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6 Jul

Thursday July 7, 2011

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Today was nuts but that’s how it goes sometimes. COOL delivered 10% in just 1 day so I had to take the estimated $1,300 profit. I wanted 10k GRHU but could only get 3k because it was so thin – no alert because it ran so fast there was no chance other than chat — but it was on my watch list. I had to scale out of GSTP for a big loss in both accounts but I’ll look to buy it back Thursday finally… GPXM never got promoted as suspected so I took a small loss there. It’s been a rough month for me and now I’m pretty certain I’ve pissed away some serious profits. This is no job for the weak though and I’m confident I’ll be rolling in green soon now that I’ve refocused myself.

Into Thursday I have 4 open trades and nothing in the challenge account. Remember, my new goal is 3% – 5% stops with 5% – 10% profit targets. If I say my goal is more that’s because I think it could go there but expect I’m always going to take profit after 5% – 10% because that’s how I trade best.

7.5k LOCM at $3.36, current $3.36, goal $3.80, stop $3.20’s. Not too excited with how the price action is trading but it’s still up from my $3.33 alert. If it holds this channel then I think we’ll still see $3.80 before earnings.

75k XSNX at $.07, current $.0735, goal $.10, stop $.06. Not much going on here but I’m hoping it picks up soon.

3k GRHU at $.72, current $.875, goal $1.50, stop $.72. Tried to buy 10k all the way up to about $1.00 this morning but it was simply too thin. I got my initial fill out in chat but there was no time to get it out on alert because it flew and then fell hard.

Short 30k POTG at $.745, current $.76, goal $.30, stop $.80. I took a small loss shorting POTG before the holiday so I figured I’d try it again. I think the promotion is over which means it should drift lower or possibly sell off hard. I have an aggressive goal here just because I’ve seen these types of plays fall apart before. Because shorting is new to PSL members these trades still aren’t going out by alert but once everyone is comfortable and has accounts at TOS and IB I’ll be sending them as well.

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