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
0 thoughts on “Trade recap for March 17th and March 18th”
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!!
lol … don’t bring a fist to a sword fight. And no, I wasn’t talking about you in particular.
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.
Didn’t you know, my long picks make great shorts too!
First Curtly and Tim, now you guys?
lol we are not at all serious.
Speak for yourself Reaper!!!! 😉
I had assumed when I started quoting lines from “Top Gun” my sarcasm would have been obvious.
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.
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.
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.