July 31st trading recap

As I wrote last night, I have some house-guests, so this is a short post.

Here are today’s trades, with little comment:

  • +    BOT    200    GGC    false    Stock    16.410    USD    SMART    09:31:38        1.00
    +    SLD    200    GGC    false    Stock    17.610    USD    SMART    09:41:51        1.00

GGC was negative in pre-market. I bought it just a minute after open after it jumped green. I had incredible patience for me, selling 10 minutes later after it twice failed to take out big offers at $18.10. This turned out just like I thought it would.

  • +    BOT    800    IBNK    false    Stock (NMS)    1.829    USD    BATS    10:01:47        4.00
    +    SLD    800    IBNK    false    Stock (NMS)    1.760    USD    SMART    10:16:04        4.00

Pre-leader long on breakout to new high. Small trade. My winning ratio on this type of trade is poor and I net about breakeven overall.

  • BOT    200    GERN    false    Stock (NMS)    8.8397    USD    SMART    11:12:34        1.00
    +    SLD    200    GERN    false    Stock (NMS)    8.970    USD    ARCA    11:13:50        1.00

Bought on red/green (a bit slow). Halfway decent trade.

  • BOT    500    INO    false    Stock    2.01    USD    BATS    11:21:02    BookTrader    2.50
    +    SLD    500    INO    false    Stock    2.040    USD    ISLAND    11:22:18    BookTrader    2.50

Pre-leader long. If I had given it more room to run I wold’ve had an easy 30 cent profit.

  • BOT    500    VHC    false    Stock    4.38    USD    SMART    14:26:39        2.50
    +    SLD    500    VHC    false    Stock    3.898    USD    AMEX    14:27:50        2.50

Dumb play on VHC, I had the right idea but I was slow to sell and buy. I am generally bad at quick-moving plays like this that can go either way.

  • +    SLD    3,000    PAL    false    Stock    3.110    USD    SMART    14:25:52        15.00
    +    SLD    3,000    PAL    false    Stock    3.088    USD    ISLAND    14:28:29        15.00
    +    BOT    3,000    PAL    false    Stock    3.020    USD    ARCA    14:59:31        15.00
    +    BOT    3,000    PAL    false    Stock    3.030    USD    SMART    14:59:48        15.00

PAL was what I call a fat-fingered short. I don’t mind going reasonably large in these; risk/reward is good although this strategy leads to occasional big losses. In this case it was CNBC pumping it. 40 cents (18%) vertical moves in 30 seconds are in general good shorts unless there is real news. It didn’t turn out as I predicted but I still had a halfway-decent profit.

For your reference, here are my year-to-date profits for the above-mentioned trading strategies:

Fat-fingered shorts:

Total Profit $2,889.99
Avg Profit % 0.55%
Wtd Avg Profit 0.86%

Pre-leaders longs:

Total Profit $67.89
Avg Profit % 0.66%
Wtd Avg Profit 0.26%

Today I netted +$348.39.

Disclosure: No positions.

0 thoughts on “July 31st trading recap”

  1. I just want to say thanks for your time and I hope you have a great night/weekend with your guest.
    I’m packing for Baytown to start my job at Exxon and will leave Sunday to stay the week in my camper so my time next week might be limited.
    I know your not a fan of these but here is my watchlist.
    I like AEM after Cramer pumped them and they had decent news, short above 58 and cover under 55.
    MCD, long under 55 and sell over 58.
    I also like ACH for a long term play on CHina but would like to see a pullback first, I bought this first around 12 and sold at 16 and of course it flew after that. 🙂
    I know these are not your style but thats where I’m at, hopefully after some more time I will be able to do better, and still waiting for your paid service, I would like to be your first costumer. 🙂

    Preston

  2. Have a good move Preston! I hope the new position works out for you.

    As for my paid service, I can absolutely say it will be at least a half a year before I even consider doing that. But I appreciate your interest in my offering such a service.

    Please let me know what you think I should write about on this blog and what you think a paid service of mine should look like. I am always looking for feedback.

    I’ll take a look at your stocks when I do my scans Sunday night–I’m enjoying being away from my computer for the weekend.

  3. Thanks Michael, I have a few more but again I know they’re not your style.
    I’m heading out this morning for TX, 9 hour drive pulling my camper and I’m bringing my wife and little boy, hs is certainly excited to “go work with dada in big camper”. He’s only 2.5 years old.
    I hope your weekend went better than expected away from the computer and I will check back later tonight on my laptop.

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