GPCB - Holy crap this one got annihilated! It bled and it bled good, closing the day down -30.25%! You have to sacrifice your beauty sleep and reserve these kind of plays very early. I'll sacrifice sleep for a few hundred dollars anytime. I hope someone out there got a pile of cash out of this play!
ENOC - This one actually finished green for the day at 4.09%. Nice short scalp after the morning spike early in the trading day, but that's it. The chart's too unpredictable for me now. I like boring charts.
NGA - This stock was a good short scalp during the beginning of the trading day. BUT now the chart looks very unpredictable, finishing the day green at 17.46%. Too unpredictable and risky now - I especially don't try to short stocks that show strength and finish green on the day while the Market is down big because they have burned me before.
CCRT - Another stock that got drilled, closing very, very red at -30.63%! Those insane, irrational spikes at the end of the trading day happened at the close of Tuesday AND Wednesday! To me, these are "gimmes" even though earnings were just yesterday. I love these plays because nothing justifies the end of the day price action and they rarely hold up! If you were able to find shares during early premarket, I bet you made some cash. Wow!!!
RZ - If you were lucky to find shares, this one closed red at -11.24%! Check out RZ's chart today - I only take a short position during the first or last hour of the trading day in order to protect my small account from intraday variables.
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2 comments:
'I like boring charts'. That's a beautiful statement! As I mentioned in my blog too, I like slow and steady, not fast and furious! :)
From this post, key take away for me was that you short only during 1st or last hour of the market. If I look at some of the charts, it makes so much more sense to short them in the first hour. Generally, the stock will run a bit in morning so you short in to high and then ride it all the way down. Beautiful. Thanks for more clarification!
So where's the watch list for tomorrow?
RJ
Ramtajogi....Sorry dude i didn't get my stock research in last night, so I didn't have any plays ready today. That sucks especially for a Wall Street junkie like me. I hope your trades were profitable!
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