Weinstein Trading and Fading

Trading results 10/20/10

Started out as a pretty good day and then went south

I made a few trades and for the most part there just wasn’t much for me to get. I tried to make some things happen with DAL and that started out well with a nice gain. I went back to trade it again and ended up getting my hand caught in the cookie jar. Tried to trade my way out of the trade and that did help some. Still short some shares but will be looking for the exit tomorrow.
Closed out C in my trading account but still own it longer term in the IRA. Still holding COCO and plan to add more this week. Not the funnest day but first loser in over a week and pretty small so looking forward to ending the week strong. Still short some DAL so maybe in the end it will turn into a nice winner

C + 20
C Nov 4 Call – 7
CHKP + 283
DAL – 459
SNDK + 19

- 143
 
Trading results 10/21/10

Beat my head against DAL all day

Stayed short and traded back and forth for most of the day with DAL. This trade didn’t work out well and I still have some shares short but will close it out tomorrow. BE is near the closing price so if it trades lower tomorrow maybe I can get a mail in rebate.
DAL – 2681

LIVE was trading very crazy and I went with the flow and traded it long. + 157

Even after today its been a good month so I am not going to let today get me down. IF DAL moves down sharply tomorrow this could still turn into a profitable trade but either way I think I will hit the exit. I had one eye on COCO as well today and will be looking to add.

- 2524
 
Quote from Robert Weinstein:


Beat my head against DAL all day
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How can you trade that thing-it trades mere 10c range on a good day ( not counting the intial jacked up gap up or down which is typical of NYSE stocks)-put up a good list of decent range stocks you can easily double or triple yr results.
 
Just about everything I did turned out great today

WOW, you just can’t ask for a lot more than I received today. I did take a small hit with DAL but I had some size with that one and covering as I did really lowered my risk. I had the signal to short into the close yesterday so those shares turned into a layup but the damage was done before that. DAL was poorly traded but I allowed (I think) the fundamentals of the company/industry to cloud my thoughts. Why anyone would want to invest in airlines is beyond me but I guess that is what makes a market. I wrote up as much is seekingalpha and once again I found out that you gain no friends by writing negative opinions on stocks but everyone loves you if you have good things to say. I guess I should be thankful. I think the reason that I make money in the markets is less about how great of a trader I am but rather how bad the counter-parties can be at times. Waiting around until you get a lot of clueless people on the other side of the trade seems to be the real way to make some money (as I listen to Crammer on XM radio).

I ended up trading around 20K shares and my wrists are feeling it. I still need to write up my article about COCO but I hope to have it done this weekend. I have lots of charts to go over so that may or may not happen. One thing for sure I really like COCO in terms of writing puts. I think the downside is very small compared to the stock at least keeping above 4 per share. I am unsure why people are letting go of their shares so cheap but that’s ok with me. I will be adding and happy to buy them and write out insurance policies for people who fear that the stock will go under $4 per share.

Lots of winners today and I have to give a big thanks to the chat room for a lot of it.

APC multiple 4bar overbought signals + 248

ARNA penny stock called out in chat + 18 I ended up stopping out when it moved back

DAL was my hit my head with a hammer yesterday. I grabbed my sack into the close and shorted more shares as the stars lined up to give me a short signal into today. That was the best trade I made with DAL as it was finally ready to retrace back. DAL is why as traders we should not try to make things happen but rather why we just take what we are given and run with it. Small hit today but I am glad that I ended this one on a positive note of trading it well today. – 69

FTNT was a B9 signal that worked out perfect. too perfect as I didn’t get many shares short and worked with only 100. But the gain was good for a 100 shares. + 63

RITT another chat room call out that as luck would have it met the setup that I spent hours last night studying. I really like this setup and I am working on back testing what appears to be a very solid setup for late day increases in stocks that are acting strong. traded small size but the concept is looking very bright. + 69

RVBD was a stock that I went back to over and over again today. the first signal was a dual 4bar and then I worked it by covering during the dips and shorting on peaks. This went on several times and by the end it turned into the best trade of the day. While it was the best trade it really was multiple trades built into one signal. Nice movement the whole way. + 787

SOHU like RVBD turned into an ATM machine spitting out cash. This one was good for all the players. Money was to be made on the long and the short side of it. Firstly giving out a long signal (same as RITT) and then going so far as to give a short signal. I was able to add some size without going overboard as the chart looked so well. Then I hit the end of the day and had to walk. + 597

TZOO was the last one that I looked at but when I started setting up the short IB went from …. cough cough 400 shares available to short to 200 and then to 100. Well that was totally worthless. I understand that IB is a lot like McDonald’s but that was a bit frustrating after such a good day when you know you could really send the number over the top in gains. It “would” have been a profitable trade….

in the end the day was good and the Bud Light was cold and I moved on to have Friday movie night with my family so I guess I am happy to have this day and this week.

Have a great weekend everyone

+ 1716
 
Trading results 11/9/10
Posted on November 9, 2010 by Robert Weinstein

Removed capital from my IB account today and sure enough it made a difference.

I am getting ready to move brokers so I left what I thought was enough to keep the account going while I move funds into the new broker. As it turns out I started pounding the hell out of LOGI a little early relative to the amount of capital still in the account. ran out of bullets and started to take a stop loss in an attempt to trade through the move. It didn’t work well and I ended up giving up my gains for the day. A little frustrating but after some reflection I understand that these days are going to happen when I push for the returns I been getting. All in all I am ok and when I move I would guess these issues will be a matter of history as well.

I am currently strongly looking at Hold Brothers and May get my series 7 next year as well. Right now I would not consider it as my wrists do not enjoy any more time on the computer than needed.

CCJ was a gap up after a B9 + 666
CDE B9 + 153
COCO sold and bought back shares in an attempt to allow for more shares of LOGI to be traded. Now with a lower basis as I sold at 4.25 and was able to buy back at 4.16. also which is interesting is that tech support took control of my computer and accidently bought 200 shares of COCO at 4.19 which ended up making a small gain as I left the shares alone until selling for .25. I think the tech guy thought he was in serious trouble but I didn’t give him a hard time due to the fact that it was a simple mistake and I was looking to add today anyway. – 129
LOGI B9 , first B9 loss in a long time and I blame myself for not adjusting size in relation to my account size. with proper size adjustment this would have been a very nice winner. Should I be upset or should I be happy with it?? still not fully decided. – 867
MDR Laurel intraday dual bar overbought + 25
SLW Brenton gap up non qual but also gap up + 3 days. the sad thing is that I shorted at 35.96 and it closed at 32.31 but my gain was + 68 on 100 shares

- 83
 
Quote from Robert Weinstein:

I am currently strongly looking at Hold Brothers and May get my series 7 next year as well. Right now I would not consider it as my wrists do not enjoy any more time on the computer than needed.

LOGI B9 , first B9 loss in a long time and I blame myself for not adjusting size in relation to my account size. with proper size adjustment this would have been a very nice winner. Should I be upset or should I be happy with it?? still not fully decided. – 867
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Hi Bob,

Sounds like good stuff going on and all the best with Hold Bros and the Series 7.

Regarding LOGI, I started an informal "study" a while back where each day when I see stocks hitting the hi ticker well over 100 times, I jot down the price as a buy entry and every one of them becomes profitable, some rather quickly. Yesterday when I saw LOGI hitting the hi ticker all morning, then later saw it hitting it again around 22.50, I was going to buy it, but the spread and jumpiness was a bit much for me. Nonetheless, it gained over .75 in less than 10 minutes. One morning with NFLX, the stock gained over 4.00 in a similar time frame after opening gapped up. Both of these stocks have a 20% short interest, which really fuels strong moves that run much further than you think is possible.

I would recommend buying these stocks when they start hitting highs like that, then no worries about running out of shares to short. The best time to short these is when a high of day is retested and fails to break out to a significant new high. At that point even the greediest longs will start taking profits.
 
What broker are you with now if i may ask? Schwab is pretty good-although they dont offer .006/share commision that they once offered cybertrader clients. But execution and availability of shares to short would be my main concerns. Best day yesterday of my career up27% on entire account. Trade carefully I think OPEX has come early :)
 
Great day. Best day in over a month.

My day started out with the carry over of LOGI being closed out at about 3am with a very nice gain. That was not the end of the day though as I had some other very nice trades. I ended the day with putting on a very large short position with TTM that I am holding overnight. Shares were not available with IB so I shorted Nov near money calls and a few Dec calls. I am actually writing the results in premarket and I can see that TTM is giving a lot of love so far as it is down over 1.40 a share. This should turn into a pretty good trade. I did start buying some shares to hedge at 33.35 so it appears I will have to give some gains back but I think this ends well from the look of it now.

AIZ + 1068
BJ + 100
GGP + 34
LOGI + 2275
PEGA + 297

+ 3774
 
Thanks Nod,

I hope your not getting your hands to dirty with CL,,,,(dumb joke I know...)

The trade was fine and I just became a little excited to get "real" short. turned into a good trade but it did apply a little heat to my face beyond what I feel from all the monitors.

the gain would have been better had I waited and shorted higher but its all good.

I can see myself changing over to another broker though. Not sure which one but when offered more leverage and lower prices its hard to justify staying retail.

Take care

Robert




Quote from NoDoji:

Hi Bob,

Sounds like good stuff going on and all the best with Hold Bros and the Series 7.

Regarding LOGI, I started an informal "study" a while back where each day when I see stocks hitting the hi ticker well over 100 times, I jot down the price as a buy entry and every one of them becomes profitable, some rather quickly. Yesterday when I saw LOGI hitting the hi ticker all morning, then later saw it hitting it again around 22.50, I was going to buy it, but the spread and jumpiness was a bit much for me. Nonetheless, it gained over .75 in less than 10 minutes. One morning with NFLX, the stock gained over 4.00 in a similar time frame after opening gapped up. Both of these stocks have a 20% short interest, which really fuels strong moves that run much further than you think is possible.

I would recommend buying these stocks when they start hitting highs like that, then no worries about running out of shares to short. The best time to short these is when a high of day is retested and fails to break out to a significant new high. At that point even the greediest longs will start taking profits.
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I guess I couldnt as it turned into a loser.





Quote from GG1972:

How can you trade that thing-it trades mere 10c range on a good day ( not counting the intial jacked up gap up or down which is typical of NYSE stocks)-put up a good list of decent range stocks you can easily double or triple yr results.
More...
 
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