Awwwwww I didn't see that tip, Van. Darn. Got to check this thing more often. I do appreciate the tip, though and I am fixing to see what Amazin AMZN did today. Anyway ended up with a devastating loss today. I now regard myself as a temporarily failed day trader in recovery LOL! Seriously, if I had just screened for all stocks with relative volume between .5 and 1.5, year performance at 10% or better, month performance at 10% or better, week performance of 10% or better, change since open of 1% or better, thrown out anything that just didn't look right, added up the month, year, and week performance and took the top 10 overall performers, I would have made 2.68%. As we all know, you do something like that every day for a year, you get 1.00268^240 x initial account balance at the end of the year, or a bit over 869x the initial investment. LOL! Seriously, I am out of day trading for a few days or possibly weeks, maybe even months while I thrash out some things. I still have plenty of money for trading, but the losses are adding up and I need to put a screeching halt to it for a while. I think I will pick 10 stocks to go long with, tomorrow, and just change out better performers for lesser, at the end of each trading day. Maybe ration the money between them based on performance. Ah, MAT, you gave me 3.2% today so you get 32 shares of the total in the kitty. Okay, MESO, you earned me 2.0% so you get 20 shares. CENX, you loser, you only earned me .5% so you would only get five shares of the dough tomorrow, but since you are the lowest you are outta here anyway. Add up the total shares to divvy and portion out the bread, the most $ to the most deserving stock. I will thus be eliminating most of the human element and hopefully beating the general market. No margin there, either I will save all my margin for breaking news situations, and then next day re-evaluate and eliminate the weakest link to return to all cash trades. And no more than two stocks in the same industry without a darn good reason. I can do this scan-and-calc in just a few minutes each day and do other stuff I have been neglecting. Meanwhile I need to hash out a strategy for keeping the ball rolling through a major downturn. I will be doing some multiday shorts in my paper account, and maybe work out an algo for trading inverse twin ETFs like TQQQ/SQQQ, GUSH/DRIP, NUGT/DUST, etc. Everybody knows it is coming, definitely in the next year if not this one. It is the 600lb gorilla in the room, waiting patiently to commit the sort of mayhem of which gorillas are known to be capable. The twitternomics of several days ago were a pretty potent wakeup call to me. I totally wasn't ready for a sudden across the board bear stampede. I need to take steps to make my account gorilla proof, or at least somewhat gorilla resistant. Okay, I whittled the list down to just 7 stocks. MESO VIPS CYH INSG ARDX BRKS And still thinking about ATEN BLDP CREE INOW MAT , just cause Christmas is right around the corner.
Indeed. I was in long indices today, and was out of them before the afternoon sell-off. I did not expect that, and obviously, you did not either. As for it being a devastating loss for you? Nah. You've got the Motts to recover. I believe in you. Remember...
Thanks. I will be back day trading at some point, but I need some time away from the screen and time to think about some things and put together not so much strategy, as tactics. I got strategies. I am just not always doing them right. The hardest decision is whether to ride it out, or bail out, when a trade is taking an unexpected twist. Bail out and watch the stock head for the moon, and that is money you lost because it was in your grasp, and you needed it to pay for the losses and still have a profit. Don't bail, and watch the stock plummet gleefully, as evil institutional traders sell 10M share positions in 100k share lots every 10 seconds. The trading gnomes are watching! So, for now I will swing trade using performance based strat, maybe some crossed MVWAPs or RSI thrown in, or just long range Bollinger trend following, but mostly and initially, performance-based buy and replace. It is simple and must work as long as the market is bullish.
You're gonna wanna puke Monday morning when you see where these open. Know why I said this even though I didn't like you putting that many eggs in one basket? Because being long oil overnight when WTI is in the mid $50's has a pretty low probability of biting you in the ass in the current geopolitical climate. Probably a good idea to fill the tanks on the cars and boats tonight Growley.
The futures folks seem a bit less... flappable than the stock market, from what I've seen. They'll look at things like reserves and held-back production capacity while sipping their tea, make some slight eyebrow motions to indicate "well, what can you expect?" and get back to their backgammon strategy. The stock market is going to Lose It's Collective Shit. For at least 15 minutes or so. Makes for a fun movie plot, anyway.
I disagree. The CL folks are going to lose their shit and pump it a couple of bucks on the drone strike, for fear of "reduced supply". The equity markets though? (The stock market)? No way, they have a laser beam focus on the fed meeting on Wednesday. Unless a nuke is dropped, this drone strike on Saudi supplies will not effect equities that much, relative to what we have seen over the past 18 months..