Frustrating day yesterday missing out on $NVGN and being to early on $SRNE. Then I spent a ton of time trading and watching two REAL stocks, $ODP, and $CRUS. Ended up down on the day but a manageable loss. But its not the loss that has me so aggravated, I stuck to my stops and followed my plan, trading is about losing. What has me frustrated was not getting fully prepared, you can see that in my watchlist yesterday I half assed it. Then spending the day screwing around trading real stocks for piddly profits, all the while ignoring $NVGN. It was for sure a “jonesing for trades” type of day, if I was unsure about how to attack $NVGN so be it, but no good reason to then spend time trading shitty setups.
So today I’m back on track with a real watchlist and will stick to it.
As I mentioned I shorted this mid morning when it looked like it was going to fade all day. I was too paitient and probably could have covered for a couple hundred bucks but was hoping it could crack. Ended up spiking and I covered at my planned stop. So while it set me back on the day, I followed my plan and covered waaay before it spiked over $8. Will look to short into any sort of parabolic move or if it doesnt spike hard will look to late day fade.
I like the prospects of this cracking $2 and falling hard, bummer is I don’t like the entry in the low $2’s where it is sitting right now. Crossing my fingers for a spike to get short into. Will be watching this closely today, probably my main watch.
Hate these cheapies, but I do like the chart. Doubt I will trade this, but will watch for fading.
Grrr, I know I bitch about trading a real company (Office Depot) above, and it pains me to think about spending all day watching it again. But this did show up on “old reliable” the red candle floater scan. So I will watch and will probably end up trading it and pissing myself off again..