Yup, posted about another couple of trades rather perfectly, even while I personally screwed them up a bit…this has gotta be some kind of record, what is it 10 years of this crap now? Welcome to my life brothas!
Wednesday: After a morning runup, I saw HYGS fading a bit—price and volume-wise, so I pulled up my Thinkorswim live chat to enter in my order (reserved shares in the morning, but just put a note on my account) and guess what I saw, I had shorted 2,000 TGC at $3.49 (thinking it’d never get up that high, I was too lazy to put a note on my account/have to get the chat window open again, the sequel to my original VRML mistake) and now that stock was at $3.75….friggin moron!?!?!?! Wasn’t a bad short in the overall scheme of its chart so I told TIMalert subscribers I’d hold onto it and see how it’d perform, even if it was an accidental trade. Also told em, I was watching HYGS for a possible fade since at $2.30ish, it was only up 5 cents on the day and sellers were looking more determined (forming a wall of sellers with fading buy volume)…
A few seconds later and HYGS has broken $2.30 so I put in the order to short 2,000 with a limit of $2.27…got $2.29, whewww….emailed TIMalert peeps (members-only website coming next week so you never miss anything) by saying “i think if it takes out 2.28-2.25ish, it can go under $2”…just as that was breaking down a bit, TGC pulled back too so I decided to play it safe, covering at $3.44, a 5 cent/share gain, but basically getting me out of a trade I never meant to be in.
A few minutes later, HYGS had indeed gone negative on the day and was quickly heading to $2, but I didn’t like how quick it was—remember, I like fades, not panics (well morning panics, but not mid-day ones as those usually don’t last)—and big block buyers appeared at $2.14, I took no chances, covering at $2.15…..good $250ish profit, but a few minutes later, more stop losses and selling had hit, taking it to under $2, just as I expected/alerted down to $1.90…another $500 profit left on the table…and my accidental TGC had crashed down to $3.20, another $500 for me in a perfect world…(ruors of front running my ass, the longer you hold these short sells the better and both these stocks traded 5-10 million shares/day…so me and all my peeps are but little blips)
Wanted to trade more/short them overnight, but I was out of trades for the day—thanks absurd SEC rules!
Good news is yesterday was just the first down day in the pattern, as I wrote in this morning’s post, I expected much more downside on both and that’s why I reserved shares early, as did TIMalert subscribers (remember, they get first dibs, others usually are late so they get none!)
Both stocks looked flat at the open, but TGC started making a bit of a downward move so I adjusted my limit (today I put it waaaaay high at $4) to short 2,000 shares at $2.80, but some massive market sell orders just took this thing down too quick for me to execute…I didn’t chase, just thought of it as an opportunity wasted…but then those few market sell orders just kept chomping away at the price, down 10%, 15%, 25% on the day—I knew this was just panic selling, so I canceled my short order and put in a buy order 2,000 shares, limit $2.25—actually got a great execution in the $2.14ish area—down 30%ish on the day, pleaseeeee, this was an easy bouncer, especially since all the selling was due to stop losses (which coulda woulda shoulda been fun as hell to ride down on the short side)…within a few minutes, it’d stabilized/bounced and I put in an order to sell limit $2.35…got another good execution, $2.39, 25 cents/share profit, $470. HYGS had also tanked down to the $1.70ish area, proving it’s good to short overnight on the first down day of these plays, especially when support is light.
So one accidental trade, one decent trade and one rather nice trade—again, my horrific trade where I was too early was perfect for TIMalert peeps, the decent and ideal trades were too quick for many…not that you really have to be as quick as me on any of these, since they’re perfect Supernovas, HYGS, dropped all the way to $1.70 today and TGC down to $2!! 1 day holds on my short executions would be $1.50ish/share on TGC (or $3,000 profit) and 50 cents/share on HYGS (or $1,000 profit)…instead of the $800 profit I managed out of all this mess….hmmmmmm
Good thing TIMalert subscribers/you readers made up for my shortcomings, as usual—really banking nicely now, $7,000+ on these plays alone (and that’s just from those who comment!):
Oracle of NYC made $1200 shorting TGC at $2.90, covering at $2.30ish
Reaper pulled in a similarly mis-timed profit of $800!
BJPN correctly shorted HYGS at $2.20, but thanks to Osama bin SEC…still made $180, had to hold his short overnight, his profits wiped away….pathetic (leave a comment on the Osama post to show how ridiculous it is)
Brent made $214 shorting COIN, another one of my short picks I had no time/trades for
LM made a cool $1,000 shorting TGC
Paul emailed me and posted:
Just on time to short TGC. Shorted just over the top after the sell spike @ 3.64 (11:30AM) 1500 shares. Scaled out in 500 shares blocks. Profit 357!!
Getshorty made $180 shorting TGC
Thems actually bought TGC after my first TIMalert on it waaaay back at $1.70, making a cool $2k and thanking me for making his dreams come true…your welcome!
Dude couldn’t find shares to short—not a big surprise, this is the reason TIMalerts is so valuable, subscribers get notified early early in the morn to reserve shares while they can
Rick emailed me saying he shorted TGC at $3.46 and is up $300 on QTWW!
Fantom made just under $500 shorting a whole bunch of plays
Awesome guys, this makes me soooo proud, keep up the good work, keep doing better than me cuz it helps me prove my now 70% return over the past few months is WORST CASE SCENARIO!
Posted in Bad Trades, Breakdowns, Good Trades, Impatience, Missed Opportunities, Patterns To Short, Short Selling