Trade recap for November 17th: My pathetic inability to trade supernova NLST

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

NLST 4 day chart
nlst4day

NLST 1 day chart
nlst1day

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.

20 thoughts on “Trade recap for November 17th: My pathetic inability to trade supernova NLST”

  1. 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.

  2. 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.

  3. 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!

  4. 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.

  5. 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.

  6. 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

  7. 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

  8. 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)

  9. 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.

  10. 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).

Leave a Reply

Your email address will not be published. Required fields are marked *

Please complete the formula below to prove that you are human * Time limit is exhausted. Please reload CAPTCHA.

This site uses Akismet to reduce spam. Learn how your comment data is processed.