I agree with you, and am enjoying your journal. INAP is a play I have been in for the past week. A bounce off the 50% retracement of the move up from the end of October. It took off today. Hopefully it will hold those gains and make new highs next week. Keep up the good work - I will keep reading.
Once again two good plays, ASTT and TIDE. I'm leaning towards TIDE so here we go... BUY 1788 shares of TIDE, Tidelands Oil & Gas at LIMIT of 1.38 DAY My profit target is 1.41, keep in mind that I'm not around during most of the morning and so I end up putting in my sell order around lunch time (not always though, sometimes earlier). This sometimes causes me to miss my profit target if the pick touched it and then dropped back and sometimes I end up catching a bigger move and taking 5-8%, just a note.
Thanks maggandre, Yea, a buddy of mine has INAP from 1.25, he's exiting monday on open I believe just to take profits.
I've had 10,000 INAP since .49. It is way out of my trading category, but I have friends who are with the company. It is just now getting wider recognition, and should soon be profitable and trading higher.
Enjoying your journal. I would have picked ASTT, as it seems (to me) to be making a more clear bottom over the last three days, and a "hammer" on Friday. Regarding INAP - I am in from around 1.50, and think it has more room to run. It is lagging behind some of the other big movers in the group.
Yes, I picked TIDE over ASTT because being about 1/3 the share price and about equal in volatility, I felt it would be easier to grab my 2% in the range. As far as INAP, good luck with that, my buddy got out at open but said that he still likes it as far as medium-term hold.
Very cool day today! When I finally got to check the markets at around 11, I found TIDE up almost 20% (ASTT also haulin' ass) but sadly I got left behind, it gapped up 2 cents and it's low was 1 cent above my entry =( I decided it was still a good opportunity to take a few cents at it's levels so I went long from 1.65 and got out at 1.67 for a 2 cent profit, 1.212%. Oh well, sometimes you catch 'em and sometimes you don't I'll post tuesday's picks tonight, happy trading 12/01/03 3:45 PM No Position Equity: $2,498.16 +3.396% since 11/25 2 Winners 0 Losers
I do hope you realize that, if you expect to average a 2% increase in your account balance each day, you are looking to make some serious returns. Assuming that you increase you bet size in accordance with your account equity growth and that you trade only 200 days a year, you are looking to make over 5,000% in one year on your initial equity. As I understand it, the formula used to arrive at the percentage return is: [(1.02^200) - 1] x 100. The actual expected return would be 5,148.49%. Should you disagree, you may wish to confirm it manually. In any event, I do wish you the best of luck.
Yes, I am well aware of the effects of compounding 2% a day In the past I have found that I rarely reach this target in the long run, for example, while trading this strategy for 3 months over the summer, I averaged something like 1.2% a day, still very good though, enough for me
My pick for 12/2 is EMKR, a little on the expensive side (so might be harder to pick off my 2%) but we'll give it a try. I'm entering limit at 5.02 and exiting at 5.13. BUY 497 shares of EMKR, EMCORE Corporation at LIMIT of 5.02 DAY