From a few days ago, just hadn’t gotten around to writing about it…as I mentioned HERE, I shorted 2,000 (KOG) at $2.75 near the market close when it cracked sideways price action so I thought it’d go negative on the day—I was right that it did go red, but I didn’t take my 10 cents/share gains cuz I wanted a big drop—not a pesky $180 profit. Unfortunately, I had a flight to catch the next morning…
Took a later flight to watch the market open—wasn’t comfortable at all since it opened above the sideways price action crack of $2.80, covered at $2.82, a $160 loss including commissions. Screw that, played I safe…I can take $160 losses all day long. Later in the day, it went decently red down to the $2.60 area, so I wasted $400, but when I play volatile stocks, I don’t worry about predicting every 10-20 cent move—I take my 20-50 cents-$1/share gains thinking stocks will make much larger swings (so I won’t have to be perfect in my timing) (such as THIS trade)
Three days later and KOG is still bouncing between $2.60 and $2.90, a clear sign that a big drop was never in the cards. So, my loss wasn’t that bad. Decent trade…glad to hear any of you timed it better and escaped with some profits!
As I posted here, the very next day, I bought 400 shares of (VISN) at an $14.45 average on its breakout to new highs right before the market close…the stock didn’t close strong at all—surprisingly—down from $14.90 and I just wanted to get the hell out without losing much…at the open the next day, despite a strong overall market, buyers were few so I sold at $14.16, a loss of $132 with commissions. Stock tanked quickly to $13.70 before rebounding to get back to $14.90…another one that did eventually move in the direction I expected, but it got there in an ugly manner. Two days later and the stock is at $16…I don’t regret selling, I was protecting myself…left $700 on the table, but there was no way of telling that’d happen…I do it all over again just the same. That’s me, conservative TIM, you guys play it however you want, not much harder to do better.
Next!
Tags: Decent Trades, Impatience, Safe Trades
