2/5/07 Bought 80 CSCO @ 27.43 2/6/07 sold 80 CSCO @ 27.75 profit 11.60 review: I bought before earnings, which i later decided was a bad idea. Sold the next day and made a small profit. -- 2/7/07 ( unintended day trade) Bought 50 GROW @ 52.40 sold 50 GROW @ 46.05 stops: 46.00 (why'd I get stopped out .05 above my order?!) profit: - 331.50 review: Once again I proove to myself and the rest of ET that I'm able to lose larger amounts of money in a faster peiod of time than it takes to make the same about of money. This makes no f---ing sense to me. No bad news about this stock... made knew highs two days ago, its above its 13 MA, MFI is rising, ROC is rising as well as volume, and ALL OF A SUDDEN it falls 6.35 points.
I'll agree to that once I start making consistant profits. cm69 -- Round numbers are usually support areas. After I lost 6 points, I just thought I'd cut losses and hope that things turn around. Not my luck.
Fast price changes such as this are one reason that I do not trade short term. Bigcharts.com shows the price of GROW rallied about 20 % on three sessions. Perhaps someone decided to sell a large long position.
Hope will be the end of you. I don't know what your brokerage fees are but why when a stock goes against you don't you get out? If it reverses you can get back in. If you get whip sawed you're not any worse off than you are now. If you don't get back in, all you lose is opportunity, not cash.
I dont know why I didn't think of this before, but I'm going to start trading some high volume penny stocks. The stocks I'm trading now, are taking a large %'age of my capital, even for small positions. for example, I can buy 450 shares fo KRY at 3.20 which would be about 10% of my account value. http://stockcharts.com/h-sc/ui?s=KRY&p=D&yr=0&mn=4&dy=0&id=p40067086478 On the other hand, the 80 shares of CAT I bought at 62.05 is 33% I'll be able to make at least the same amount if not more because of larger position sizes. I do realize that these stocks are more volatile. cm69
Definitely post how you do. I lost more with the penny stocks over the higher priced. Definitely stay up on any new news coming out. Some of my old picks were: NVAX, AOOR, SVA. Check out RIMM. it's a $100+ stock that has been good for me. Usually $3 - $4 range per day.
Looks like SVA broke out last week http://stockcharts.com/h-sc/ui?s=SVA&p=D&yr=0&mn=4&dy=0&id=p40067086478 I got my butt kicked trading RIMM. Now the price is a bit too high for me. Just hope I'm on the right side of that 3-4 range . I'd look more at the popular penny stocks like SIRI, and Ford. cm69