Warrior Trading Blog

Another +$5K Day! | Ross’ Trade Recap

Ross_6.14

What’s up everyone. All right, so here we are finishing the end of the week, Friday with another green day up $5,000. So That’s two $5,000 days in a row, which is awesome. This is my fourth consecutive green day. I Made 20 grand on Tuesday, 2,700 on Wednesday, and then 10 grand in the last two days. So that’s $32,000 in four days, which is awesome. And that’s going to put me up over $50,000 on the month and we are at the midway point.

All right, so halfway through the month, if this hot streak continues, if the momentum continues, this could be a $100,000 month. My first $100,000 month since January of 2018 so we’ll see if we can do it. It’s possible, we’ve been seeing some impressive action. Although, I’ll say today was a little disappointing. Wednesday was disappointing and today was also disappointing, not the follow through I wanted. The three stocks I traded that we’ll review during the recap, well none of them ended up really opening up or making a big move. And, and that’s kind of disappointing.

So I’m hoping that things are a little bit better on Monday. Fridays I’ve been calling wildcard Fridays, because it’s either been crazy action or just difficult. And today was a little difficult. But the reason I was able to finish with $5,000 was because of position sizing and being aggressive. So anyways, that’s it for me. I’ll be back at it first thing Monday morning, have a great weekend. Any questions? Any comments leave them below. I’ll see you guys on Monday.

All right everyone. So it’s a little past 10:30 here. So we’re going to do our midday market recap. As I said, wildcard Friday, I had expectations that today would either be a awesome day, or just kind of like a nothing day. And it ended up kind of being just a decent day, which was not really what I was expecting. I really thought it would either be everything or nothing. I took three trades, the stocks I traded, CTRV, AMPE, BNGO. Small winners on AMPE, BNGO. A decent winner on CTRV, but took larger size to get it, using, a little bit of a larger position than I probably should have.

I mean I took 9,000 shares of a $10 stock, which is a $90,000 position. But in the last couple of weeks, and seeing half CTRV yesterday went from eight to 1150, this is a stock that I have done well on. GNCA I did pretty well on, CODA yesterday I did pretty well on. JAGX I did really well on. So these higher price stocks have actually been working for me a little bit better than the lower priced stocks, in fact. Look at AMPE and BNGO within the price range, but the winners weren’t as big.

So given that that’s kind of been the trend this maybe last few weeks, I went with it and as it turns out, did the best on CTRV. So let’s look at the gap scan this morning here for a second, and we’ll kind of look over how things were looking. So I said today was wildcard Friday, because Fridays have actually been one of my best days of the week this year. Which is a little different from what is typical for me. And actually let me pull it up, pull up my trader view stats here in one second and we can actually look at them.

But while that’s loading, gap scan this morning really didn’t look that great. IGC, I’ve traded it, don’t like that stock. This is a Nasdaq test stock. This is 100 million share float. That’s a test stock. BXG, I was watching this out of the gates. I was interested but, I wasn’t totally confident. Now the reason I was interested was because this fits into that $10-$15 price range that I’ve been doing pretty well on, but the recent big drop here, combined with the news being not totally clear and the float on this being seven million shares, I just wasn’t sure.

Very light volume pre-market, and of course the bell rang. It ended up dropping down to $10.10, surging back up here to $10.95. I saw some of you guys took that one minute red to green setup, which is buying the first candle to make a new high and that did work, but I didn’t feel comfortable going for it. There wasn’t enough volume, it just didn’t quite match what I look for. So I passed on that one. This floats too high, floats too high, floats too high, floats too high.

So that was pretty much the extent of the gap scan. But I was watching CTRV. And the reason I was watching it was because yesterday, it had this big move right between three and four o’clock. Now the funny thing about this move, was that they put out a headline that they were withdrawing their secondary offering application or whatever it’s called. It’s a form, the S1 form, and so people are like, whoa. They put up this sort of secondary offering notice and now they’re taking it away. Hey, maybe this thing is going to come out with news and it’s going to really open up. And I was looking at that and thinking, jeez, this is interesting.

You know, I wonder what it’s going to do tomorrow. And then they put out the news that they withdrew it by accident. So they were withdrawing the withdrawal, and then the stock came back down to eight bucks. Now this morning, this did a really nice red to green move. I mean it pulled back right here at 8.73, and ripped up right here to 10.66. The circuit breaker halt was at 10.66, and I bought for the break right here of 10. I tried to add right up here for the break of 10.50, and I got rejected because I already had full sized position.

I got a partial fill on one of the entries. And so what happens when you have, let’s say you have your max position size at 9,001 share like this, if you take a … that’s three 3000 share orders, you know, okay, fine. But if you get a partial fill of like 2,700 shares, and then 3000, and 3000 you might be like oh man, I don’t have quite 9,000, I want to go up to full size. You press that hot key one more time. Well, it’s going to be rejected, because 8,700 shares plus 3000, it’s going to put you over the level. And I had brought my share size down from 12,000 shares down to a 9,000 today, because I wanted to finish up the week strong and not risk having a screw up.

Now I ended up lifting that and going up to 15,000 shares on AMPE, but that’s because this is a cheap stock, and so I was okay with going up on it. So anyways, I add here at for the break of 10, I tried to add a 10.50. It goes up to circuit breaker halt 10.66. It looks like it’s about to get halted, and I’m thinking this is going to be, this is exactly what we want, break of 11.50 on the daily chart.

That should give us a move up to 14.65, break of 14.65 next resistance, 15.75. So the real critical spot was 11.50, and then it does a false halt. It looks like it was about to get halted at 10.66, and then it drops down. And as soon as it dropped down, control x control x, sold half sold half. Because I just felt like, I’m in this with big position.

A false halt, sometimes will dip down, and then surge back up. But on this one I wasn’t sure and I knew that I got in high. Now if I got in here for the red to green move and I had a really good entry, I probably wouldn’t have sold half, I would’ve held. And someone asked me earlier today, when you see a false halt, when do you go ahead and just hit the bid and bail out? And when do you hold through it and see if it’ll, you know, retrace or make a second attempt?

And the answer is, it depends on what my cost basis is. If I’m in from a good entry and I’ve already got a big cushion, I’ll hold through the pull back, no problem. But if I’m in right underneath the breakout spot, or I’m in at a little too high the way I might’ve been on CTRV, I’m going to get out quickly. Because the risk of it dropping down. And that’s what happened on this one, is that I could go from being up 60 cents per share to down 60 cents per share. So you know in that moment there are times where I’ve done the wrong thing and I’ve held through the bottom of a pullback. And then there’s other times like today where I was quick to press control x control x, sell half, sell half.

I don’t do control Z on full position. Usually when I’m still in full position, because I don’t want to hit the bid with 9,000 shares or 8,700 or whatever it is. I usually will do control x twice or even three times. So bailed out, ended up getting about 30 cents of profit or so, 40 cents of profit per share, which was not bad. Drops down, I was still holding a partial position, actually on the drop down here to $9, I think it was nine, and then it pops back up and I sold the rest as it came back up at, I don’t know, on the ask around whatever, somewhere in this area.

So I did give back a little bit off the top on this one. But overall considering the share size, I managed the risk well. And that’s the interesting thing with trading with larger share size, as you increase share size, sometimes you do start trading differently. And sometimes that’s a good thing, sometimes it’s bad thing. With bigger share size, sometimes I am quicker to take profit off the table. And that means earlier in the week, you know, we had a couple stocks that made huge moves, and I took profit off the table way too soon. And I was a little disappointed that I didn’t fully capitalize on the move. But then today’s a day where that same approach ended up maybe preventing a big loss. So at the end of the day it probably all balances out.

And for me, when I set the expectation that I’m not going to trade anything with less than 6,000 or 9,000 shares, it means that my threshold for quality is a lot higher. So that was CTRV. BNGO squeezed up and got halted at 3.50 right here, 3.56. I wasn’t in it before the halt. It resumes from the halt, dips down for a second to four, and then surges up, and I got in at 4.15 and 4.21, looking for that to break over the highs.

It squeezed up and got halted at 4.68. Not a false halt, it halted, and I held into the halt. It then resumes at the same price of 4.68, drops to 4.21, and gets halted going back down, and I’m still holding a 1700 shares. So I sold. As it was dropping, I was like, well better hit the bid. So I hit the bed, bailed out, was still holding some into the halt. It resumes here. I sell all but 600 shares in the 3.90s, it then halts going down a second time. It then halts going down a third time. I sold my remaining 577 shares right here at 3.05. I only made $485, and this was a very disappointing trade.

Now what I liked on the stock was, that it was halted going up once, which is great. It resumed higher, which is a good indicator that it could halt a second time, which it did and resume higher a second time. This is the highest volume day that it has ever had, as you can see. The last time I had a high volume day it squeezed up about 50%. And I looked and thought that the volume would be higher today, which would mean maybe it could move more than 50% today.

6.24 daily resistance, then 7.98, all time highs of $10. The news this morning is that they’re going to present results from key clinical studies at this conference in Sweden. Presumably this is buy the rumor, sell the news. We don’t know the results of the clinical trial or the clinical studies, but presumably they’re going to present good news. So this is sad because it really, I think had some good potential to be the one stock today that would be just explosive, and that was just not the case.

They halted three times in a row coming back down. It gave back the entire game. So the only people that really made money on it, are the people that bought down here, or maybe were holding from yesterday or something. And that wasn’t me. I bought high, tried to, you know, with the thought of selling higher. Didn’t really happen, so bummer on that one. And I wouldn’t have held through three halts going down except that I switched gears and focused on AMPE, which halted twice going up, and almost a third time here at $1.31. I bought AMPE at $1, let’s see, $1.19. Actually, I was pretty aggressive on this. I bought 15,000 shares of it. I increased my share size, dollar 19, 18 and 20. Interestingly, I’m filling two cents or three cents, three at three different prices, all at the same exact timestamp.

So the way I do it, I type in ZVZZT, this is the Nasdaq test stock. So I’ll say okay, I want to get in here, and I’ll either press shift one, just like that up to 9,000 shares. So those are all in the same … actually, well those are in two timestamps, but that’s usually how I do it. So control x, control x, control x, control x, selling half, selling half. So again, we’ll try it again. One, two, three. So one, two, three all in the same time stamp and then selling. This is a test stock, so it’s not going to count on my P&L.

So that’s what I did on AMPE. Boom, boom, boom, jumped in. Three different prices moving fast. Added for what I thought was going to be a squeeze into a circuit breaker halt at 31. If it had halted, almost definitely the stock would have tapped $1.50. And I would have been holding 15,000 shares, and maybe gotten a nice 25 cent win on that, which would have been about $4,500. So back of mind potential, $4,500, worst case scenario, I would’ve stopped out at $1.20, and locked up and have a small loss of about a $500. So risking 500 to make 4,500 is great risk reward, but it did a false halt. And as soon as it did that false halt, I bailed out, I hit the bid.

And so hitting the bid, I got out of the position and made 5 cents per share. So a small win there. But you know, the big winner today was on CTRV, and that one … honestly, none of the stocks I traded today really worked out super well. But the profits were the result of taking larger share sizes, and taking profit relatively quickly. What kept me green today, is the same thing that capped my profits on Monday, and on Tuesday. So and on Wednesday.

So you know, at the end of the day I sometimes ask myself, Gosh, you know, you have these big moves like IMRN. Not that this one ended up holding its level super well, but it did, nonetheless squeeze from $3, all the way up to a high of $6.50. And I really didn’t capitalize on it very well, which was disappointing. So you know, you sometimes you have these ones that just go crazy, and we’ve had so many of them recently. And then other times, you have a day like today, where everything you jump into just, really doesn’t open up, doesn’t give us that big move.

Wildcard Friday. It’s either big green, or a little tricky. And so you can see that today, if any of these three stocks had really opened up, easily would have been another $10,000 or $17,000 green day like I had last Friday, and the Friday before. So I’m going to mark the calendar, up $5,000 today, almost the same as yesterday. That’s going to put me up, let’s see, right around $52,000, $51,000 on the month. And we’re halfway through. On track for $100,000 month, if the momentum continues.

All right, so I’ll be back at it first thing on Monday morning. Hopefully will have a strong start to the week, can make some money, build a cushion, and keep this hot streak alive.

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