So that they squeeze higher for those of us who are long.
The Piker Trading Journal, Gains-Losses.
- Thread starter JesseJamesFinn1
- Start date
So that they squeeze higher for those of us who are long.
@JesseJamesFinn1 you might like this article: https://www.turtletrader.com/pdfs/no-buy-the-high.pdf
Maybe give the link to your friend.
Maybe give the link to your friend.
He won't listen, once upon a time he was a dot-com hero. He was one of the guys who made over $10 million trading dot-com stocks in 1998, was a real arrogant knucklehead until his ex-wife took $4 million, left him with with $5 million. He blew up by 2003, all the gains I helped him make on small and nanocap were paid on massive cheap option trades he hoped would bring him back to $5 million again.
I will read the link, thank you!
I got a email, "I covered $109"! and he wants to know if I have another pick? I gave him ZM($190) and ZS@$96. He shorts them both covers ZM at $200 and holds ZS short all the way to $109, pain was too much?. Glad I did not tell him about FSLY at $36.3 Wed or PRTS. This is why mentoring is so hard.
Did he short ABIO Last week while it was moving up 400%?
I looked up my trade on abio, I bought 600 @8.30 in pre-market. I should have waited for the fight because I ignored abio until it hit $10. Missed selling at the high prices, I play day trades for $2 or $3 on bio. Not greedy.
I use options more than the underlying and I am often holding for a day or even a few days. But when I am day trading a stock that doesn't have options like ABIO I'm like you and I also play for $2 to $3.
Do you chase after 52 week highs like LULU? LULU caught my eye years ago but not as much as it did during the Covid Lockdown. It bucked the system, stock goes up without stores opening was a huge clue. Lately the $300-$320 Calls were going off before the stock hit $300. Makes me happy you are not greedy on crazy biotech stocks. That will keep you in the game, do you short them because that's one area someone my age is too chicken too. Keep your eyes on LULU, the $320s are going off. I would buy more time, safer on a large trend stock like LULU.
Caught PGEN, bought 6000 @ $3.27 average, sold at $3.60 not the high but not bad.