Weinstein Trading and Fading

Discussion in 'Journals' started by Robert Weinstein, May 5, 2008.

  1. Closed out my swing trade with IBKR which gave me the largest part of the gain today. + 607

    If IBKR gets pounded again without anything changing with the company I would be more than willing to buy again.

    Had one trade today. MFE + 73
    could have held over to monday but due to the carryover with CNC I am more willing to take a small profit and close out at the close.

    one scalp
    GFIG +67

    Traded CNC and ended up more short at the close than at the open and my average cost has gone way up. I haven't changed in that it appears to me that it will retrace back to around 21ish.

    + 330 for the day
    - 4378 for the week
    + 330 for the month
     
    #221     Aug 1, 2008
  2. Still shorting CNC. tried to buy back what was shorted today towards the close but missed by a couple of pennies. CNC moved in my favor at the close. Still maintaining the 21 price target. Volume continues to dry up.

    SYNA gave a strong short signal and I did well with it. +312
    S:6b



    + 312 for the day / week
    + 642 for the month
     
    #222     Aug 4, 2008
  3. NoDoji

    NoDoji

    Bob,

    I've attached a sample of the streaming news regarding CNC.

    Donna
     
    #223     Aug 4, 2008
  4. Still holding CNC short.

    holding SYNA overnight. about even and no rush to close.

    holding EWBC overnight, missed exit by a couple of cents. will try to move out during the open.

    + 741 for the day
    + 1053 for the week
    + 1383 for the month
     
    #224     Aug 5, 2008
  5. NoDoji

    NoDoji

    One for the watch list: I was about to close up for the day and saw an insider sale for OLN come across the wire. They're trading at a 52-week high and their streaming news shows massive insider selling - see attachment.
     
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    #225     Aug 5, 2008
  6. did you see the VP Pain?? what a name
     
    #226     Aug 6, 2008
  7. All in all a good day. numbers paint a different picture but that is in part due to IB FIFO accounting. Still very short CNC but did trade it back and forth raising my cost basis and taking intraday profits from the trading. One strong day move down and I will be taking gains.

    My carry over SYNA worked out nicely. Just missed shorting more at the open by a few pennies. + 560

    I did have some trades today
    PWR + 103
    S:7b

    MRX + 33
    S:6b

    HSY +150
    S:6b on close

    - 3335 for the day
    - 2282 for the week
    - 1950 for the month
     
    #227     Aug 6, 2008
  8. Not much for trades today. The whip sawing by the market can make pickings slim as it did today.

    TDC for an extended scalp + 131

    PWR + 59
    extended scalp

    INTC + 10
    scalp

    CNC continued to move in my direction and I began closing out in a bigger way the position. The shares I am still short are near break even. I was able to trade a few shares more to the short side to raise my cost basis but did not want to push into a large short again if it continued to move up. - 1935

    - 1734 for the day
    - 4016 for the week
    - 3684 for the month
     
    #228     Aug 7, 2008
  9. CNC still fighting the battle. Did actually buy some back at the open for a profit. CNC moved back up and I shorted some and at around 22.40ish I tried to push the price down with a lot of selling (this is a very low volume stock) but that appears to have been the low and quickly moved up when a buyer(s) came in. Glad to see in the end that today was a lower high and a much lower low. - 55

    MDRX turned into a loser. Gave me a scalping signal and was agreesive and it continued to move up. Finally moved up enough to give a short signal. Made much of the loss from scalping up but wanted to get out so I didnt have to carry over the weekend so I took the loss.

    PWR gave a short signal two days ago and yesterday and again today the high was a new higher high. traded it back and forth for gain and held some over the weekend as I expect Monday to be a down day. + 621

    PLCM is another good one that I did trade today but decided to hold over the weekend + 37

    Not much done with LTM + 15


    needless to say that Monday will be an important day.

    + 347 for the day
    - 3669 for the week
    - 3337 for the month
     
    #229     Aug 8, 2008
  10. I will be watching MCD to see if it can make it above 68ish in the next couple of days.

    appears to be getting ahead of itself but I will need to see a final push up before shorting.
     
    #230     Aug 11, 2008