Recap for Friday the 11th: Support, once broken, becomes resistance (with special guest Joe Biden)

I had plenty of trades today, all but one of them in SNSS.

Daily profit: ($479.00)

Weekly profit: $388.14

SNSS 1-day chart
snss1day

SNSS 2-day chart
SNSS2day

Trades at IB:
+    BOT    4,700    SNSS    false    Stock    1.487    USD    ARCA    09:29:48        23.50
+    SLD    4,700    SNSS    false    Stock    1.494    USD    ARCA    09:30:56        23.50
+    BOT    4,000    SNSS    false    Stock    1.550    USD    ARCA    09:32:34        20.00
+    SLD    4,000    SNSS    false    Stock    1.500    USD    SMART    09:33:22        20.00
+    BOT    4,000    SNSS    false    Stock    1.570    USD    ARCA    10:01:23        20.00
+    SLD    4,000    SNSS    false    Stock    1.611    USD    BATS    10:03:18        20.00
+    BOT    3,000    SNSS    false    Stock    2.020    USD    SMART    10:45:22        15.00
+    SLD    3,000    SNSS    false    Stock    1.957    USD    SMART    10:46:21        15.00
BOT    2,500    JYHW    false    Stock    0.6400    USD    SMART    15:48:24        8.00

Disclosure: Long 2500 shares of JYHW. No positions in anything else 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.

0 thoughts on “Recap for Friday the 11th: Support, once broken, becomes resistance (with special guest Joe Biden)”

  1. Well stated comment about S/R levels (they work when they work, as you just don’t know when they will).

    I have this theory that on range bound days, all of the day traders are looking for “anything” showing some action. And usually a stock like SNSS will get noticed and then everyone will pile in.

    Best to get long on these types of stocks on those kind of days (range bound with little other action). They can and do turn out to be great shorts as well.

    MM

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