Yesterday I wrote about Newcastle Investment Corp (NYSE: NCT), saying “Nice move today and after hours it broke multi-month resistance at $1.25. A buy if it breaks $1.25 during regular trading although if it gaps up it will be much riskier.” It opened at $1.23 and quickly broke above $1.25. I hit the ask at $1.30 to buy 1200 shares and soon enough it spiked above $1.50. I sold as it fell off that spike for a not very good exit of $1.43. Overall, a nice 9% profit ($144.00) on an easy trade. A better trader could have profited over 20 cents. I alerted NCT as I traded it on Twitter.
+ BOT 1,200 NCT false Stock 1.300 USD SMART 09:32:13 6.00
+ SLD 1,200 NCT false Stock 1.430 USD NYSE 09:37:10 6.00
My only two other trades today were CHINA and ZAGG, both of which were scalps off of TimAlerts. +$65 on the pair.
+ BOT 2,400 CHINA false Stock (NMS) 2.648 USD BATS 09:56:45 12.00
+ SLD 2,400 CHINA false Stock (NMS) 2.660 USD ISLAND 10:00:18 12.00
BOT 1,000 ZAGG false Stock (OTCBB) 6.1900 USD SMART 10:31:47 5.00
BOT 2,000 ZAGG false Stock (OTCBB) 6.1900 USD SMART 10:31:49 10.00
SLD 1,500 ZAGG false Stock (OTCBB) 6.2000 USD SMART 10:36:01 7.50
SLD 1,500 ZAGG false Stock (OTCBB) 6.2400 USD SMART 10:36:26 7.50
After I first published this post I made the following attempt at a fat-fingered short on MTXX, forgetting that MTXX has faked me out before. It is a little too high in volume to be good for this:
+ SLD 1,000 MTXX false Stock (NMS) 5.510 USD SMART 15:30:46 5.00
+ SLD 500 MTXX false Stock (NMS) 5.600 USD ARCA 15:32:49 BookTrader 2.50
+ SLD 500 MTXX false Stock (NMS) 5.600 USD SMART 15:33:02 BookTrader 2.50
+ SLD 500 MTXX false Stock (NMS) 5.620 USD SMART 15:35:34 BookTrader 2.50
+ BOT 2,500 MTXX false Stock (NMS) 5.604 USD ISLAND 15:47:21 12.50
Today’s Profit: $93.34
Weekly Profit: $573.93
I am holding DNE over the weekend, although that is looking less and less attractive to me.
Disclosure: Long 10,000 shares of DNE. I have a disclosure policy.
0 thoughts on “August 14th trade recap: Nailed Newcastle Investment Corp (NCT)”
Have a great weekend.
WTF!! Where was the the timalert BC spike! I figured as illiquid as ZAGG was it would blow the top off when he covered… Must be not enough minions could find shares.