Monkman's PV Journal
- Thread starter Monkman
- Start date
Today had some unexpected hiccups, but its good that it happen early. I put a stop in NFLX pre market, my trading software was set to not exercise stops pre or post market. When the market opened it misfired somehow and initiated a market order to sell. NFLX sold at 44.02, pretty frustrating, got upset at first and then focused back on the market. ALGT was a FBO. It did not have price improvement. It also hit my stop that I raised after it was up around 2% at one point. Sold at 47.54. I opened up a new position today, NSH 200@21.56. Increasing volume, price, MACD pos, Stoh over 80. It also had a nice b/o out of a descending channel upward into the longer term channel. (see picture). NSH was moving very slow after I entered the position. Went against me for awhile, until the afternoon when the volume started to pick up. The ES was going down for awhile, and this one held strong which was a good sign. Into the close this stock was hitting new highs. I noticed this stock is not very liquid and the spread widens quite a bit. This is something I saw with ALGT as well.
Today was absolutely nuts. Wellsfargo announced some good news before the open which really started to move the market. A number of stocks gapped up and went into FRV today. Some of them had price follow through, and others just failed to continue intraday and pulled back. I was trading pretty cautiously today. Entered one stock that b/o BWLD, and closed the NSH position.
NSH Day 2
sold at 22.50
On day two this stock gapped up, had an opening print of 23 and then started falling back down like a knife. It had gone up over 6.5% from my price so I decided it would be a good exit since it hit close to the top of the channel and was pulling back. Exited with around a 4% profit.
BWLD Day 1
Entered 135@37.43
Price was increasing in the morning and the volume was heavy. I liked this one because it did not have a huge gap up like several of the other bo stocks. It also had a nice upward price movement from a pennant formation.
At 11:00cst the stock started to retrace. It pull back to half of the initial move upward, and then resumed its upward movement an hour later. I had gotten in at what I felt to be a good price. Originally I was planning on paying in the 37.70 range for it but while trying to add liquidity I got blew past. Even though you save in fees adding liquidity I think taking is probably the best solution considering I could have missed this move. Yes it ended up dropping down, and I got it at a much better price, but I'd rather pay up more than miss the move. The benefit of getting in at a lower price gave me more room for my stop which was a plus. This stock exceed the 2% price target, and now I am waiting for it to hit the 5% (then I start to move mental stop up), and then hopefully the top target 10%. Depending on price movement, volume strength, hows the channels look, etc, I will make a sell or hold decision.
NSH Day 2
sold at 22.50
On day two this stock gapped up, had an opening print of 23 and then started falling back down like a knife. It had gone up over 6.5% from my price so I decided it would be a good exit since it hit close to the top of the channel and was pulling back. Exited with around a 4% profit.
BWLD Day 1
Entered 135@37.43
Price was increasing in the morning and the volume was heavy. I liked this one because it did not have a huge gap up like several of the other bo stocks. It also had a nice upward price movement from a pennant formation.
At 11:00cst the stock started to retrace. It pull back to half of the initial move upward, and then resumed its upward movement an hour later. I had gotten in at what I felt to be a good price. Originally I was planning on paying in the 37.70 range for it but while trying to add liquidity I got blew past. Even though you save in fees adding liquidity I think taking is probably the best solution considering I could have missed this move. Yes it ended up dropping down, and I got it at a much better price, but I'd rather pay up more than miss the move. The benefit of getting in at a lower price gave me more room for my stop which was a plus. This stock exceed the 2% price target, and now I am waiting for it to hit the 5% (then I start to move mental stop up), and then hopefully the top target 10%. Depending on price movement, volume strength, hows the channels look, etc, I will make a sell or hold decision.