Friday, November 17, 2006

NYMEX's Gift To Me

Scalp Tale of The Year!

Today was the IPO (Initial Public Offering) of the NYMEX (NMX).
I anxiously awaited the first trade to made by Chairman Richard Schaeffer, and I was already astonished by the 120% jump in the $59 offering price to $120 per share, I still knew there was room to fly up, as this may have been one of the most anticipated IPO's of the year, and it just so happened to be when the market is at it's all time HIGH!

It's around 9:45ish and the first trade was made....the stock is flying through the roof....I go to my order entry screen and punch in a 400 share lot, Market order.

Boom, I'm filled within seconds, share price $122.48!


Two minutes later the stock is near $138.25, I'm up over 10 points!!!! My nerves are jumping, my eyes looking all over the screen to make sure this is real, I've never experienced anything like this in the world!

Do I sell now, or get greedy? This question boggled my mind for seconds, with the stock still flying up a point per second, I look again, and the stock is at $149.88 per share, I quickly enter in a MARKET SELL ORDER, and I was filled fairly quickly.

Are you ready for this??

Stock: New York Mercantile Exchange (NMX)
Entry Price: $122.48
Exit Price: $149.93
Share Size: 400
Gross Profit: $10,980.00 !!!

This day is my day that will go down in history not only with me but in the world. Nymex surpassed the top two U.S.-based IPO's for the past six years, with it's one day percentage gain of over 125%.



I did enter another order for this stock and unfortunately it lost $5,430.45. This was to be expected as the stock peaked around $150 and some change, and decended from there on out. If anyone was Brave enough to short sell near the top, they would've made a hefty profit as well, but I highly doubt anyone had the balls to do so.

I'll take it:
Trades Made Today: 2
Net Profit: $5,549.55

Out,
CalTrader

13 comments:

TradingGoddess said...

Can you short the first day of an IPO?

Phileo said...

Wow, Congrats Cal!
Now go and spend some of that profit on a material reward before it gets lost in another trade.....

wincity said...

Great trade, cal!

I don't think you can short an IPO. I remember you'd have to wait something like 3 months.

Anonymous said...

nice work, wish i was trading this day to get a piece of it.!!!

dan said...

no trading goddess, i don't think so. could be wrong (i usually am).

cal. okay, now you're definately paying for our office, you quick bastard.

;)

take it easy, bro. great job man, you've been kicking ass.

dan. (boogster.com/dan)

Anonymous said...

Bravo, I tried 100 shares too late and lost a little. It was a brillint day - and you catch it....bravo.

It reminds me to keep on the ball more...good blog!!!

Glenn said...

Good job Cal!

em said...

wow... simply wow. I'm sure you were a little peeved at the loss, but when you're still up 5K after a 5K loss... that's pretty darn good. Congrats.

Anonymous said...

no shorting IPO, everyone was long. nice trade cal as I did not have the balls but was ready to pull trigger at open.

Yaser Anwar said...

Wow- you got in fairly quick. I got in @ 130 got out at 140 and only 100 shares.

Anonymous said...

Yaser, yeah, just as I suspected......you are slow.

Anonymous said...

Grats on the win. Focus on the trade plan for that loss...and correct it. Large % loser (?) that takes the gloss off the win. But was a nice 1st result and hate to be critical.....but you should have left it alone, happy with the 1st. Best to ya, and good luck with your future.

Cal said...

thanks for all the comments guys