Spydertrader's Jack Hershey Equities Journal II

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Quote from chapper:

Today was a very interesting day...

I am still holding MTEX, it traded over FRV today, the chart still looks good, so I will be holding this one... in light of Fed day, I will again be cautious.
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Well today was disastrous... It clearly says on Yahoo Finance that MTEX is posting earnings on Thursday May11. MTEX decided to suprise everyone and post earnings a day early, much to my dismay.

The stock gapped down, over my stop limit at 19.50 and I didn't get out until it hit $16. Nice 5k down the drain. Oh well, time to pick up the pieces.

Furthermore... it turns out that MTEX is an Multi-Level Marketing company (Amway anyone?) I absolutely hate the fundamentals of these businesses... basically they push a lot of overpriced junk that and lacks any credible evidence that it does what it is supposed to. Anyway.... MTEX just earned a spot on my black list of stocks doomed for failure. I will be looking to build a short position on this one....

I hope everyone else had a better day
 
I made a couple of 2nd derivitive trades today after the FOMC announcement. The announcement to me seemed friendly to the markets so I felt it was OK to resume trading.

ASPV is up 3.3% and I'm still holding (thanks to S for mentioning it this morning.)

ENER is up 1.8% and still holding, although I should have closed it out as the intraday action was not favorable

WCC closed out for a small loss (made b4 the FOMC announcement).

Doug
 

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Quote from chapper:

Well today was disastrous...
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Sorry to hear about your morning surprise, and I'm glad to see you have already planned to move forward - learning a valuable lesson along the way. Certainly, this loss does not represent an insurmountable challenge. I look forward to you regaining the lost ground as you work to eliminating this temporary draw down.

- Spydertrader
 
I was watching ENER too and felt that it would continue to go up. Unfortunately I did not enter as I was more interested in entering another stock. In the end did not enter any stocks, mainly because would not be able to monitor the open tomorrow morning. Now I am pretty upset as those stocks would have netted nice profits for me even if I held it for the day only. Damn.:mad:

FWIW, I think ENER still can go higher. Like the chart and the reaction before and after the Fed meeting. Good luck.
 
Quote from chapper:

Well today was disastrous... It clearly says on Yahoo Finance that MTEX is posting earnings on Thursday May11. MTEX decided to suprise everyone and post earnings a day early, much to my dismay.


I hope everyone else had a better day
More...

Also sorry to hear about your experience with MTEX chapper....

I have been concerned over the last week with how difficult it is getting reliable information about earnings release dates.

Following what happened today with MTEX, my new rule is not to trade a stock in dry up within 2 days of an earnings release - just to provide a little bit of extra precaution...

Wishing your account a speedy recovery chapper...
 
My watchlist for today...

CFK CNTF CTHR FMD FORD GMXR IVAC TASR TRLG

So far only GMXR is looking good technically...

Bruno R setups:

ASPV NTRI

good luck to all today...
 
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