it 11.63 for a .42 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, KITD!!!

My only day trade today was KITD. Had to try and catch this dead cat bounce even though I probably missed a huge bounce when it traded at .40 on Wednesday during after-hours, and then had a high of 1.25 during pre-market trading this morning. Today I didn't trade on any type of chart signal strategies, but a physiological number of .75. I put in a limit order at .75 and got 5000 shares filled around 11:18a.m est hoping I'll be able to get a bounce before the close to a profit target to at least .80. Well as you might have notice, I didn't reach my profit target and decided to get out before the market closed at .74 for a loss of only .01. I wasn't going to hold this stock over the weekend. If KITD has a nice gap down or dip at the open on Monday morning, I'll probably try again. Have a great weekend everybody!
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, HGSH (cont. from yesterday)

So usually my trade of the day is a daytrade I profited on, but today I only had 3 daytrades and none of them made me money. Yesterday I traded HGSH (look at yesterday's blog post) and held it overnight hoping for a gap up so I can sell it into up pressure. Well it pretty much did the opposite, and I ended up selling it right at the open for 3.30, a .03 point gain on a 1000 shares. A $30 gain is better than any loss any day to me. Anyways, probably won't be trading on Friday unless I see a huge gap-down/collapse on a stock that looks that it might have a Dead Cat Bounce before the close at 1:00p.m est that 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.

Happy Thanksgiving everybody!!!!

Trade of the day, HGSH!!!

I hate holding stocks overnight, but I pretty much had to on this one. I decided to go long 1000 shares on HGSH when it got a huge volume spike at 9:45a.m est breaking-out to new 52-weeks highs. Thinking this might be a possible head-fake, I decided to place my stop at just 3.07. My profit target was a least 4 dollars a share or higher on HGSH since it's so thinly traded, but when it was struggling the whole day to get to my profit target, I just decided to hold it overnight and hope for a gap up in the morning to take my profits. I will update this trade for you tomorrow on my blog and tweets.

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.

Trade of the day, ELAY!!!

So my trade of the day today was ELAY. I was watching this stock on Friday and notice it had good volume buying and selling every 5 minutes until the close. I have come to realize lately that these OTC/pinkies with a lot of good volume throughout the first big/pump day to the upside usually like to rally the next day if they don't gap up too much or have a little selling when they open. I decided to test my theory on ELAY today by buying 300,000 shares at .0035 and place my stop at .003 when this sineario started to playout on it this morning. Sold at .0065 when it started to get a little top heavy around .0070 for a .003 point gain. That my not seem like a lot, but on 300,000 shares that is a $900 profit in 30 minutes.
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.

Trade of the day, DVAX!!!

I wasn't going to trade DVAX today because it looked as though I already missed the bounce for it today in the pre-market when it went from about 1.91 to 2.40. Since I kept getting stop-out on TZYM earlier today I decided to look for a good entry point for DVAX at around 10:30p.m est knowing it probably won't break today's low of 2.22 with all of this volume holding it up. Went long 2000 shares @ 2.30 when it kept testing the intraday support level of around 2.30. My first stop was at 2.19, then I moved it to 2.30 after it broke through the 2.40 price range. Figuring that there might have been a lot of shorts in this stock I decided to hold it at least 15 minutes before the market closed hoping they'll start covering, and to my surprise it looked like the shorts started covering after 3:00p.m est and then day traders who were in here started selling at 3:42p.m est. Sold when a huge shooting star candlestick pattern formed at 2.49 for a .19 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 twitter @tradermike9.

Trade of the day, DMND!!!

So this chart here to the left is the 1-minute chart of DMND. The reason I went in on a 1-minute instead of a 5-minute chart was because it opened and it was already hitting a strong support level from back in 2007 around 15 dollars a share. I didn't want to wait 5 minutes for a reversal signal and see if it would retrace back up. When you wait too long for this easy opportunity, the party boat would have already left without you. Went long 500 shares at 14.95 after the hammer reversal signal formed.

Placed my stop at 14.89 (above pic) and then got my shooting star reversal signal to get out on the next bar. Exited at 16.25 for a 1.30 point gain. My day really didn't end up that pretty because I ended up giving half of my gains back when I got stopped-out twice trying to catch the Dead Cat Bounce on TZYM.

Trade of the day, IAG!!!

So the markets were pretty much on a straight downward spiral today, couldn't really catch any bounces. I got a small profit from PMEA today from entry of .135 and sold it at .14. The stock I was circling around the whole day like a vulture was IAG. I waited and waited for any type of possible reversal signal confirmation and I finally got one a half an hour before the market closed, so I bought 1000 shares at 11.93 and sold it at 11.95 for a measly gain of .02 point gain, but that was expected buying so close to the ringing of the bell. There is going to be probably more selling in the markets tomorrow, so I'll probably play VRNG for a daytrade and look for bounces on Friday morning.
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.

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.

Trade of the day, GALE!!!

A perfect textbook Dead Cat Bounce play on GALE that I tweeted right at the open on one of my consideration bounce plays for today. What made this trade so perfect is that the reversal confirmation          showed up on the 5-minute bar chart and 15-minute bar chart. Went long 5000 shares at 1.30 on the next 5-minute bar after the hanging man hammer formed and sold at 1.43 when it couldn't get to 1.50 (my profit target). My risk to reward was horrible on this trade, but it had too much of a perfect setup for it to fail.




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.

Trade of the day, BCRX!!!

Went long again today 1500 shares BCRX @ 1.35 after getting stopped-out yesterday on it at 1.37. It had a decent close yesterday, so when I saw the selling fear in the morning again today I thought it was way overdone. Sold/Exited at 1.57 when it formed a inverted hammer reversal candlestick signal with a higher volume bar on it. I knew I had to get out on the next 5-minute bar. I should have bought more shares, but didn't like the way the markets have been selling-off the last 2 days. Gained .22 point on this 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 twitter @tradermike9.