Live Trading on $BSPM
Today we saw some hot momentum! I wasn’t sure what type of day it would be. The last couple of week we’ve seen a very choppy market. The good news is that last night $NFLX had a nice 18% rip and I think that helped bring the market up. The market surged up this morning and we were able to capitalize on the opportunities in the small caps. My small cap watch list wasn’t very impressive this morning. There wasn’t a lot of stocks gapping up that I was especially excited about. I said instead of trading off the watch list that I’d be watching the high of day momentum scanners. My first trade was a large position on $SPEX. I jumped in and was up over $6k but ended up closing the position with $2k in profits. It didn’t work out as well as I’d liked, but it still ended up being a solid trade.
My next trade was on $BSPM. I heard on the Benzinga Squawk that it was squeezing up and when I pulled up the chart I realized that over 4.14 it would be giving us the first green candle after the pullback from it’s last daily breakout. I decided to jump in and ride the momentum and was able to lock up a quick profit. Overall none of the trades I took today worked out as well as I would have liked, but they worked out well enough for me to generate over $3k in profits. That’s a solid day!