Actually I am not holding any oil right now. I will watch it close in the premarket monday, though. I am thinking GUSH will go up a good bit but like you guys say, you just never know.
Hmmm. Well, I won't argue; if someone had created an inverse index around my directional bets, they'd be billionaires by now. But - assuming we're not too late to the table - maybe we should take some small positions on our respective viewpoints, just for fun? You hit the CL tomorrow, I'll short some XOP, and we can either commiserate or send each other a nice Xmas card from the proceeds.
All I am saying is, CL is going to gap up tomorrow night. Equities? 10% correction incoming, because I an long in it. Yes, my 4 MNQ long contracts drive the world economy. I have that power. Feels great.
Off to a good start today. Holding MESO, PLUG, INSG, BLDP, MAT, IPI, ATEN, CYH, and CREE. Up $584 so far. Bought GUSH and SDRL this morning, cause of FOMO, but they didn't show me any love so I tossed them back. Everything is in the green at the moment except ATEN, but it is in a pretty solid looking trend and is at zero, not in the red. Down to +$492 thanks to stoopid CREE. But actually my bad... my position was twice as big as it should have been. It still looks like a multiday gainer so I let half of it stop out but kept half. Rearranged my big monitor. Showing nothing but charts with the chart trader widget on each, ten of them. I won't be holding more than ten separate stocks. I have other charts on the small monitor I can use for planning trades. The big one will just have stocks I have a position in, or will very likely take a position.
At 1510 TVIX makes like Mao and takes a Great Leap Forward. At 1520 everything in my portfolio drops like a Mississippi prom dress. That's okay. Still solidly in the green with a half percent gain. Tomorrow hopefully the market will stabilize and the indexes will be back up and I will get back more than I gave up this afternoon. TVIX is already diving like a deb on ex. running out of steam. Live to trade another day. Oops I am down to .3% gain. I am gonna stop worrying about dollars except when figuring my position size budget. Percentages is what it's all about. And .3% is nothing to trash. Hey in 240 trading days, that is doubling the account. So as I end the day I am left holding MESO, BLDP, INSG, NTRA, PLUG, GOGO, CREE, REDF, and FTK. I am liking the new screen arrangement. I have every position out and proud, showing on its own chart. This weekend I am getting a bigger screen and I will probably go with a dozen charts visible. One for QQQ, one for TVIX, and ten for open positions. Ah. P&L is back up to .48%. Very nice. But earlier in the day it was at 1.8%. Nicer. That's it for me today, no postmarket trade. Got some welding to do, got to pick okra, and I got to make a door for the boat. No cooking today, when GF gets home she can order Papa Johns, I'm busy. Sucks being retired. I never have any free time anymore.
Okay. Watching it. Looks like it never climbed past $130. Went short 200. Stopped out at $127.60, just above break even. Waiting for consolidation, maybe it will drop some more. Ah there it goes. Headed for the grass. 200sh again.
200 more. Darn. Stopped out for a loss. Coulda been a good one. I got in too late. I cleared the board. Nothing was paying off. Closing chart windows in TradingView and saw GOGO taking off. Made $132 on it, and $174 on TQQQ right before the bell. Went in again but the momentum is fading. Stopped out, still made $146 on it. LXRX shoulda been a winner. Took 800 shares long and took my exit with a nice profit, but it kept going and yeah I chased it. It was going hard and fast so I went back in for 1600 shares and I took my eye off it for a bit once it was solidly in the green, and it stopped out negative, with a net of -$6. Well, coulda been worse but coulda been better, too. Those little guys can be tricky. A decent size position, dollar wise, gives you an awful lot of action. If a $3 stock goes up (or down) half a buck, that's 17%. WOOHOO! Or sometimes BOOHOO. I got 10 charts on my big monitor, so I usually have a couple to spare for watching the Q's and TVIX. I seldom trade TVIX but it is a good barometer and so I like to watch it. Same with the Q's but sometimes I will trade TQQQ or SQQQ. Usually the spread is small and you can get in or out really fast, even after/before hours. There. TQQQ is flatlining. I thought at first it might reverse but nah, its just out of steam. Well not completely flat... it has gone up a dime in a half hour since the bell. If it keeps going I might hold a hundred overnight. One thing that troubled me and kept me out of several overnight positions is the issue with stop loss orders outside market hours. IB/TWS will not execute stop orders until the morning bell. But a STOP LIMIT order will transmit, trigger, and execute. I just tried it. Near as I can tell, nothing happens until the stop price is reached and THEN it becomes a limit order. Too bad you can't use a Trail Stop order after hours. It would suck to see that your stock went up a buck overnight and then back down to break even or worse. What I really wish is that you could set both a Stop or Stop Limit order, and also a Trailing Stop, One Cancels the Other. I made the mistake once of assuming that they were, and set a trailing stop to follow the stock up, but a regular Stop order to lock the trade into profitability. I walked away and came back and found that my 200 shares of I don't remember but I think TEVA, had gone up and carried the trailing stop with it, and then down and hit the trailing stop, right before hitting the regular stop and selling me short 200 shares. Turned out to be a good thing. Whew. Ended up with a profit on the short trade that more than made up for the small loss on the stopout of the long trade. I need to try to duplicate that play and figure exactly how and what happened and how I can make it work for me. Okay I set the Stop price at the Bid, and the Limit two cents below it. Come on, TQQQ, I dare ya. Cross this line, see what happens. Before, for some reason I was not able to adjust those prices once the order was transmitted, but now I seem to be free to do so. Very strange. Okay, it seems to work just fine. I think I will see what happens when I set the Limit higher than the Stop. Tomorrow. That's it for me, I'm done, no overnight positions. I gotta go cut banana leaves for tamales. Or just drink beer. One or the other.
Stop orders are converted to market orders when the stop price is hit, and since market orders aren't allowed outside RTH, its not IB/TWS fault. Re $FIVE... Don't fomo those things. Let them come to you. If it didn't hit 131.50 today which it didn't, don't take it. Tomorrow's a different day too, so don't play FIVE, that was a one day thing, at least at that level.
$845.50 right here might be good for 20 shares short on CMG there Growley. Plan on holding it overnight. Edit: I'd just hold for awhile. Maybe just do 10 shares because it can jump $20 on low volume... but in a month or so its gonna be much lower than it is right now. Edit 2: AZO is another good one here at $1159, but wait for it to pop after earnings, then take 20 shares of it short. The straddle is pricing a 5.6% potential move. They report before the bell tomorrow.