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18 May

Thursday May 19, 2011

by

Life is crazy and trading is no different. Yesterday I kicked myself in the ass for my poor choices chasing SGYP and then missing my entry on the one stock I’ve been stalking for months >>> LQMT!!! The good news is some of you held SGYP and it charged right back up today higher than my entry price, go figure. The guy who recommended SGYP is the real deal, so if long is your thing it can’t hurt to follow him there. I’m a momentum trader which is why I had to exit.

With very little sleep last night, I came into today planning on doing very little trading if any. Yes, trading is stressful, money comes and it goes and you need to be able to manage the swings or you’ll go nuts.

So I started my day like I always do with some LIVE Updates and a basic watch list blog post. Then off to my EquityFeed tool to find some potential trades for the day. Honestly this tool is often better than any watch list I can create because it identifies ideas before the herd hears about them. If you have not watched my morning routine, I suggest you watch this video.

I used that tool to find my winning trades today, ZOOM 6% on news, HDY 21% on news and MOBI 13% on second green day squeeze. I didn’t even trade them well and I still locked in $1,879 in profits using this simple strategy. Does it always work, no… honestly I thought I missed on ZOOM and then it took off later in the day. What it does do is get you in before the herd, the trick is finding stocks that aren’t going to sell off on news and usually the chart will show you that.

Now I couldn’t text all those trades because Trumpia only allows so much information in each text, which is why I thought and email was the best way to get everyone not in chat the information quickly. Having said all that, here is what I have heading into tomorrow, a lot has changed.

I dumped my 2k ANIK at $7.60, honestly couldn’t stand looking at it anymore and hate to tie up $16k on a stock that’s doing nothing right now. I think I lost over $1k total but I’ll know for sure when I do my upload. Taking that loss taught me yet another lesson so it’s worth it if I don’t repeat the mistake, I don’t go into details right now.

I added 5k LOCM on the dip today like I said I would at $3.39 so my new average is 10k shares at $3.57 which, after the run today brought me back to even for the most part. Looks to me like the shorts are starting to cover so I’m hoping we see a massive squeeze between now and Friday’s close.

Still riding all of my GSTP and I have plenty of patience on this one. The ‘E’ was dropped today which is a great sign, now I’ll look for it to get going again. I basically have 3 blocks of shares, 25k per block. Challenge account at $.13 and main account at $.21 and $.12. Trading picked up today which is a good sign, now I hope to see it head back up the charts.

Finally, into the close I grabbed another ‘GSTP’ type play, CLNO, but I’m hoping to see it pay off sooner than GSTP is based on the chart. I grabbed 30k shares at $.21 and I’m hoping to get a quick 10% on it should it continue tomorrow or Friday.

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