I did have an early morning scalp on one of my favorite energy stocks: Peabody Energy Corp. (BTU). Oil was getting a nice pop in price and of course all the oils were treading higher. The trade netted $0.30 cents and the share size was 1,000 shares.
I was spooked out of the trade after the economic data was released that trade balance was lower than consensus and their was an immediate drop in the DOW. You can see the slight drop after the sell of the trade (where the red line is).
Gross Profit: $300
On to business: Amazon.com (AMZN)
After reporting earnings CSCO popped up nicely hinting for a higher open of the NASDAQ on yesterday's opening, which ultimately leads to higher tech stock prices. AMAZON, however, was exceptionally weak, and I was trying to cash in. I missed my mark.
1. Sold Short: $39.51
2. Initial Stop: $39.59
3. Stopped Out: $39.59
Risk: $0.09 cents
Share Size: 2300
Gross Loss: $207
*If closed at the end of the day the trade would have netted:
P/L: $1,748.00!
Gain: $0.76 cents
12:1 risk/reward (12R for you homegamers!)
Let's not even talk about the Akamai (AKAM) trade that I missed.
4 Points!
HighChartPatterns, also pointed out in his nightly newsletter, he was 1 hair short of pulling the trigger as well. Those guys are some of the most uniformed traders there are. Great stock analysis, overall awareness of market conditions with multiple guys monitoring sectors at any given point during the day. Check them out!
Yours Truly,
CalTrader
1 comment:
what time frames do u trade on on 15min?
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