Trade #92 – Two Bad Trades

In Trades by JCLeave a Comment

I added money to my SureTrader account last week and have been waiting to make my return to trading NASDAQ stocks. I sat out Monday and Tuesday because I didn’t see anything convincing to trade. Not a lot of high flyers as of lately.

I’ve been having a lot of luck with an over-bought scanner that I configured using Trade Ideas. Last night it called out XOMA and BZUN. By the time I checked on XOMA this morning it was already down big.

Wasn’t sure XOMA could take any more abuse so I moved on to BZUN.

The volume was very weak at the opening this morning so I assumed the hype and BS run was over. I should have checked the one month chart, news and honed in on the Alibaba earning news as BZUN was a sympathy play on BABA.

Its like my brain forgot to go through the fundamentals this morning. Revenge kicked in and I went for round 2. I ended up losing both fights.

Trade #1

Short – $7.54
Covered – $7.77

Trade #2

Short – $7.57
Covered – $7.80

I video taped this trade to help me further document what works and what doesn’t. Enjoy my pain and agony in the YouTube video below.

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