Trade #86 – I’m Back

In Trades by JC3 Comments

I stopped trading for a while to focus on the basics. During my absence from blogging I decided to join the MOJO day trading room. I don’t want to sound like an advertisement, but the MOJO room is definitely worth checking out. I feel that my knowledge of the market has double or tripled since taking MOJO U.

For the past year my primary focus has been on day trading violate stocks at the open. Day trading is glamorous and fun, but it’s not what I set out to do in the beginning. I’ve always envisioned myself as more of a swing trader.

Starting today, the focus of this blog will be shifted more towards swing trades. I want to look at the big picture and trade it. Day trading a small account just didn’t work out for me. Commission fees ate away at any profits I made.

The trades below were placed using Robinhood. If you haven’t heard, they don’t charge commission fees. Robinhood is great for swing trading.

I recently started another website to help myself track company news for stocks that I trade. Feel free to use my notes in addition to yours. Check it out at gn95.com.

You can also checkout my trading log here.

I’m currently in 3 trades.

$UWTI – Long @ $0.98 – I plan to hold onto this one for a while, possibility add more as time goes by. Oil is way down right now. The trend is starting to go back up.

$NUGT – Long @ $2.97 – I plan on holding this one to see if gold can make a come back. This stock closed today @ $3.13.

$CYTX – Long @ $0.34 – I feel as if I purchased this one simply because it was cheap. I’m hoping this stock doesn’t bite me in the ass. IBD shows quarterly losses decreasing. May be a good stock to hold for an extended period.

Comments

  1. Author
    JC

    To free up some additional trades for next week, I sold both $UWTI and $NUGT this morning. (PDT rule)

    UWTI – bought @ $0.98 – sold @ $1.10
    NUGT – bought @ $2.97 – sold @ $3.40

  2. Author
    JC

    It’s about 2 weeks later and I’m still long $CYTX @ $0.32. I bought this thinking the stock was bottoming out. Descent companies can sometimes have their stock devalued a little. Especially after a big sale-off. There was some good news that came out today. The stock traded 10 millions, had a small pre-market gap up but closed only $0.06 higher today. A lot of volume and such a small more.

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