Momentum stocks journal

Discussion in 'Journals' started by Htrader, Jan 12, 2004.

  1. Htrader

    Htrader Guest

    I'm starting a new journal that will follow my trades in various momentum stocks as I try to take advantage of the current nasdaq strength and the resulting mania.

    Some examples in the past couple of weeks have been SIRI and NT. Stocks that have gone up on multiple days with tremendous volume.

    I started a new IB account just for this purpose.

    My reasons for buying stocks will be very simple. They have to be going up, and have huge volume. No bulletin board stocks.
  2. Htrader

    Htrader Guest

    Bought 10,000 CMGI @ 2.41
  3. Why?
  4. Htrader

    Htrader Guest

    Because this was a former high flyer and it seems to have broken out today on 4x average volume. Again, I'm just testing things out here.
  5. Are these day trades, swing trades, position trades or what?
    How about some rules for entry, exit, ect... :p

    10,000 shares with IB cost what? $52.50? Would of been
    cheaper with another broker?

    Good luck anyway! :cool:
  6. Arnie


    Ah, CMGI. I remember it well. Another old favorite is ICGE. I bought this last week (normally do not play pennies) due to EMRG and VERT. ICGE owns about 17% of each. EMRG is a mad cow play. VERT is in supply management (think productivity). Charts are interesting.
  7. gms


    Are you referencing to back in '99-2000?
  8. Htrader

    Htrader Guest

    Assuming everything works out, these should be swing trades lasting anywhere from an overnight to a few days. Unlike other journals, I not profess to have intricate entry/exit rules since this is a test run of sorts. Of course, I do have enough trading experience to know when a position is no longer viable. As for my broker, sure I could have used a cheaper place that has per ticket charges but it should this strategy work, a couple bucks here and there won't matter.
  9. Htrader

    Htrader Guest

    Stopped out at 2.49.

    Sold 10,000 CMGI @ 2.49
  10. Htrader

    Htrader Guest

    This trade was kinda of a bust as cmgi had closed at 2.65 last night, only to gap down.

    Also, please feel free to mention any fast moving, high volume momentum stocks that might be worth trading. Just no bulletin board stocks.
    #10     Jan 13, 2004