The Super Terrific Happy Hour
- Thread starter Max E.
- Start date
PETS and SGMS were the earnings breakoutbuys of the day, but both of them were very hard to detect in real time because there was no gap and a general lack of interest pre-market, so you would have had to have one of those ideas going in.
I was thinking about PETS through 44.50, but i got sidetracked in DRYS, then PETS had already gone up another buck by the time i quit focusing on DRYS, i just made the wrong choice today, it would have been very hard not to get shaken out of PETS when it bounced 46 for the third time though so i probably would have screwed it up.
I was thinking about PETS through 44.50, but i got sidetracked in DRYS, then PETS had already gone up another buck by the time i quit focusing on DRYS, i just made the wrong choice today, it would have been very hard not to get shaken out of PETS when it bounced 46 for the third time though so i probably would have screwed it up.
Here is SGMS, in a rip roaring market i would have been more tempted to take that bull flag, but i just didnt want to fight it in this bullshit market, so i passed.
Both SGMS and PETS were text book breakouts ON THE DAILY, but they were very hard to pick up on until they had already made their initial move, because they werent really gapping up and putting in volume in the premarket, then by the time you really realise how obvious it looks, you dont want to chase it at that point, especially not in this kind of market.
Both SGMS and PETS were text book breakouts ON THE DAILY, but they were very hard to pick up on until they had already made their initial move, because they werent really gapping up and putting in volume in the premarket, then by the time you really realise how obvious it looks, you dont want to chase it at that point, especially not in this kind of market.
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Sorry for slacking off lately guys, im going to try to put up more analysis on broken trades as well not just the trades i take, but im back now, summer vacation is over, for me, so i got alot more time now.
Anyways, here is what i was looking at on DRYS, the stock is a total dog, but it seems like its becoming too easy for total fucking pikers to short this thing with size at any level on any pop, and make tons of money.
I said this too the 2 guys i talk to in our room today,
"There is probabably over a million shares of DRYS short just in our room, and its SSR"
So i thought it would be a struggle for it to go down, it just seems like every piker with an account is now shorting every single DRYS pop with size no matter what.
One of these days its going to explode upwords like it did on its move from 4 to 100 last year, but it was probably stupid of me to fight such an obvious dog shit stock, especially on a monday when there is just a general lack of interest in the market.
My initial thought when DRYS was trying to break 2.20 was that everyone and their dog must be hoping to cover their DRYS short on the other side of 2.20, it initially held there so i thought i was vindicated, but then it just did what DRYS does every single day and made a bee line for 0.
I only lost a couple hundred bucks on this trade, but in reality, it was probably pretty dumb to ever look at DRYS as a long, its just a lack of discipline, DRYS is going to zero just a matter of time, i was basically just taking a lotto ticket when i bought DRYS today, and a large part of it probably had to do with the fact i couldnt get short shares in either account.
Anyways, here is what i was looking at on DRYS, the stock is a total dog, but it seems like its becoming too easy for total fucking pikers to short this thing with size at any level on any pop, and make tons of money.
I said this too the 2 guys i talk to in our room today,
"There is probabably over a million shares of DRYS short just in our room, and its SSR"
So i thought it would be a struggle for it to go down, it just seems like every piker with an account is now shorting every single DRYS pop with size no matter what.
One of these days its going to explode upwords like it did on its move from 4 to 100 last year, but it was probably stupid of me to fight such an obvious dog shit stock, especially on a monday when there is just a general lack of interest in the market.
My initial thought when DRYS was trying to break 2.20 was that everyone and their dog must be hoping to cover their DRYS short on the other side of 2.20, it initially held there so i thought i was vindicated, but then it just did what DRYS does every single day and made a bee line for 0.
I only lost a couple hundred bucks on this trade, but in reality, it was probably pretty dumb to ever look at DRYS as a long, its just a lack of discipline, DRYS is going to zero just a matter of time, i was basically just taking a lotto ticket when i bought DRYS today, and a large part of it probably had to do with the fact i couldnt get short shares in either account.
Last but not least i was looking at ES today but i wanted to see a break through 2463 to potentially short it, but of course it just turned into chop, because everything is always awesome in the land of the perfect, and the market only ever goes up.
Here is a 4 day 5 minute chart to show what i was looking at below 2463.
I didnt take any trades on ES, SGMS, or PETS, im just showing 3 trades i passed on today, and the reasons i passed.
Here is a 4 day 5 minute chart to show what i was looking at below 2463.
I didnt take any trades on ES, SGMS, or PETS, im just showing 3 trades i passed on today, and the reasons i passed.
Ooooof, ate shit on that one, too agggressive while it was still too illiquid, my eyes were bigger than my mouth lost 280 on McDicks, still confident MCD goes up today, but it easily could have went another buck against me, just dumb position sizing on this trade, shouldnt be risking a thousand bucks on a starter unless im confident.
I wouldnt reccomend trading like i do under any circumstance, but i was willing to fight to the death today on AKS, im pretty sure after the open i wasactually influencing the chart, lol, you always know your in bad shape when that happens. But i was filling to blow out my whole month on AKS because i was finally confident enough in something that I was willing to pay the price of admission. Think i was up to 12k shares at one point average 6.37, and i just kept selling as soon as it went my way.
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