Tough day for me, mainly just because of trying to hard to make stuff work. $FCX was completely a boredom trade then I held way too long when it was grinding up. Covered for a small loss, and it spiked after hours so at least I didn’t get stubborn and hold overnight. $QUOT I entered before my plan should have waited for $9 and could have had a nice late day fade. Instead I entered early time and price wise, got squeezed a little and then it pulled into the close. PERFECT example of a decent trade, but poor timing.
Plan for today is to be extra patient and disciplined on entry. Had I not been rushing to trade after the long weekend, I could have had a good day yesterday instead of mediocre loser.
Today’s List: Full list from Yahoo Finance
Groupon, Inc. (GRPN) -NasdaqGS
Glad I recognized this was strong and avoided, though I still shorted $QUOT which basically moves with this. So still got squeezed on the “daily deals” sector. No rush on this, will wait for it to get crazy $4.50+
Quotient Technology Inc. (QUOT) -NYSE
This one definitely “tricked me”. I had an ok entry late day. Though when it was pushing and $GRPN was breaking out I covered. Considering the circumstances that was a good cover, though after I exited and left for a meeting it cracked right into the close. Annoying, the exact move I was looking for. This will be a prime watch today.
Target: PLEASE give me $9.50-$10 or will look to fade if $GRPN gets weak.
Electromed, Inc. (ELMD) -NYSE MKT
TransEnterix, Inc. (TRXC) -NYSE MKT
Freeport-McMoRan Inc. (FCX) -NYSE
Target: Para move up, or $7.00
CytRx Corporation (CYTR) -NasdaqCM