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. Just there were a lot of market makers on the bid and very few on the offer. It also matters which market makers were where.

  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

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