Weinstein Trading and Fading

Second day back and it is already Friday. Another good day of trading and I have the weekend to try to get a little bit caught up.

OCLR was my first trade of the day with a gap higher after a William signal. I put a decent amount of size of it considering the price of the stock and the signal. I was able to get a “good return” on the investment. PPO was my big trade of the day. Much of the gain was the result of it moving back and forth while I scalped it. Even with all the scalping I was still able to get an oversized gain as PPO had some large moves back and forth.
Finally there was TRLG as a William signal but I sold at the very top and didn’t get much size on.
I posted a book review of “The Quants” today. Great book and well worth the read. After a few delays I was able to get multi-charts loaded on my computer. I am unsure that I will continue with it or not. Customer service may be an issue. I am not sure yet but will report back as I find out.
I am going to try to add a new feature to the reports starting today. I am going to list my long term longs and shorts (Long term as in more than a day trade)
OCLR +
PPO +
TRLG +
Day +

*******
Holdings
BKS short
COCO long
 
Well today was the best day of the month but I hope it turns into the worst as it will be Mac and Cheese being served in the Weinstein home at the rate I was going today.

The one and only short signal I had was with CDE and I didn’t put any size on it and I didn’t let it go to target. Both of these choices let to a lower result than it shoulda woulda coulda. With Silver and Gold making way for new higher ground I just didn’t want to get in front of some crazy stock. I also traded a few shares of JCG but only was able to grab a few pennies laying on the ground and that took all day to pick up. In fact I still had 600 shares short of JCG at the closing bell. I did have my bid hit in afterhours but it was a pretty slow day.
One good thing today was that I been busy porting over my intraday William signal into a interday signal that appears to offer a lot of promise. I have started backtesting and tweeking the setup and hope to have it in place later this week or early next week. This should really change my trading in several ways. The most exciting thing is that it takes the scalability to new levels. While I believe I could manage a lot of money before running into scaling issues the ability to trade in a larger time frame all but removes the issue for all but the very largest amounts of working capital. The next most exciting thing is that it should mean much greater returns in both amounts per trade setup and overall as it will simply mean more trading. This is something I have worked on for months and it is finally getting close.
CDE + 7
JCG + 26
Today +34
 
A little more busy than the last couple of days but I am fighting for every inch I can get.

BKS is basically near the puke stage. Today I decided that I would throw out a bid for a nickel on the calls that I wrote and it took a while but sure enough they sold. That closes out my swing short with BKS. I traded CDE again today from carrying it over last night. I took a dinging for the most part with it. I felt that with silver prices moving higher and the stock being down I should take what I can get. Technically it is bearish for a stock to not be able to climb on good news and so I decided to hold a few hundred shares short covered with puts as a time hedge.
I shorted more VRTX april calls. Today I added the 55 strike price. This is somewhat of a new type of trade for me. It is using my tested and true William signal adjusted for providing swing trade signals. It is designed to signal areas that if there is enough premium in options that I should short the calls. Based on the article I wrote in seekingalpha.com there are plenty of people that feel this may not be the smartest trade. They may be right but that will only mean I need to see if adjustments are needed.
I received a William signal with ITMN and while I had a bigger gain at the close, I traded it back and forth in after hours which had the effect of lowering my unrealized loss, realized gain and raised my average sale price.
COO was a gap up fade. It gave a Brenton signal but the signal was right at the dead top of the move.
BKS options + 167
CDE - 59
CDE 34P - 187
CDE 35P - 59
COO + 260
ITMN + 78
Today + 199
 
It’s been a few days since I’ve had a chance to post my results.

I have been busy upgrading my execution trading system computer. At the same time I have written several articles and I wife has not been feeling well so I have been in charge. It was a light week of trading overall. I have also been spending time on trying to figure out how to make this website better.
Of the trades I had today none were real big winners except for a William long trade with MED. Otherwise the rest of the trades were shorts. While I am short VRUS overall I am long the stock. I am short 11 options contracts and long 300 shares. Since the options are very illiquid I have been using the stock to trade around my position. While I post a small realized loss with VRUS today my short with it has worked well today and yesterday.
VRUS -
RCRC +
NDN +
MED +
ANIK +
today +
 
No offense to Robert. I think it's great that you've posted all your trials and tribulations as a trader in this thread. However, to see that you've managed to parlay that openness into a budding career of providing investment advice on both your website as well as other places (e.g., Seeking Alpha) is painful for me to watch. I guess I can't blame you, and I suppose the idiots that follow your advice and ruminations are more to blame. But, scanning through this thread I see no signs of a successful trader who's managed to build up an edge on the markets. Even the infamous shill Timmay could probably claim a better pedigree. This by no means is to say you should discontinue this thread or your other pursuits. I just feel that if it were me, I would have waited to become a successful trader first before offering myself up as an expert to the public.

Btw, I've lived exclusively off trading since 2003, so I feel I can make this comment here. And no, I don't plan on offering up any advice or services to anyone. Part of the advantage of trading for a living is the ability to be anonymous.
 
Quote from HotTip:

No offense to Robert...
More...

Hmmm ... i've been in bob's chatroom for over a year (there's a handful of people who've been consistent participants longer than me). But he sure seems to do very well from what i can tell. And given that he posts about every single trade - and i haven't seen you in the chat - kinda makes me wonder.

Let me guess ... bob posted an article on an over-valued p.o.s. that you lost your ass on?

JS
 
Today was a good ending to a good week. I am currently in a hotel that has a waterpark with my family so I will make this post a little shorter than today would normally warrant.
Today was option expiration day and while a little scary at times I was able to capture a fair amount of premium. GES puts that I sold yesterday at the close ended up stopping me about 30 minutes before the close cutting my gain by 10 cents before GES moved back above the strike price.
I wrote an article about FNSR and while I planned to trade it on Monday I missed the trade as I had a visitor on Monday. I spend almost all my days in my office by myself and so I am very thankful to be able to share ideas with other traders in the chat room. I believe that FNSR was sold off after guiding lower than expected and today I was able to use that research to my advantage. I sold some puts very near the opening bell. As the day went on the time decay worked it’s magic and it was set to be a good trade. With about an hour to go someone put up a 10 cent bid in what appeared to be someone who simply wanted to get the weekend started. I hit the bid for about 25 contracts and the other 20 contracts was quickly taken by someone else. It was a little touch and go for a while and FNSR found the way higher. Near the end of the day though FNSR started to fail and move towards the strike price. I covered some at five cents and some at two cents and finally left the rest to see if the price could stay above the strike price until 5pm cst (the latest time to exercise). I am unsure if the price did stay above or not as we left for the water park before 5pm

I had a few other good trades today and one that I missed the bulk of due to leaving my desk for about five minutes. I also watched HPQ for much of the day as I want to add it via selling puts into my IRA accounts. COCO was added to my account today due to some $5 puts being ITM. The premium didn’t cover the difference between the current value and the strike price but at least it is close. I still maintain my bullish bias so I don’t mind owning some more.

Have a great weekend
 
Hello HotTip,

Thank you for reading my journals both here on ET and other places. It is great to see people take the time to read them.

Thank you also for taking the time to comment on your thoughts.

I am sure that there are a great many people who have qualities that are beyond my current abilities and I am comfortable with that. I may never be able to hit a golf ball as well as Tiger Woods but that does not mean I am not able to enjoy the game of golf

I think it is unfortunate if you read 350+ pages of my journal and have not been able to see an edge. seems like a waste of time but perhaps you didn't read it all and missed what you needed to see.

I think if you find discomfort in reading any of my writing you may find it helpful if you simply stop and do something else more enjoyable with your time.

I wonder if some reading your post may think that it would take an idiot to keep reading hundreds of pages of posts and still not find the edge in my trading but continuously reading in search of one. Or perhaps some may think it would be an idiot who would not read the whole thread and then go ahead and publicly declare that they could not find it after reading it. I don't have the answer but hopefully you will gain some enjoyment in figuring it out for yourself.

Congratulations on your success in trading since 2003. It would appear you are very proud of that.

Best

Robert



Quote from HotTip:

No offense to Robert. I think it's great that you've posted all your trials and tribulations as a trader in this thread. However, to see that you've managed to parlay that openness into a budding career of providing investment advice on both your website as well as other places (e.g., Seeking Alpha) is painful for me to watch. I guess I can't blame you, and I suppose the idiots that follow your advice and ruminations are more to blame. But, scanning through this thread I see no signs of a successful trader who's managed to build up an edge on the markets. Even the infamous shill Timmay could probably claim a better pedigree. This by no means is to say you should discontinue this thread or your other pursuits. I just feel that if it were me, I would have waited to become a successful trader first before offering myself up as an expert to the public.

Btw, I've lived exclusively off trading since 2003, so I feel I can make this comment here. And no, I don't plan on offering up any advice or services to anyone. Part of the advantage of trading for a living is the ability to be anonymous.
More...
 
Tough trading day today.

Not only did I not get any real trades today but the big holds from yesterday worked against me as well. MCP did give me a brief moment to get out whole but I had already stopped out and moved on. VRUS continued to move higher today. I record a gain with the stock but some of the options have moved against me. I substituted put options for the stock as a hedge against the calls I wrote. I have been meaning to do this for several days and I paid dearly for the delay. I did get it done today and I will now get time decay on both the calls and puts. The nine day moving average is 62.81 and I expect that the moving average and the price will converge and VRUS will again trade in a range or slowly grind its way back towards the 55 level as interest moves to VRTX. Not that VRTX is that much better (even though it might be) but from news that is expected to come from them first. MU was an after hours trade based on the round number magnet effect. PANL was a call out from the chat room that I decided I didn’t like anymore simply because I had a small number of shares and I was watching it when I could have been getting other work done. So I closed it out and started working on a book review and an article about SIRI. WTW was my best trade of the day and was a Laurel signal trade.

I did manage to get a little bit today to mitigate what is otherwise be an unpleasant day.
JBL + 25
MCP - 3394
MU + 60
PANL + 18
VRUS + 631
WTW + 314
- 2343
 
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