Trade recap: Market insanity edition

I missed all the good trades on the market panic but I live to fight another day.

Daily profit: $835.60

A new strategy of mine: playing bounces after huge panics. +$4 on two trades so far. Recent bounce plays I’ve attempted:

POSC – bought at low of .102, sold at .1075 (oops)
POSC_bounce

PDGO – Bought well at 1.44, sold half at 1.525, sold rest at 1.349. Lesson: risk is much higher the less a stock has dropped. My identification of where it would bounce using level 2 was correct, however.
pdgo

Trades:
+    BOT    2,500    AMEL    false    Stock    1.579    USD    ARCAEDGE    08:51:15        12.50
+    SLD    5,000    LEI    false    Stock    2.600    USD    SMART    09:43:14        25.00
SLD    5,000    LEI    false    Stock    2.6100    USD    SMART    09:43:20        25.00
BOT    5,000    LEI    false    Stock    2.5200    USD    ISLAND    09:44:57        25.00
+    BOT    5,000    LEI    false    Stock    2.496    USD    ISLAND    09:45:54        25.00
BOT    5,000    LEI    false    Stock    2.3300    USD    SMART    12:51:15        25.00
+    SLD    5,000    LEI    false    Stock    2.360    USD    ISLAND    12:51:38        25.00
10:14:05    PDGO    B    1.44    1000    ETMM
10:14:05    PDGO    B    1.44    1000    ETMM
10:15:35    PDGO    S    1.525    1000    NITE
10:17:09    PDGO    S    1.34    100    NITE
10:17:14    PDGO    S    1.35    900    NITE

Disclosure: No positions in any stocks 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: Market insanity edition”

  1. yeah, gotta be careful with that strategy Reaper… ask buyers of ITMN at 50%, 60% and 70% drops in AH… CLRH another – NO intraday rebound.

  2. do you have a scan for finding those PANIC drops, how to find
    them, where they pumps you were watching? thanks

    another question for your mailbag- if you know a stock is going to drop nicely, (Its a supernova pump, you dont know today or tomorrow but …)what do you watch for on an intraday chart, im always afraid to get caught too late. I would be indebted to you for an answer! is there a pattern?

  3. another question, many of the stocks that are discussed chart badly on ameritrades Strategy desk, occasional candles and slight specks appear, terrible charts to look at and make decision,i know i have to move from ameritrade but what charting is good for these stocks,
    i hate to waste time downloading and trying new chart packages! thanks

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.