Trade recap for the past few days: a crappy week

 

Profit last three days: ($290.62)

Weekly profit: ($1723.88)

Disclosure: Short 45,000 LCHL. No positions in any other 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 for the past few days: a crappy week”

  1. Thanks for the useful info on that market maker, will watch that for sure. Don’t worry Michael, you were right on the trades, you just had bad luck on the timing. Good luck next week!

    1. @Haxor – Well, it isn’t that that particular market maker is necessarily corrupt or anything … but I often see what looks like ‘bid support’ on pumps, and it is important to keep an eye out for that kind of price action. The actual market maker that is doing that is not as important as the fact that there is that price action. The people running a pump can route to different market makers and trade through different brokers just like I can.

      And of course you can never really be sure that what is happening really is manipulation without waterboarding the pumpers … but unfortunately we only rarely get that opportunity.

      And I wasn’t right. Half my losses for the week were from scalps on LCHL that I shouldn’t have made.

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