Don's Openings, Part 5

Well the oo win streak ended today at 7. Whacked in BAC and MRK, the others were all wins, but not big enough to compensate. They sure traded like there was some news, I must have missed something. That's my first ever loss in BAC. Got filled at a profit in both of them with a slingshot order, but only 300 out of 1300 shares, then they took off.

3 longs and 2 shorts today. 3 for 5, -.24 before commish.
 
I took about a -.30 loss in BAC as well. BA and JNJ were my other big losers.

Got 10 fills, five wins five losses- lost about $50 with commissions.

It seems that unless you take a quick .15-.20 profit, it's hard to stay ahead of the game. If you wait for more that .20 you usually end up haveing it come back toward the open as quick as it went up.....bye bye profit.
 
My after commission net for Sept Open only orders was a plus $254. The Good news, i made money. Bad news its my worst month and if the trend continues i may have a big losing month soon. I have to find a way to avoid the big quick losers. From my perspective more stocks are going straight down with no chance to get out with a profit. I guess its discipline with good tape reading skills. Any advice would be welcomed.

For today JNJ had a big loss, but i still managed a .27 profit today on 6 fills.

I really appreciate Don and all contributors to this thread. I have reduced my shares to 300.

Good luck
 
I don't know how much that wacky sell program yesterday is going affect things today, but it could. There were some wild gaps and because it happened so late in the day, many stocks were still moving up, but hadn't closed the gaps by the close. There were also some gaps on the closing prints. I don't usually have time to go over the indications on all my stocks before the open, so I'm just cutting back the size today. Just paring back the risk infront of an unknown factor.

Good trading today,
Corey
 
I told the bootcampers to "tighten up" a bit on the envelope (.8). I was able to get 5 for 5 for a good day at: + $1820 (90 cents). Slingshot in FRE and IBM, all done and out by 9:37AM....

Caution of the numbers coming out at 10AM....try to be flat by then....

Don
 
IBM had negative news. I got filled on a short and then it went .25 against me, so I got out. I guess you know the stock better, I don't trust a stock with bad news that opens up and goes higher. It just doesn't make sense.

My other loser was LOW I was up bout a dime and then he dropped his bid to his opening price. I offered .05 below the bid and he printed through it. I then offered .05 below the bid again and he printed through that too. Ended up losing .25. Last week I stopped using stops in favor of offering below the bid, I'm not sure that the change was worth it.

Had five loser, and ten winners today.

4 long

11 short

Lost money on three shorts?!?!
 
Dave....I take it that you were profitable overall today....and we had a good result for all the bootcampers, only 1 (of 10) had a losing morning. I had them "tighten up" as I mentioned above, and they did well.

You're right, IBM could have been tough, I waited because he spread the bid/ask to wide to cover anyway (I never pay up a dime or more on my group of stocks). Of course, I could have made more, but was happy with the way it turned out.

Don
 
Blah morning... could have been worse.

FRE save me today. Everything else was RED.

FRE long +.30

BSX long -.15

BP short -.03

KSS long -.20

If anyone is in doubt that crooks roam Wall Street, look at KSS. Gapped down and went down from there, even though the market soon ripped up. At 10:19 Salomon Smith Barney comes out with bad news on Kohl's sales forcast.

Now tell me that news wasn't leaked to "them".
 
I see what you are saying...hmmm very interesting looks like it tanked right to 11:00 and then flattened out, they didn't release that news report until <after> 10:00 am?

mrktwiz
 
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