Awwwwww I didn't see that tip, Van. Darn. Got to check this thing more often. I do appreciate the tip, though and I am fixing to see what Amazin AMZN did today.
Anyway ended up with a devastating loss today. I now regard myself as a temporarily failed day trader in recovery LOL! Seriously, if I had just screened for all stocks with relative volume between .5 and 1.5, year performance at 10% or better, month performance at 10% or better, week performance of 10% or better, change since open of 1% or better, thrown out anything that just didn't look right, added up the month, year, and week performance and took the top 10 overall performers, I would have made 2.68%. As we all know, you do something like that every day for a year, you get 1.00268^240 x initial account balance at the end of the year, or a bit over 869x the initial investment. LOL!
Seriously, I am out of day trading for a few days or possibly weeks, maybe even months while I thrash out some things. I still have plenty of money for trading, but the losses are adding up and I need to put a screeching halt to it for a while. I think I will pick 10 stocks to go long with, tomorrow, and just change out better performers for lesser, at the end of each trading day. Maybe ration the money between them based on performance. Ah, MAT, you gave me 3.2% today so you get 32 shares of the total in the kitty. Okay, MESO, you earned me 2.0% so you get 20 shares. CENX, you loser, you only earned me .5% so you would only get five shares of the dough tomorrow, but since you are the lowest you are outta here anyway. Add up the total shares to divvy and portion out the bread, the most $ to the most deserving stock. I will thus be eliminating most of the human element and hopefully beating the general market. No margin there, either I will save all my margin for breaking news situations, and then next day re-evaluate and eliminate the weakest link to return to all cash trades. And no more than two stocks in the same industry without a darn good reason. I can do this scan-and-calc in just a few minutes each day and do other stuff I have been neglecting.
Meanwhile I need to hash out a strategy for keeping the ball rolling through a major downturn. I will be doing some multiday shorts in my paper account, and maybe work out an algo for trading inverse twin ETFs like TQQQ/SQQQ, GUSH/DRIP, NUGT/DUST, etc. Everybody knows it is coming, definitely in the next year if not this one. It is the 600lb gorilla in the room, waiting patiently to commit the sort of mayhem of which gorillas are known to be capable. The twitternomics of several days ago were a pretty potent wakeup call to me. I totally wasn't ready for a sudden across the board bear stampede. I need to take steps to make my account gorilla proof, or at least somewhat gorilla resistant.
Okay, I whittled the list down to just 7 stocks.
MESO
VIPS
CYH
INSG
ARDX
BRKS
And still thinking about
ATEN
BLDP
CREE
INOW
MAT , just cause Christmas is right around the corner.
