GrowleyMonster's Sorta Journal

Funny, but I have usually done well on overnights. My BYND kill was an overnight position. I even made money overnight on TQQQ. I think maybe the phobia of overnight holds is a little overblown. After all, swing traders hold stocks for days or weeks.

I just remembered I have two TDA accounts at $50 each. I just combined them and I may start out trading again with a tiny account, or maybe draw it all out. Thinking about just sticking my next union pension check in there. I didn't do too bad before I went "big time", when I was only trading $10k and penny/nickel stocks. I made beginner losses but eventually recouped them before sticking another $40k into the account and losing nearly half of it. Maybe I will have another go at it, see if I can trade up from a very small account, a la Ross Cameron. Or maybe I will wait until after the new year, and make this an annual thing. If one of the offshore brokers starts offering zero commissions, I might go that route. Anyway so for now I have $100 of forgotten money to trade, and the brokerage now has zero commission stock trades. I spent twice that much just taking the GF out to dinner last week. Meh. Nothing to lose sleep over if I blow up a $100 account LOL! Even with next month's union pension check in there, it isn't anything to make me jump out of a window over a la 1929. Most people drop more $ than that in a single casino visit.
 
GrowleyMonster said:
Look at $TROV
More...
Hmmm.
Its kind of a roll of the dice at this point I think, unless you have a strong handle on what's all entailed with that cancer drug and what the potential market for it is.

As a rule of thumb, its better to avoid stocks like this that roar to life out of nowhere and land on retail traders' radar screens after the initial big move. They inevitably fall back down as those who got in early cash out with a big percentage gain. Again, unless you understand what's behind this drug.

There's also a temptation, because its so inexpensive, to buy a bunch of shares on the hopes of getting rich quick. It never happens. A 20% down-moves in a $2 stock, is still 20% of your money. That's obvious though.

I'd stay away from it if I were you. Just ride out MDR.... that's more than enough penny stock exposure for one account.
 
Oh, I shut the day trading down a couple days ago. Still have a very small TDA account and I might do some penny and nickel stocks with it in a few weeks after I paper trade on TOS a bit. And not messing with swing trading MDR until it makes a big move independant of the market. As long as it is mostly going up and down with the market, it is just a day trade prospect for me right now. I would have liked to have still had 4000 shares a couple of days ago when it was up to what... $2.60? Then it dropped a buck or thereabouts. Wasn't really on my radar.
 
AMZN looks good at $1622
Good support down there.
Got there pretty fast though.

EDIT: Nice bounce off of $1622. $1657 now.
 
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Anything around $1700 on AMZN will be a good short today.
Its gonna see that $1620 level again... may take a few days, or it might happen today.
Its not going much higher thats for sure.
 
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