NoDoji's Day Trading Log

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+ $235

APOL spiked on open and I tried to short with limit and it dropped $1/share that fast, then bounced again and I shorted market @ 88.19, covered @ 87.49 for a $350 gain.

Shorted APOL again @ 87.76, covered @ 87.56 for a $100 gain.

Shorted APOL yet again @ 87.95 and set a target at the convergence of the 8- and 20-period SMAs (87.55), filled for a $200 gain. I wish I’d patiently waited for the test of that support area because it broke down very hard and very fast and I left a ton of profits behind.

I know I said I wouldn’t do this again, but I shorted WYE @ 38.43 even though it was extremely oversold because it had dumped below the SMAs and looked like it would retest the LOD. It dropped right away and I thought it would at least test the 38.20 level, but when it seemed to find strength off 38.30, I covered @ 38.36 for a $32 gain.

Shorted WYE @ 38.52 as it pulled back from overbought. It appeared to reach oversold @ only 38.445 so I covered for a $43 gain.

IDCC running up all day on old news, but potential future profits. Shorted @ 30.25 and covered @ 30.15 oversold for a $100 gain.

Shorted WYE @ 38.81 near HOD, instead of patiently waiting for a test of the HOD. Someday I will learn not to waste valuable profits this way. Added to the short prior to the test of the new HOD. I am soooo ADHD! Holding overnight for morning volatility play, unless filled in after hours.

CECO dipped below 20.00, where it had established major recent support and I exited for a $470 loss, .06 cents from the LOD and was pleased to be out for such a small loss after the heat I took on this one. This was my worst trade in months and the only thing worthwhile about the entire trade was my patience in managing what I considered a strong exit today. Although I still believe there’s a good chance it would have eventually become profitable, I could not risk ESI’s earnings announcement driving these educational stocks higher after they hit such lows today. Mistakes on CECO: Putting on the trade and adding to it in large size just PRIOR to any test of major resistance, and allowing such a wide berth for it to play out when my account size is only $60K. Never have I been so pleased to take a loss. My final mistake on this trade was not going long @ 20.00, when I was 99.9% certain that the pivot off 19.94 signaled the LOD, which means “low of the day”. Duh!.

Initiated a swing short on HOTT @ 8.47.
 

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+ $1073

Saw that UBS downgraded WYE from Buy to Neutral, which doesn’t mean a whole lot, but I was pleased to have shorted it yesterday near a 4-month high, overbought on the daily chart, and right at the 200-day MA (which is rarely broken through on the first try). I decided to be more patient with this one today instead of taking the first bite that comes off the opening. However, first bite was the best as it dipped to 38.16, then bounced almost back to my entry price. Oh well, I eventually covered @ 38.65 for a $310 gain.

Shorted APOL @ 87.61 and covered a very short time later @ 86.68 for a $465 gain.

Shorted APOL @ 88.36, covered oversold @ 88.16 for a $100 gain.

Shorted WYE @ 38.93 overbought near HOD. Covered oversold @ 38.73 for a $100 gain.

Limit order for APOL not filled, so I shorted market @ 87.88, even though oversold. Could’ve been patient, but it looked weak and had been rising and dropping $1 chunks today so if it dropped again I didn’t want to miss the move and if it rose, I planned to add to the position. Added @ 88.65 for 88.26 average. It ran up all day (wasted trading on my part) and I covered end of day @ 88.16 for a $100 gain to avoid tying up margin and trading capital with an overnight. Needless to say, it dropped significantly more.

IDCC ran up close to the HOD and stalled. Shorted @ 30.39 with a stop @ 30.69, just above the HOD. It dropped to 30.29 and the level II looked very weak, but prints were going off at the ask, so I covered @ b/e and sure enough it took off. I’m getting to know this pattern pretty well now.

Tried to get filled on another IDCC short @ 30.47 and missed by a penny.

Shorted WYE @ 38.73 overbought near HOD, stop @ 39.03, just above the HOD, hit for a $139 loss. Forgot to short it again on the high, which produced the best short of the day for those who caught it.

Shorted BBBY @ 25.71 when it pulled back from a large run up and was overbought, Stopped out @ 25.97 (.06 cents from the HOD) for a $138 loss. I hate BBBY.

Wanted to short more HOTT, shres suddenly not available again, so shorted through husband's IB @ 8.74. Targeted 8.54 as the exact middle between HOD and LOD, filled for $400 gain. That turned out to be the EXACT bottom from the time I shorted, so not a penny left on the table with that one.

Shorted IDCC @ 30.81 near day’s end for an overnight hold, morning volatility play.
 

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Boosh, as I just recently told a friend, if you have a trader's ladder on which the 1st rung is beginner and the 10th rung is professional, I believe I have just placed my right foot on the 3rd rung :)
 
Thanks so much guys for your encouragement!

I held WYE short overnight from Wed to Thurs because it was near 4-month highs and bumping its head against the 200-day moving average. Wed evening I said to my husband, "I never hold bio/pharma overnight, but I'm holding a WYE short for the morning volatility play. I mean they're Wyeth, I doubt they're gonna get bought out.

Well, I just logged in to my platform and WYE is up almost $5 a share on Pfizer buyout talks.

I cannot tell you how happy I am not to be short WYE this morning. The frightening part is that if WYE had run back up to 39.00 end of day yesterday, I very well may have been.

This is just one more reminder of why it's important to follow your rules when trading and one of my personal rules has been not to hold bio/pharma stocks overnight because they are soooo news-driven :eek:
 
Yesterday in chat I commented that APOL insiders sold hundreds of thousands of shares of stock over the past couple days and wondered if they were facing another class action lawsuit. I was recommending APOL as a strong swing short position.

Did I put on a swing short position? No.

Is APOL facing a lawsuit? Yes. This morning's news has already driven the stock down $2 in pre market.

Was insiders selling hundreds of thousands of shares a strong short signal? Damn straight!

My friend BigHog said: "Being aggressive at or just before your signals is relative to your courage."

She who hesitates, loses.
 
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