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, 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.