Trade recap for March 17th and March 18th

Stress from other things and a painful (but not huge) drawdown from my super-secret trading strategy have led me to be too risk averse and I have skipped out on several trades that would have been good such as on HMNA. I begin the video with a short rant against people who trade based on what their understanding of how important news is when they are far from experts in the field (particularly with biotechs).

March 17th profit: $312.50

March 18th profit: $220.65

Trades at IB:
+    BOT    25,000    SKTO    false    Stock    .081    USD    SMART    MAR 17 11:22:44        10.07
+    SLD    15,000    SKTO    false    Stock    .074    USD    SMART    MAR 17 11:34:31        5.54
SLD    10,000    SKTO    false    Stock    0.0730    USD    SMART    MAR 17 11:34:31        3.65
+    BOT    610    HMNA    false    Stock    2.210    USD    DRCTEDGE    12:38:28        3.05
SLD    610    HMNA    false    Stock    2.2500    USD    ISLAND    12:41:03        3.05

Disclosure: No positions in any stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

0 thoughts on “Trade recap for March 17th and March 18th”

  1. You picking on me about BTIM? I never read their shitty news or played the stock anyway.

    You’ll sound awful funny in your video recaps after I feed you a knuckle sandwich!!

  2. Ahh good for your, for a moment I thought your mouth was writing checks your body can’t cash!! 🙂

    I thought you were mad at me for calling your long pick a short on your post the other day, but I should have known da’ Reaper’s got my back.

  3. Hi Michael.

    Sorry for your losses. My trading has been absolute CRAP this week- on the wrong side of everything. The market is a bit sucky at the moment, IMO. Anyway, more experienced traders than myself have said to be careful at the moment, using smaller position sizes. Many of them are sitting out. I know I tend to overtrade. Thanks for posting.

  4. Who is your rant directed towards anyway? Sounds like you made a bad decision and you are trying to find someone to blame. Who are you to tell someone (fictitious person) that they CAN’T decipher the news? Is it just possible the news WAS crap and you were wrong? Trade the tape and leave your personal views out of it.

    1. -Sally

      I doubt that is what he’s doing

      I think Reaper’s point was that biotechs startups are pretty dangerous to play because of the difficulty in deciphering their worth or viability of their business under even investor due diligence time periods given the jargon and extreme specializied knowledge it take to run one of these.

      the can move counter intrinsic value for a long time as traders and investor have a hard time valuing these.

      Which makes attempting to translate their news as worth zero or worth something much more difficult than your typical penny.

      He’s just warning about the potential for overconfidence.

      I think it’s a fair warning.

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