Swing trade
I've been playing very cautiously for the past two days. I want to test one of my old trading strategies - swing trading type, holding not many shares, but hold it for a day or two and get out with a better profit margin. I think the result speaks itself today. I sold CSUN right at the top around 15.70, thanks for some better charting tools. I'll get back in CSUN again tomorrow, I think around 14.5 area based on chart, then ride for another dollar gain, I hope.
SPSN is not easy to play, it is sort of like CPWR the other day. I think I should stay away from these NASDAQ stocks gapped up huge with volume, these kind of gaps always screw the charts and TA indicators, make wrong judgement.
3 comments:
Nice play PT, I was trying to load 2000 shares of ESRG, and OptionsXpress does not allow to trade this stock, IB does not even recognize the symbol. I just have to watch it gaining every day (well, it is actually every hour).
As I said before, ESRG would be one of the stocks like TBUR - "Wish I loaded the truck and put anything into it". The guys on ET were pissed about it's a penny stock with no volume at $1.60, now at $2.30s with millions of shares traded, what shall I say? Would you buy here at $2.30s or buy at $1.60s?
Smart money always load up before the run, only dumb money chases a running train.
SPSN got me for 168 so consider yourself lucky. And I gave DNDN back 40, so you did well on your trade considering the trade didn't pan out and bailing out quick is always the smart thing to do.
I'm not skilled enough yet to play the CSUN type yet, but congrats on pulling out some good profits.
The ESRG promo mailing effect must of kicked in today going by the huge volume.
How about letting us know what you are looking at for tomorrow?
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