Another disappointing day; I captured less than 1/3 of the profit that I should have had in NLST. Still, another $1k+ day.
Trades at IB:
SLD 1,000 IMGG false Stock (OTCBB) 1.6400 USD ARCAEDGE 09:43:02 5.00
SLD 500 IMGG false Stock (OTCBB) 1.6400 USD ARCAEDGE 09:43:33 2.50
BOT 500 IMGG false Stock (OTCBB) 1.4350 USD ARCAEDGE 10:20:52 2.50
BOT 500 IMGG false Stock (OTCBB) 1.4600 USD ARCAEDGE 10:21:39 2.50
BOT 500 IMGG false Stock (OTCBB) 1.4700 USD ARCAEDGE 10:22:23 2.50
NLST 4 day chart
NLST 1 day chart
Daily profit: $1,574.43 (after adding in profit on position closed after-hours; see comment #1 below)
Disclosure: Short 5,000 shares of NLST. No positions in any other stocks mentioned in this post. I have a disclosure policy and you can find all my disclaimers there as well; those disclosure & disclaimers are incorporated by reference into this post.
Covered 1k of the 5k I was short 3 minutes after this post was published, at 3.96. The profit total has been updated but the disclosure has not. So I am now short 4k NLST.
wow… dude you sound so sad…. :*( DONT WORRY THOUGH YOU’LL GET THE NEXT BIG SUPA-NOVA!!!.
I wouldn’t call disappointing a $1k+ profit day 🙂
FWIW: I followed your tweet when you shorted @ ~ $5.50 and made a nice profit for myself.
I share the pain of a profitable day that still leaves me unhappy. I had a intraday margin call from TOS due to a “software account glitch” (their words, not mine) that caused their clearing house to issue a call and a request that I close out my positions until the margin call was met. Ended the day up 600+ but missed most of the downtrend on NLST AND left over .40 a share on LVS on the table. Everybody I talked to at TOS agreed with me but there was nothing they could do. Their margin manager said he has not ever seen a call like this. Really rather dishearting! — Anyway, met the call so I am good for tomorrow — just don’t have a good setup now!
wow! — I just listened to your recap — you DO sound sad! You need a good steak and a nice red wine. Come to STL – I have the steak house all picked out.
qb, considering he traded 15000 shares of a stock that tanked 20%, I think I would be pissed too.
I hope you get some redemption tomorrow for your efforts, you deserve it.
Okay, if anyone wants to make me happy, please vote 5 for a couple of my requested features at IB (only IB clients can vote; to set up your account to vote you need to go to IB Account Management > User Management > Voting subscription):
http://www.interactivebrokers.com/en/general/poll/poll.php?sid=3733
http://www.interactivebrokers.com/en/general/poll/poll.php?sid=4696
Preston, yeah I know… not extremely happy myself… could have made a lot more: I ran out of my short when Tim did bec. I was afraid of a squeeze… we all know what happened next.
But hey, I wish for many more days like this one, where I made a few mistakes and ended with a $1k+ profit 🙂
Sorry Reaper, can’t vote on IB. Cheer up, that 4k shares position looks like a sound one for tomorrow’s game
noticed you bought imgg….nice! hopefully we see a good day tomorrow
chris, he is short on IMGG….I still don’t understand how you guys make money going long these POS stocks.
I barely make profits with iron clad systems following rules that really work.
qb, yeah congrats on your gains, you have been doing really well lately. You need to be updating your Covestor if it’s not auto, you will be sorry if you don’t take the time to do it. IMHO
Was short IMGG. No position now.
No watchlist tonight.
Thanks Preston.
I stopped updating covestor because is not automatically linked to my broker (Sogotrade) so I had to manually type every trade… a pain when you keep on adding lines to your ToDo list and your free time drops to zero. I am still using Trade Performance free version (http://www.tradeperformance.com/) to track my trades, but only for personal use. Luckily for me, I do not need to prove my own performance to others (it’s so low that everyone believes it… LOL)
NANO tanking this morning, maybe a good short after the run up.
They just announced a stock offering.
I’m all out of NLST for another $500 or so.
Congrats on NLST.
I’m stubborn, still holding. I believe this thing tanks further after opening spike. I’m going to hold a little longer with my small position, and I’m in at 5.24 so I have some room.
I hope everyone covered NLST shorts! While I’m still annoyed at how I traded it yesterday I feel better considering my good cover this morning (I was watching and about to cover when he who shall not be named covered).
Fuck it, covered for break even. I’m eat up with stupidity.
I guess it will dive now, to distraught to play it again.
Welcome to the suck … at least you don’t have a loss.
New post: http://www.reapertrades.com/2009/11/the-six-rules-of-trading/