Trade of the Day, VRNG!!!

Bought VRNG @ 3.28 after it broke through a strong support level at 4, so I had to catch that Dead Cat Bounce. I used a basic 1-minute chart to find the hammer and volume confirmation for the possible bounce. I placed my stop at 2.98 after I got filled @ 3.28. When it got to 3.70, I moved my stop to 3.48. My profit target was 3.90, but the stock started to get a bit to choppy for me, so I just sold it when it had a weird pullback on the 1-minute chart @ 3.57. It did end up hitting my profit target at 3.90 at around 11:55p.m est today, but I already sold it. Look what happen, it ended up collapsing more, then getting halted...LOL! Thank goodness I sold it without me being in that halt. Scored a .29 point profit off the trade. 

I tweeted this trade in realtime today, so if you want to see my trades during market hours just follow me on twitter @TraderMike9.          

What a relief!!!

I hope everybody in the Northeast stayed safe during Hurricane Sandy, and I want to extend my condolences to all the families who lost loved ones in the storm. I've been at casinos the last 2 days trying to get my fix since I couldn't daytrade...LOL! Anyways, markets are going to open tomorrow, and I think we should get a lot of sellers right at the open. Not sure how long the selling is going to last for, but it should be sufficient amount before we see any real buyers coming in. Get ready to short at the open tomorrow.

Closed Due to Bad Weather!!!

So the whole entire U.S exchanges are closed for the next two days because of Sandy, a.k.a Frankenstorm. The closing of markets is the first unscheduled market-wide shutdown since the terrorist attack in September 2001. This decision at first was just that floor trading was going  to be closed, then late Sunday night for some strange reason they decided to shutdown the whole market, floor trading and electronic trading. Great, now I had no plans since their decision came so late Sunday night. By the way, what happen to the remote location they were supposedly had setup just incase of an emergency situation just like today since at least 80% of all trades are not coming from New York itself? Well I guess I have to make the best of it and keep myself occupied until at least Wednesday. Siiiiiiiiiiighhhhhhhh!!!!!!!!!!!!

The Cannabis affect!!!

Update 11/7/12: Voters legalized recreational use of marijuana in Colorado and Washington yesterday. Look for a second pump on all these stocks I mentioned below on a post I did on this blog last month. Recently they also all had a bit of a pullback. 

Below was posted on 10/28/2012

13 Marijuana Legalization initiatives headed to the ballot in eight states in 2012. CBIS, MJNA, GRNH, HEMP, MWIP, and PHOT might get some unusual trading volume at least until election day (November 6, 2012). I'll do an update on this post and see what the price changes on these stocks turn out to be. Right now as of October 28, 2012 the prices are as follows: CBIS is .0503, MJNA is .125, GRNH is .04, HEMP is .0585, MWIP is .0048, and PHOT is .04.

Trade of the week, TAGG!!!

Sorry about how ugly this post looks. This is my first post on this blog in a long time, and I'am trying to get the hang of it (posting charts to this blog) again. Anyways, this was a great Dead Cat Bounce of TAGG today that I was able to catch 5000 shares for a $325 profit.

The Fear!!