UARM, MRVL Closure
UARM As I stated I would with UARM, I woke up to get on my computer at 9:30 AM to hopefully a higher open. To cover my costs on whole cycle I needed to get out anywhere above $26. The stock opened right around $26, and I decided to hold, after about 15 minutes a high of $26.44 was seen, but the spread was so big and it happened so fast I held again. Eventually, the stock resided in the same trading range from friday, and I got out in a limit order at $25.99. Overall loss - $3 . I am not upset with the overall play, I just missed pulling the trigger in vote of a higher sell price. I wanted to be out before 10AM, and I didn't get out till 10:30ish. Afterwards I went back to sleep to woke up around now when I am writing this, and the stock is at $26.50. Sadly holding until the afternoon was not part of my gameplan.
MRVL I stated I was considering a short on this, and short I did in a client's account late friday. This morning the stock was bouncing around, and in a climax run I sadly covered my short for about a $.11 per share profit. The stock is now down $.75 which would have given me about a $1 per share profit. It is important to note though that my strategy was again to get out before 10 because I was banking on a quick sell off spread. So, overall the trade was not a failure, and my discipline proved strong.
Thought of the trades - You can always look back and see with 20/20 vision, but there is no use dwelling in that site because you cannot change what you have already done. All you can do with the past is learn from it. Simple right? Very wrong, especially with day trading, emotions are your worst enemy. Any day trader regardless of how long in the game will tell you it still becomes hard to make a play when you aren't in the black. "I'll just squeeze a few more pennies out of this one", "I dont need to sell, it is going to come back", etc. My opinion - walk in with a sell point, a buy point, and a overall strategy, walk out looking back knowing you went along with it. If it could have gone better, adjust for next time. Don't dwell, just keep it simple, stupid.
My Simulator Account I did also buy puts on MRVL which I still now hold, I shorted 1,500 shares last friday and along with my 1,000 shares of NVDA these are my only current simulator positions; NVDA is up about $.50 so far today.
Thought of the day –
“To see the opportunity,
Is to realize the opportunity,
And to realize the opportunity,
Is the first step in making the change.”
Regards,
MRVL I stated I was considering a short on this, and short I did in a client's account late friday. This morning the stock was bouncing around, and in a climax run I sadly covered my short for about a $.11 per share profit. The stock is now down $.75 which would have given me about a $1 per share profit. It is important to note though that my strategy was again to get out before 10 because I was banking on a quick sell off spread. So, overall the trade was not a failure, and my discipline proved strong.
Thought of the trades - You can always look back and see with 20/20 vision, but there is no use dwelling in that site because you cannot change what you have already done. All you can do with the past is learn from it. Simple right? Very wrong, especially with day trading, emotions are your worst enemy. Any day trader regardless of how long in the game will tell you it still becomes hard to make a play when you aren't in the black. "I'll just squeeze a few more pennies out of this one", "I dont need to sell, it is going to come back", etc. My opinion - walk in with a sell point, a buy point, and a overall strategy, walk out looking back knowing you went along with it. If it could have gone better, adjust for next time. Don't dwell, just keep it simple, stupid.
My Simulator Account I did also buy puts on MRVL which I still now hold, I shorted 1,500 shares last friday and along with my 1,000 shares of NVDA these are my only current simulator positions; NVDA is up about $.50 so far today.
Thought of the day –
“To see the opportunity,
Is to realize the opportunity,
And to realize the opportunity,
Is the first step in making the change.”
Regards,
posted by Blain Reinkensmeyer at
2:00 PM
0 Comments:
Post a Comment
<< Home