August 14th trade recap: Nailed Newcastle Investment Corp (NCT)

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

($115.66)

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)”

  1. 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.

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