ACMR is over, but I think I am in love with margin
As I start today I want to make a comment on change. Change can be a great thing in your life if you are willing to accept it, go with it, and try. When the door of opportunity opens a crack, I don’t just peer through and try to guess what is around the corner, I hit that door so hard that is swings and breaks off the hinges. Jumping at opportunities is something I love to do, and the risk is rarely on my mind.
With that being said, I woke up this morning hoping for something good to happen in ACMR, because even though it’s only a few hundred bucks loss capped, it's still a loss. The stock opened up down, of course, and it seems that I just can’t win with it. My stop loss is at $15.90, and whether it be an act of the stock gods teasing me or something I am just not aware of, the stock hit $15.90 on the dot marking the current low of the day. Now basically accepting my $274 loss, I checked my order status to find out the order is still good, and I am still in my full position. What the heck? I am all dressed in black ready to close the coffin and here I am still in the position?
The only explanation I found is that the stock hit $15.90, and bounced quickly (could market makers have been trying to pick up my shares, hmm…), which is what it did. Two minutes after the hit the stock was up over $16, which is definitely fowl play in my mind. Now watching it here an hour and some odd minutes later, it is sitting in a range of $15.96 - $16, the only problem is that at $16 there is a ton of resistance.
Stepping away from ACMR though, I made some other calls today in my simulators that I should note. I shorted RNWK, which ran up some 30% yesterday, BRCM, which had a heavy distribution day yesterday, bought 500 AAPL, which fell heavily in after hours because IPOD sales weren’t as expected, and had Oct. puts on NDAQ, which was horribly extended over the 50-day moving average. I am green all over the place, RNWK is down 1.57%, BRCM down 1.48%, AAPL is up over a point where I got in, good for $500+ (10:58 AM update: BRCM hits new lows, I’m finally out for a $274 loss), and my NDAQ puts are up 50% as the stock is down 3.45% right now.
So though I lost on ACMR, It feels good to be up in my simulator. I am working on shorting and options before I go for the glory and add margin to my APEX account. I never really imagined myself trading options and shorting in real life at 19, but what the hell, the only person holding me back is myself. I have found that my trading goes far out beyond the money aspect, yes it feels good doing a $500 pop in one day, hell I’ve done five digit runs in a single day, but the symbolism resembles life in many ways. Winning and losing are all based on your attitude; some of my greatest losses have been my greatest wins, and visa-versa.
Well the day is still young, and I feel upbeat as I get to watch a few of these stocks play out. I am looking at AAPL coming close to breaking $50 a share and standing its ground, but NDAQ is has showed some intra-day strength climbing to $29.51 (it has a high of $30.38 on the day). I am leading the way in close competition with my buddy Mark in one of our group simulators, but in our main contest I am still in 2nd to who else but Mr. Mark Zimmer, who has a demanding lead. O man, NDAQ takes a 15 second free fall from that $29.41 to now $28.91, $28.80…$28.70… $28.40… got to love those options…
Regards,
With that being said, I woke up this morning hoping for something good to happen in ACMR, because even though it’s only a few hundred bucks loss capped, it's still a loss. The stock opened up down, of course, and it seems that I just can’t win with it. My stop loss is at $15.90, and whether it be an act of the stock gods teasing me or something I am just not aware of, the stock hit $15.90 on the dot marking the current low of the day. Now basically accepting my $274 loss, I checked my order status to find out the order is still good, and I am still in my full position. What the heck? I am all dressed in black ready to close the coffin and here I am still in the position?
The only explanation I found is that the stock hit $15.90, and bounced quickly (could market makers have been trying to pick up my shares, hmm…), which is what it did. Two minutes after the hit the stock was up over $16, which is definitely fowl play in my mind. Now watching it here an hour and some odd minutes later, it is sitting in a range of $15.96 - $16, the only problem is that at $16 there is a ton of resistance.
Stepping away from ACMR though, I made some other calls today in my simulators that I should note. I shorted RNWK, which ran up some 30% yesterday, BRCM, which had a heavy distribution day yesterday, bought 500 AAPL, which fell heavily in after hours because IPOD sales weren’t as expected, and had Oct. puts on NDAQ, which was horribly extended over the 50-day moving average. I am green all over the place, RNWK is down 1.57%, BRCM down 1.48%, AAPL is up over a point where I got in, good for $500+ (10:58 AM update: BRCM hits new lows, I’m finally out for a $274 loss), and my NDAQ puts are up 50% as the stock is down 3.45% right now.
So though I lost on ACMR, It feels good to be up in my simulator. I am working on shorting and options before I go for the glory and add margin to my APEX account. I never really imagined myself trading options and shorting in real life at 19, but what the hell, the only person holding me back is myself. I have found that my trading goes far out beyond the money aspect, yes it feels good doing a $500 pop in one day, hell I’ve done five digit runs in a single day, but the symbolism resembles life in many ways. Winning and losing are all based on your attitude; some of my greatest losses have been my greatest wins, and visa-versa.
Well the day is still young, and I feel upbeat as I get to watch a few of these stocks play out. I am looking at AAPL coming close to breaking $50 a share and standing its ground, but NDAQ is has showed some intra-day strength climbing to $29.51 (it has a high of $30.38 on the day). I am leading the way in close competition with my buddy Mark in one of our group simulators, but in our main contest I am still in 2nd to who else but Mr. Mark Zimmer, who has a demanding lead. O man, NDAQ takes a 15 second free fall from that $29.41 to now $28.91, $28.80…$28.70… $28.40… got to love those options…
Regards,
posted by Blain Reinkensmeyer at
11:26 AM
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