OTC's daytrading adventures day 6.
I tried to grab GBIM in the morning sell off. Had a bid at 2.01. Missed it by .02 as it only sold off to 2.03 before rocketing back up.
Traded this one for a small loss. It broke out so I bought it hoping it would move after breaking out. Instead it sold off so I took a small loss rather then holding and averaging down like I would have before. It ended up working as it petered out all day. If it had ran I would have done well on it. SInce it didn't I took a small loss. I consider that a victory.
IMNP
2,000 06/21/2016 0.625 1,257.0 S 06/21/2016 0.61 1,212.98 (44) Short
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Noticed twer building before lunch. Sold it at almost the perfect time. Almost nailing the top of the day. Small profit of $132.00
TWER
6,800 06/21/2016 0.1761 1,202.2 S 06/21/2016 0.1911 1,292.43 90 Short
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TWER
3,200 06/21/2016 0.1761 565.8 S 06/21/2016 0.19 607.98 42 Short
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Then I tried again with TWER following a pullback. Sold at a small loss when it broke through a support line on the daily chart. Lost $82.00
TWER
700 06/21/2016 0.178 206.1 S 06/21/2016 0.1702 119.07 (13) Short
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TWER
100 06/21/2016 0.178 17.8 S 06/21/2016 0.17 10.00 (8) Short
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TWER
7,700 06/21/2016 0.178 1,370.6 S 06/21/2016 0.1701 1,309.74 (61) Short
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Saw RXII form a long green candle after lunch. Waited for a pullback and then hoped it would move back up. I could tell it was petering out so sold for a tiny profit of $36.00
RXII
1,000 06/21/2016 2.50 2,507.0 S 06/21/2016 2.5501 2,543.05 36 Short
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Because I had a core position in PERI I saw the news right away. I added 1K shares just to trade on the news. Then decided I would also sell the 2K shares I had bought yesterday while holding onto my core position. Made $445 on that one.
PERI
1,000 06/21/2016 1.15 1,157.0 S 06/21/2016 1.30 1,298.97 142 Short
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PERI
264 06/20/2016 1.1325 299.0 S 06/21/2016 1.30 342.93 44 Short
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PERI
1,671 06/20/2016 1.1399 1,904.8 S 06/21/2016 1.30 2,170.58 259 Short
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PERI
65 06/20/2016 1.14 74.1 S 06/21/2016 1.30 84.43 10 Short
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Loss of 44, profit 132, lost $82, gain of 36 and a gain of $445. That works out to a gain of $487.
It was a slow day in the market and I was lucky Peri had news that I saw right away because of my core holding. I was unlucky in that I missed GBIM by .02 on my bid and it would have been a big gainer. Almost everything that was on the top 10 gainer list early in the day petered out so I am glad I didn't try to stick with anything or average down. By cutting my losses early on the two losers I lived to fight another day.
$577 profit in 6 days. The damage done yesterday ruined what had been some good returns but I am back on the right track and armed with a better strategy of cutting losers early.
