watchlist for today
SHORTS
MCD
MDRX
MTH
WERN
PLCM
PWR
SHORTS
MCD
MDRX
MTH
WERN
PLCM
PWR
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Weinstein Trading and Fading
- Thread starter Robert Weinstein
- Start date
What a day. Lots of stocks lighting up the screener today. way more than could be managed even with all the monitors.
weekend carry overs turned out well.
PLCM + 128 in addition to what was made on Friday.
PWR + 250 in addition to what was made on Friday.
MRDX + 37 (overbought to cover on Friday so I closed at the open)
CNC first started a move downward and I put in bids to start to buy back and missed by a few pennies of closing some shares.
CNC then moved up very fast with no volume. Shorted more into the move but continued to move up. Stoploss protection kicked in and started to buy back large amounts of shares.
CNC then continued to move higher and I shorted again as it went above the daily highs during the last two weeks. CNC then started moving down and I started once again to buy back what I had shorted for profits but small. Ended up losing again today but moved the cost basis up a lot. Also number of shares short is a lot less so risk is lower. -3991
My next major challenge was AMZN. started shorting it and then IB said no more shares to short. Watched in frustration as it moved higher and kept trying to short. Ended up selling ITM near month calls but by the time the math was done to figure out which options would offer me the best way to short AMZN had already fallen off the highs and was falling pretty fast.
I was able to make some with the options but not nearly as much as I would have by shorting the stock. Needless to say I am disapointed with IB. I have a baseless feeling that Timberhill kept the shares so that they could short it as once the best was over the shares became available again to short. + 761 including options
BJ + 322
S:6b
near the end of the day I shorted with the intent of holding overnight ALKS. It actually came near my bid to buy back which was aggressive considering the price of the stock. went in to the close with a small open gain.
- 2261 for the day / week
- 5591 for the month.
weekend carry overs turned out well.
PLCM + 128 in addition to what was made on Friday.
PWR + 250 in addition to what was made on Friday.
MRDX + 37 (overbought to cover on Friday so I closed at the open)
CNC first started a move downward and I put in bids to start to buy back and missed by a few pennies of closing some shares.
CNC then moved up very fast with no volume. Shorted more into the move but continued to move up. Stoploss protection kicked in and started to buy back large amounts of shares.
CNC then continued to move higher and I shorted again as it went above the daily highs during the last two weeks. CNC then started moving down and I started once again to buy back what I had shorted for profits but small. Ended up losing again today but moved the cost basis up a lot. Also number of shares short is a lot less so risk is lower. -3991
My next major challenge was AMZN. started shorting it and then IB said no more shares to short. Watched in frustration as it moved higher and kept trying to short. Ended up selling ITM near month calls but by the time the math was done to figure out which options would offer me the best way to short AMZN had already fallen off the highs and was falling pretty fast.
I was able to make some with the options but not nearly as much as I would have by shorting the stock. Needless to say I am disapointed with IB. I have a baseless feeling that Timberhill kept the shares so that they could short it as once the best was over the shares became available again to short. + 761 including options
BJ + 322
S:6b
near the end of the day I shorted with the intent of holding overnight ALKS. It actually came near my bid to buy back which was aggressive considering the price of the stock. went in to the close with a small open gain.
- 2261 for the day / week
- 5591 for the month.
Attachments
watchlist for Tuesday
VRX
RCII
SPLS
FFIV
BJ
VRX
RCII
SPLS
FFIV
BJ
MON 23.6% retrace is at 113.42
Overall a very slow day. Gave me time to work on charts
First signal today was with LDK. Way overbought during the open. Tried to short it but IB didnt have any shares it wanted to loan me. Ended up shorting ITM near month calls to get a high beta to the price. Commissions are so much higher with options so I was not happy about it but I guess thats all I could do. + 872
Scalps
VRX - 2
INFA +16
FFIV + 5
DNA + 21
C7
Traded CNC back and forth. Traded 1K shares both buy and sell so my net is the same. - 267
ALKS was the carry over from yesterday. bought back at the open + 384
+ 1029 for the day
- 1232 for the week
- 4562 for the month
First signal today was with LDK. Way overbought during the open. Tried to short it but IB didnt have any shares it wanted to loan me. Ended up shorting ITM near month calls to get a high beta to the price. Commissions are so much higher with options so I was not happy about it but I guess thats all I could do. + 872
Scalps
VRX - 2
INFA +16
FFIV + 5
DNA + 21
C7
Traded CNC back and forth. Traded 1K shares both buy and sell so my net is the same. - 267
ALKS was the carry over from yesterday. bought back at the open + 384
+ 1029 for the day
- 1232 for the week
- 4562 for the month
Attachments
swing trade alert
DNA
Asking 99.35 to short to start the scale in. Next point is about 1% higher or about 100.50
DNA
Asking 99.35 to short to start the scale in. Next point is about 1% higher or about 100.50
Quote from ndjeff7:
Hey there, I really enjoy reading your journal everyday as I trade equities as well. I'm not sure if you know, but DNA has been the subject of an attempted takeover and odds are that they are looking for a higher bid. Just an FYI in case you didn't know!
Hello Jeff,
Thanks, its very nice of you to point that out.
While I didnt know that was the reason for the move I did know by looking at the move that there was very big news for the stock. What your seeing is big time greed going on.
DNA did not make my limit sell price but I will again be looking at it tomorrow as it did stay high enough to maintain its near setup for at least one more day
Best to you
not much going on today again. two days in a row I have spent more time beating my head against the linux server i am trying to setup than trading.
traded CNC back and forth. mostly added to my current short. Ended up shorting about 2500 more shares at 23.49 by the end of the day.
also traded 500 shares of VRX scalp + 75
- 38 for the day
-1270 for the week
-4600 for the month
traded CNC back and forth. mostly added to my current short. Ended up shorting about 2500 more shares at 23.49 by the end of the day.
also traded 500 shares of VRX scalp + 75
- 38 for the day
-1270 for the week
-4600 for the month
MON retrace 38.2% = 119.63
Very slow day today. Mostly worked on the Linux box I am trying to get running. very slow process.
Traded 5K shares of IAR on the TS account to get the month free of platform fees.
Traded CNC back and forth again today. Getting hit with FIFO accounting again. On the otherside the cost basis keeps going up. - 891
started trading some IAR as a volume builder. going very slow to see how it works out before a real commitment.
- 891 for the day
- 2161 for the week
- 5491 for the month
Very slow day today. Mostly worked on the Linux box I am trying to get running. very slow process.
Traded 5K shares of IAR on the TS account to get the month free of platform fees.
Traded CNC back and forth again today. Getting hit with FIFO accounting again. On the otherside the cost basis keeps going up. - 891
started trading some IAR as a volume builder. going very slow to see how it works out before a real commitment.
- 891 for the day
- 2161 for the week
- 5491 for the month