Yesterday closed at 1.79. Today opened at 1.90. Went as high at 1.97. Now at 1.85. I'm still holding as its only a small position but if I had to guess I'd guess it doesn't move up significantly from here.
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10:27
DDN is now at 2.00 with strong volume (11.7% gain from yesterday). It keeps hitting new intraday highs which is a very bullish sign I think. It stalled a bit at 1.95 then broke through and set 1.97 as its, then, its intraday high. Now if it can set a new intraday mark by breaking through $2.00 that would signal another buy signal, I think. If it doesn't crack 2.00 I may set 1.90 or 1.85 as my stop/loss
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10:42
2.00 hit previously then the stock retraced to 1.91. DDN is approaching 2.00 again now but there are a ton of shares for sale at that price. Huge wall. If it can break through 2.00 we may see 2.10 very quick.
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10:59
2.00 wall broken. DDN now 2.04. A ton of shares available at these prices suppressing any quick moves up. I may set my stop/loss at 1.95 to take any emotion out of the decision making process.
Strong volume + new intraday highs continually being set is a very bullish sign. However, this trend can reverse in a nanosecond as a major sell off will occur, I suspect, once support levels are broken, or if additional news isn't released to support the huge increase in shareprice.
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11:11
Iceberg on the sell side at 2.05. Curious as if this will send the stock lower.
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11:12
Huge buy orders broke down the iceberg at 2.05. DDN now at 2.07.
Set my stop/loss at 1.93. Should have bought more shares yesterday. Ahh well. Off to fuck off for the rest of the day.
Wednesday, January 9, 2008
Tuesday, January 8, 2008
4000 shares of ENG at 2.82 and premarket thoughts
FAAACK! Took a nap yesterday around 3pm. It was right about this time that ENG started moving up again, from its lows in the 2.30s. Thankfully though I woke up in time to employ the strategy I mentioned yesterday. ENG made a strong move toward the end of the day (the stock was up more than 40%) and I'll bet that the momentum continues at least for the opening bell. After the opening bell I'll sell at the first indication of a down-tic.
Yesterday, just before 4pm, I put in my buy order when the stock was trading at 2.70-2.75, but by the time my online broker took its time to fill my order the price hit 2.82. Its like I'm trading via smoke signals instead of the internet.
Premarket indicators for ENG are very good but it doesn't mean a thing till the first trade at 9:30 goes down, so I'm trying to keep excitement levels to a minimum. Quite often market manipulators or market makers will try and play with the pre-market bids to artificially affect the first few trades hoping to set a tone for the day.
As I'm waiting for 9:30 to arrive, I'll also let you know that once support levels are broken for a stock that has moved so fast as ENG its likely to fall back down pretty far and fast (I think its moved more than 50% since I started trading it).
Now, some of you might ask "Dumbass, if its moved more than 50% in less than a few days, why haven't you just held on to the stock instead of trading it?"
Good question.
Answer: there was no guarantee that the stock was going to hold on to its gains. For every one example of an ENG type of move, I can show you a million examples where a stock has had a good half-day or day then retreated and gave back all its gains. When given the opportunity I always want to protect my profit, especially if its half-way significant.
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9:31ish
Sold ENG at 2.85. A little disappointed the morning bump I expected wasn't higher.
Gold getting all the headlines. 500 shares of Kinross at 21.15. As long as Gold, the commodity, holds on to its gain today, I should do alright.
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9:41
Regardless of Kinross move today, already up $1.09 to 21.50, I probably will not hold it overnight. Commodities are tricky to hold between sessions for daytraders. If the underlying price of the commodity drops overnight it could wipe out all your gains from the previous day.
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10:07
wow. kinross up 1.86 to 22.27. I'm debating about either setting a stop/loss at 21.90 for all or part of my shares vs just selling all of my shares now. The price of gold is up more than $16, which is fuelling Kinross' move, and really how much higher can it go in one day? I know it can go higher, but realistically speaking how much more of a move will K make in just one day? Maybe I'll just take the uncertainty out of the equation ans just set my stop/loss at 22. If it gets hit thats a 3.8% gain in one day, if it doesn't get hit, I'll sell at the end of the day.
Either way, I shouldn't be a cocksucker and complain.
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3:55
Spent the most of the afternoon at Sterg's house playing Halo. Missed out on a montser run by DDN - up 1.01 to $1.79. Fucking Huge. I bought 1000 shares at 1.84 a few minutes ago hoping for a pop tomorrow morning. I only bought 1000 shares cuz I'm not familair with the company and am not certain exactly how it will open tomorrow, although I would guess the momentum continues at the bell. If it opens strong and holds its momentum I may take a larger position. I would've liked to take a larger position earlier in the day today but I completely missed seeing DDN run.
ENG opened higher then dropped 16%. This was expected, as we noted above, once support was broken it will far fast and hard.
Kinross finished up 93 cents to 21.34, so it looks like we made a nice short term trade by selling closer to its intra day high at $22 earlier today.
Yesterday, just before 4pm, I put in my buy order when the stock was trading at 2.70-2.75, but by the time my online broker took its time to fill my order the price hit 2.82. Its like I'm trading via smoke signals instead of the internet.
Premarket indicators for ENG are very good but it doesn't mean a thing till the first trade at 9:30 goes down, so I'm trying to keep excitement levels to a minimum. Quite often market manipulators or market makers will try and play with the pre-market bids to artificially affect the first few trades hoping to set a tone for the day.
As I'm waiting for 9:30 to arrive, I'll also let you know that once support levels are broken for a stock that has moved so fast as ENG its likely to fall back down pretty far and fast (I think its moved more than 50% since I started trading it).
Now, some of you might ask "Dumbass, if its moved more than 50% in less than a few days, why haven't you just held on to the stock instead of trading it?"
Good question.
Answer: there was no guarantee that the stock was going to hold on to its gains. For every one example of an ENG type of move, I can show you a million examples where a stock has had a good half-day or day then retreated and gave back all its gains. When given the opportunity I always want to protect my profit, especially if its half-way significant.
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9:31ish
Sold ENG at 2.85. A little disappointed the morning bump I expected wasn't higher.
Gold getting all the headlines. 500 shares of Kinross at 21.15. As long as Gold, the commodity, holds on to its gain today, I should do alright.
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9:41
Regardless of Kinross move today, already up $1.09 to 21.50, I probably will not hold it overnight. Commodities are tricky to hold between sessions for daytraders. If the underlying price of the commodity drops overnight it could wipe out all your gains from the previous day.
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10:07
wow. kinross up 1.86 to 22.27. I'm debating about either setting a stop/loss at 21.90 for all or part of my shares vs just selling all of my shares now. The price of gold is up more than $16, which is fuelling Kinross' move, and really how much higher can it go in one day? I know it can go higher, but realistically speaking how much more of a move will K make in just one day? Maybe I'll just take the uncertainty out of the equation ans just set my stop/loss at 22. If it gets hit thats a 3.8% gain in one day, if it doesn't get hit, I'll sell at the end of the day.
Either way, I shouldn't be a cocksucker and complain.
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3:55
Spent the most of the afternoon at Sterg's house playing Halo. Missed out on a montser run by DDN - up 1.01 to $1.79. Fucking Huge. I bought 1000 shares at 1.84 a few minutes ago hoping for a pop tomorrow morning. I only bought 1000 shares cuz I'm not familair with the company and am not certain exactly how it will open tomorrow, although I would guess the momentum continues at the bell. If it opens strong and holds its momentum I may take a larger position. I would've liked to take a larger position earlier in the day today but I completely missed seeing DDN run.
ENG opened higher then dropped 16%. This was expected, as we noted above, once support was broken it will far fast and hard.
Kinross finished up 93 cents to 21.34, so it looks like we made a nice short term trade by selling closer to its intra day high at $22 earlier today.
Monday, January 7, 2008
Roger's Increases doubles Dividend
I'm looking to buy 300 shares of Rogers this morning on news of solid 2ble digit growth and the doubling of their dividend. I'll look to buy right off the open, even though it gonna open significantly higher than Friday's close. I'll hope to see another $1 gain from its opening price.
TIM and ENG also look very strong in pre-market bids. Looks like I may have sold too soon on Friday. May get back in today.
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9:37
Held off on buying Rogers as it opened alot weaker than I thought it would. Price continuing to fall. Puzzled. ENG and TIM popped at the bell and look strong. I may look for an entry point again on these two.
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10:01
Missed out on a 20% gain on ENG today. Crappers. Just bought 3000 shares at 2.55 hoping the upswing will continue for another 10 cents or so. If the stock closes strong I'll throw a good chunck of change at it hoping it pops again tomorrow.
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10:10
unberlievable. ENG just hit 2.90 with strong momentum. Set a stop/loss for 2.75 for 1000 shares and will hold the others till my original entry price (2.55) is hit. This guarantees me a minimum of $200 for the day and will allow me to participate in any additional ENG rally.
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A little while ago.
Stop/loss was hit at 2.75 for my 1000 shares. Still holding 2000 but I expect my stop/loss at 2.55 will be hit also as its hard for any stock to hold on to such a big gain. May take a break till 3:30 and check back in on ENG's action.
My plan is, if its still held on to most of its gain I may try and buy 6000 shares at the close hoping for a pop tomorrow at the open.
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Stop/Loss at 2.55 was hit as well. Shit. I could've done a lot better Friday and today. ENG is back up to 2.75 again, up 71 cents. I'm trying not to get too down for leaving so much money on the table cuz (1) its better than losing money (2) the markets have been shit the last two days and (3) I try and keep all emotions out of my daytrades. Point number 3, above, by the way, is the 2nd rule of I Gets Money, Yo - never let emotions dictate your decisions. I'll elaborate later on.
Time to either watch some tv or download some porno
TIM and ENG also look very strong in pre-market bids. Looks like I may have sold too soon on Friday. May get back in today.
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9:37
Held off on buying Rogers as it opened alot weaker than I thought it would. Price continuing to fall. Puzzled. ENG and TIM popped at the bell and look strong. I may look for an entry point again on these two.
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10:01
Missed out on a 20% gain on ENG today. Crappers. Just bought 3000 shares at 2.55 hoping the upswing will continue for another 10 cents or so. If the stock closes strong I'll throw a good chunck of change at it hoping it pops again tomorrow.
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10:10
unberlievable. ENG just hit 2.90 with strong momentum. Set a stop/loss for 2.75 for 1000 shares and will hold the others till my original entry price (2.55) is hit. This guarantees me a minimum of $200 for the day and will allow me to participate in any additional ENG rally.
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A little while ago.
Stop/loss was hit at 2.75 for my 1000 shares. Still holding 2000 but I expect my stop/loss at 2.55 will be hit also as its hard for any stock to hold on to such a big gain. May take a break till 3:30 and check back in on ENG's action.
My plan is, if its still held on to most of its gain I may try and buy 6000 shares at the close hoping for a pop tomorrow at the open.
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Stop/Loss at 2.55 was hit as well. Shit. I could've done a lot better Friday and today. ENG is back up to 2.75 again, up 71 cents. I'm trying not to get too down for leaving so much money on the table cuz (1) its better than losing money (2) the markets have been shit the last two days and (3) I try and keep all emotions out of my daytrades. Point number 3, above, by the way, is the 2nd rule of I Gets Money, Yo - never let emotions dictate your decisions. I'll elaborate later on.
Time to either watch some tv or download some porno
Friday, January 4, 2008
The first rule of I Gets Money...
...is capital preservation. Protect your money, motherfuckers. This means there are going to be a million times you sell a stock for a loss. Get used to it. Check your ego at the door and accept the fact that a good percentage of your trades are gonna be losers. However, its a million times better to sell for a small loss than to hold on to a stock while its in a downtrend hoping that it'll reverse its drop.
Unfortunately, there are also going to be times when a stock will reverse its downtrend right after you sell. Dont worry about it. Save the self pity and buy back in if you like or look for another flip. From this daytrader's perspective, its a million times better to minimize losses and live to trade another day, than to hold on, once positive momentum is broken, and risk losing everything. Most daytraders have more losing trades than winning ones. This can fuck with a lot of trader's self confidence. The trick is to hit'em outta the park on a few of the trades you connect on. Most traders like to sell on strength. Thats fucking crazy, I think. If a stock is running let that bitch run. Take your profits off the table once the uptrend is broken. By employing this technique, you're essentially substituting the chance of selling at the high for a chance to let your stock run as high as it wants to go.
My only current position, presently, is 500 shares of Kinross. I'm in 2 days ago at $19.55. Yesterday it closed at 20.68 Even if gold has another good day today Kinross is likely to sell off a little before any additional significant gains. I'll keep a watch at the open and will sell at the first sign of weakness.
From now on, going forward, I'll try and post real time as I buy and sell shit.
Everyone from CNBC sucks my balls
I gets money, yo.
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9:34ish am.
Took a small position (3000 shares) in ENG at 1.81. I think I may get burned here as the rise in price today is all smoke and mirrors. I'll set my stop/loss at 1.75 and hope I'm wrong
Sold Kinross at $20.40. The stock will continue to rise if gold continues to perform well, but I wanted to take my profit off the table as the commodity may pull back a bit before rising higher.
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10:06ish
Sold 2000 of the ENG shares at 1.90. Trading too erratically for me not to take a profit when given the opportunity. I'll keep the stop/loss at 1.75 for the other 1000 shares.
May have a look at Timminco as its bouncing off an intraday low.
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10:17ish
Taking a shot a Timminco. Pretty familair with this stock's trading pattern as I've traded it at least 12 - 15 times. Bought 500 shares at 18.82. Its bounced more than $1 off its low today. Ordinarily, I'd say it doesn't have any more legs for a move up, especially on a shit day like today, but TIM is a runner. Set my stop/loss at 18.50.
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10:29ish
Moved up my stop/loss on both ENG and TIM to capitalize on their move up. Stop/loss for ENG is now set at 1.81 (my original purchase price; stock currently trading at 1.94 - 1.97). Stop/loss for TIM is now 18.80. Stock ran to 19.40 and now settled back to 19.10 - 19.11.
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10:45ish
Moved up my stop/losses again. ENG stop/loss is not at 1.95. TIM stop/loss is now at 19.35
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10:46ish
Stop/loss for TIM hit. Bought 500 shares at 18.82. Shares sold at 19.35.
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11:00ish
Stop/loss hit for ENG at 1.95. Bought 3000 shares at 1.81. Sold 2000 at 1.90 and the other 1000 at 1.95. The stock hit an intraday high so far of 2.11. Would have been nice to buy more shares and sell at a higher price but you can never complain when you trade a winner. Up $585 on a bad for the markets. I got lucky. I'll try and resist the urge to jump back in ENG or TIM today as its Friday and I believe the closer the markets get to close the more these stocks will sell off their highs.
So, thats probably it for today.
Adios.
Unfortunately, there are also going to be times when a stock will reverse its downtrend right after you sell. Dont worry about it. Save the self pity and buy back in if you like or look for another flip. From this daytrader's perspective, its a million times better to minimize losses and live to trade another day, than to hold on, once positive momentum is broken, and risk losing everything. Most daytraders have more losing trades than winning ones. This can fuck with a lot of trader's self confidence. The trick is to hit'em outta the park on a few of the trades you connect on. Most traders like to sell on strength. Thats fucking crazy, I think. If a stock is running let that bitch run. Take your profits off the table once the uptrend is broken. By employing this technique, you're essentially substituting the chance of selling at the high for a chance to let your stock run as high as it wants to go.
My only current position, presently, is 500 shares of Kinross. I'm in 2 days ago at $19.55. Yesterday it closed at 20.68 Even if gold has another good day today Kinross is likely to sell off a little before any additional significant gains. I'll keep a watch at the open and will sell at the first sign of weakness.
From now on, going forward, I'll try and post real time as I buy and sell shit.
Everyone from CNBC sucks my balls
I gets money, yo.
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9:34ish am.
Took a small position (3000 shares) in ENG at 1.81. I think I may get burned here as the rise in price today is all smoke and mirrors. I'll set my stop/loss at 1.75 and hope I'm wrong
Sold Kinross at $20.40. The stock will continue to rise if gold continues to perform well, but I wanted to take my profit off the table as the commodity may pull back a bit before rising higher.
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10:06ish
Sold 2000 of the ENG shares at 1.90. Trading too erratically for me not to take a profit when given the opportunity. I'll keep the stop/loss at 1.75 for the other 1000 shares.
May have a look at Timminco as its bouncing off an intraday low.
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10:17ish
Taking a shot a Timminco. Pretty familair with this stock's trading pattern as I've traded it at least 12 - 15 times. Bought 500 shares at 18.82. Its bounced more than $1 off its low today. Ordinarily, I'd say it doesn't have any more legs for a move up, especially on a shit day like today, but TIM is a runner. Set my stop/loss at 18.50.
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10:29ish
Moved up my stop/loss on both ENG and TIM to capitalize on their move up. Stop/loss for ENG is now set at 1.81 (my original purchase price; stock currently trading at 1.94 - 1.97). Stop/loss for TIM is now 18.80. Stock ran to 19.40 and now settled back to 19.10 - 19.11.
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10:45ish
Moved up my stop/losses again. ENG stop/loss is not at 1.95. TIM stop/loss is now at 19.35
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10:46ish
Stop/loss for TIM hit. Bought 500 shares at 18.82. Shares sold at 19.35.
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11:00ish
Stop/loss hit for ENG at 1.95. Bought 3000 shares at 1.81. Sold 2000 at 1.90 and the other 1000 at 1.95. The stock hit an intraday high so far of 2.11. Would have been nice to buy more shares and sell at a higher price but you can never complain when you trade a winner. Up $585 on a bad for the markets. I got lucky. I'll try and resist the urge to jump back in ENG or TIM today as its Friday and I believe the closer the markets get to close the more these stocks will sell off their highs.
So, thats probably it for today.
Adios.
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