A lot of people asked me how I caught the moves in HGSI and DRL right at the open yesterday. In case you are new, everything’s been documented in the previous post’s comments section as well as on my twitter. HGSI required a 1.5 month time frame to make the decision to buy right at the open. DRL, however, required only the previous day.
I bought HGSI at $2.84 and DRL at $2.219. I sold half of HGSI at $3.52, sold a quarter at $3.83, and I am currently keeping the remaining quarter. I sold half of DRL at $2.65, sold a quarter at $2.49/$2.50, and I am keeping the remaining quarter. This is typically how I scale out of positions as they run higher. Potential tops are determined at previous resistance areas on the daily chart.
Within 15 minutes, I recouped my entire CIT loss. I told you that I would go back in the green, didn’t I? I didn’t think it would be that quick. You can see the upper sym tri resistance on the 1.5 month chart of HGSI and how the open would have gapped completely above it. You can also see the high-and-tight flag on DRL the day before yesterday, the most reliable short-term long pattern in existence.
So, that’s how I did it. There are dozens of patterns that I look for that gap at precisely the right location at the right time. It’s all about grabbing your balls and executing the trade immediately at the open. There is no room for “thinking about it” as you are guaranteed to miss the initial move. As long as the setup is high probability, it’s a risk worth taking.
In the end, CIT failed to do damage to my portfolio. My weekly gains stand at approximately +6.5% and my 208%+ YTD gains never fell below the 200% mark. The more you don’t care, the more you are able to focus on making things right. I had no choice but to be more aggressive yesterday to quickly take advantage of these gains and contain the damage. Folks, I do this nearly every single day. It’s nothing new.
Imagine if you could bag a +20-30% gainer almost every single day? Welcome to my life.
Even better, dozens and dozens of people benefited from my trades. Read the comments on yesterday’s post or look at a screenshot of my @replies: http://i587.photobucket.com/albums/ss311/chartaddict1/1-8.jpg
Anyway, I’m thinking that the SPX pulls back to the 50-day support over the next few days. A breakout of the multi-month high would be an enormous victory for the bulls. It will confirm the possible continuation gap that was formed on Wednesday.
If you look at the COMP, you can see that the index actually made a new multi-month high. The pattern is extremely bullish on the daily. We can see a descending bear pennant and NOT a head and shoulders.
Nice job
If I didn’t know better I would of went long DRL @ 2.60 today thinking it was a bull flag
Any advice?
Nice job
If I didn’t know better I would of went long DRL @ 2.60 today thinking it was a bull flag right before it broke down
Any advice?
Nice job
If I didn’t know better I would of went long DRL @ 2.60 today thinking it was a bull flag right before it broke down
Any advice? .
What’s the blue dotted line on your charts? Is that the stop loss price point? Or just the buy the breakout above this blue-line point?
Look forward to being schooled by the young stock zen master-maestro, less than 1/2 my age.
R-E-S-P-E-C-T !
.
8)
Are you one of the “chosen ones” or are you just being sarcastic?
Good luck, either way!
not being sarcastic
got an ‘acceptance’ email … look forward to it
thx 4 luck .. same 😉
@ketchup — that’s what stops are for, right? Once it failed to bounce at the 50 it collapsed. Sometimes patterns fail. Stop would have limited the damage.
Should we have a surpise rally today, I’ve got a list of stocks that are seriously shorted and could be exciting. Yesterday I made a blowout fast 15% in MTG and something like that or more in DRL (one of CA’s amazing gifts yesterday). Using what I’ve learned from CA (I hope) I stopped out on MTG at 4.90 which was very sweet and seemed like a reasonable spot. To my inexperienced self (PLEASE REFERENCE REPEATEDLY), these seem best suited to day trades, though I’ve clearly held some for several days, however even my holds have done well without popping – yet.
I’m watching (#’s rounded, float percent and / days to cover);
DRL: 41% / 9
TLB: 39% / 6 (my first extremely rewarding experience with a squeeze)
CONN: 68% / 22
CCRT: 41% / 76 (nasty biz, high risk)
INT: 30% / 12
GMCR: 36% / 7
EQY: 31% / 30
NFLX: 31% / 7
OZRK: 37% / 29 (still holding)
ALGT: 45% / 12 (still holding)
DRL was pretty damn exciting, you could almost feel the panic as the stock action moved up and down. All that being said, I remain loaded for bear as I trust no-one at this banquet. Now go make money out there.
left out QSII 34/12
Crap, also left out WRLD, another skanky play from yesterday – 44% / 15 – I didn’t hold much overnight and this wasn’t one of them, but it’s close to the top of my list.
Sold last qtr DRL $2.50
CBLI anyone? Daily chart looks like it could break out above $4.49
then it drops 10 cents after i post. keeping an eye on it though
HEB
SVA
EDGR
MRNA
long all of them here
LNET on the daily. Looks like a good setup.
INT at 39.95
Bought HEB $2.11
in HEB at 2.07
Anyone care to comment on VNDA? Looks to be breaking out.
In on HEB 2.12
wow i guess we’re all seeing the same thing, nice! either we’re all right or all dumbasses
what is your price target for HEB? Thx
LOL
SWSI 6.59
Sold last qtr LIZ $2.85
LVLT looking ready….
Like the way LVLT is trading, going to triple down @ 1.56 when it breaks out of this nearterm consolidation.
agreed, LVLT doesn’t seem to care what the market is doing, the ask is just getting hit over and over…hopefully it continues like this…
TWB looking poised
I’m short HGSI. I’m thinking there will be an exodus from the stock in front of Monday’s possible negative news. I will close it out sometime today.
Bought more LVLT @ 1.56
Sold last qtr HGSI $3.51/52
SVNT about to b/o
SPPI is running for some reason?
Doubled LVLT $1.55/56
animal … like your take no prisoners style/confidence
in Heb too. What is you guys’ price target?
As CA would say…if you don’t have a price target going in…then you are following blindly and shouldn’t be trading that stock.
ACAD is looking good; might be too far away from its 50 and 20 day though.
loaded up heavily on LVLT between $1.53-$1.55
UXG swing scalp 2.72
CPST 0.831
EROC 3.14
WATG is breaking
Looking at abio here
Time to short LIZ? odd no?
Mark, my HEB target is the blue line at
http://finviz.com/quote.ashx?t=heb
Around 2.40?
Too much supply in HEB. Not going anywhere in my opinion.
sold ETFC 1.26
PCBC is a monster!
Almost time to short CRTX?
CA, sick trades over and over and over again. Been watching since your first day at ibankcoin.
If you don’t mind the question: with the big movers you keep finding, it seems like the 200% mark has been a plateau for your gains. I can’t figure out how that is possible with the size and frequency of these double digit winners you keep hitting. I would have thought your return would have gone parabolic by now ( kinda like that HGSI trade).
What am I missing? Thanks.
Indeed, my performance is a collective of all of those home runs. My gains are about 210%ish at the current intra-day moment.
here come the squeezes
CBLI mentioned earlier BTFO
SQNM looks good
IDT on daily anyone?
$HEB, who is the fucker putting a big block at 2.13?
dude,,,its 18,000 shares offered..stock traded over a million..re-fucking-lax
ICO b/0
SYNM 2.15
anybody watch PCBC today? LOL
yep bought back in at 2.69 and still holding
INCY 3.89
Bought MTXX $6.149/15
Sold half LVLT $1.56
Sold half HEB $2.07/08
get in ICO
i like ICO more than PCX. catches most of the upside but doesn’t fall as fast.
thoughts of MNTG on the daily? looks like a nice bull flag. break above $3.90 would be a buy, imo
sold INCY 3.86
Sold LVLT $1.53/53.5
Sold LVLT 1.54… hate to sell it, but dont like taking losses
Sold also at 1.54. Market isn’t cooperating today. It looked like a great setup.
of course LVLT starts ripping after we sold
Sold MTXX $6.15
Sold HEB $2.06/07
100% cash. Done for the day. I have a flight to catch in a few. Goodluck everyone!
all the sheep will be lost in the field…and get goat fucked…..
Why do the profit gods slumber? Apparently they insist on sacrifice of my holdings…
anyone experiencing problems with Etrade right now? it’s giving me fits
etrade is having issues..a buddy just called me with same thing
fuckers
Zecco is having problems too…hmmmmm….
It’s running really slow for me today.
same here but the iphone app is running well.
It’s repaired. Everything is running fine now.
Short CHINA @ 2.33… small position, 2.40 stop if things go wrong (a little tight, but up for some friday action)
Short CHINA as well. Covering at the close.
ATSG on the move
really…doesnt look like it..up 6 cents….unless of course you own 10 million shares…
I was looking at daily 🙂
IDT on the daily…..
Bot GLW potential for a BE out of range … anyways I am holding into earnings.
RDN moving 1 min chart
CIT ripping
Look at the move by CIT
i had CIT on the screen @ 12:30, just as it started the move, and i never pulled the trigger, even though the voices were screaming for me to do so. that would have been the fastest 50% i’d have ever made.
scaled into $CIT today at .60, .65, .70, will hold it through the weekend
http://chart.ly/3c4t2t
will hold $HEB (2.10) through weekend as well
bot a small bit of $URE (3.46) as well
all swing – off for the weekend
finally stopped out of UAUA 3.35
Hope somebody else got some LTXC …. ripping!
good pick man, are you still holding?
all of it …. they just extended their debt from 2010 to 2011 and have $1/sh cash … sector recommended by Fly and new orders (MXIM) coming in and anticipating revs to rebound in Q4 from $25M to $31-34M with margins improving.
Per the CEO: “We believe our third quarter revenues reflect the low point in this business cycle. While we are now seeing some bright spots in the wireless, power management, and consumer digital segments, most semiconductor manufacturers do not have a clear picture of the sustainability of their business beyond the current quarter. As a result, the overall business environment remains cautious. We have essentially completed the integration of LTX and Credence well ahead of schedule and with significantly greater synergies than originally expected. With the integration efforts largely complete, we are focused on growing sales and developing the right products to increase market share.”
TLB starting to rip – that was one of my biggest wins ever a few months ago when it popped on a short squeeze. Working up the nerve to raise cash to get back in it.
their clothes suck…they are like for 60 yr old skanks…
Oh believe me, I know, I used to live in Narragansett and spent time in Newport. Last time I bought I kept posting something to the effect – “does anyone really buy this crap anymore”. I held my nose through around 100% gain in a very short time. Hate the clothes, loved the stock.
holding LVLT, HEB, SPPI over the weekend. 1% trailing on that bitch LIZ (since CA exited. it’s held). anyone seen the move in URRE today? i have only a token few to follow it by, so i’m not benefiting.
still in MTXX…
LVLT starting to move price and volume.
totally jinxed it…but the intraday tape on LVLT has gotten more interesting. All in all, the day must be a very, very tense one for the bears as we head into the close.
LVLT still looks like it’s consolidating and ready to pop….
yeah, it will be one I hold over the weekend.
watch for the news to see if CIT is really bailed out by GS… when that news hits, thar she blows
ERY 21.24
EDZ 11.97
And my HGSI suspicions were true….covering at the close.
Nice trade Wood … came this close to joining you but got caught up in other stuff.
Wow, nice trade. Sell news.
An easy money bet here is on straddles for this one…
I’m thinking short ahead of it, but we shall see. Either way it will be big
hahahahhahaaaaaaaaaaaaaaa ahhhhhh hahahhhaaaaa hope u didnt follow your own advice…wow…ur fucked sideways
out of EDZ and ERY for small gain
HOKU anyone?
LVLT closed at it high! From what I read that a good sign, right?
TLB was the squeeze winner, up 6%, but not one of mine because I’m a coward and I took my eye off it at the absolutely wrong part of the day. I was in the money all day with INT but it was only a 1% gain for me on an overall losing day, despite fine returns on silver and gold which I took profits on all day and am now out completely for now (I had 10% or better gains in almost all of those over the week). Holding LVLT (my biggest holding and I think a great chart), HEB (another exciting chart), INT, LXK, STAR, NSTC, EGLE, CENX, and somehow, that bastard that punched me in the jowls today, CVBF. Rookie mistake not cutting it loose earlier in the day. 70% cash at the close. If the market opens strongly on Monday I’ll be looking at TLB among others.
Covered CHINA at $2.14….8.1% profit
well done
What do you think of this article re: T/A from Barron’s:
http://online.barrons.com/article/SB124763014060843605.html#mod=BOL_hpp_dc
holding SQNM into this week, conference this w/e plus investigation results due soon
gravtar test
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