RPTP-played this one several days back when it was under 5 from @investorslive watchlist. Now it looks like it may be setting up again for the same type of move…just a dollar higher. I’d like to see a weak open for an easy r/g play, the 5d, however, looks like it might be setting up for a pop at the open. This also has options so I might try some calls if it does do a red open.
MDMN-I held this overnight and sold a few minutes in the open after it looked like it wasn’t gonna go any higher (bought .159 avg sold .166). Though it pulled back from the morning pop it still closed green and never went red during the day…0.16 looked like it held pretty well. Gonna watch this for a weak open as well. No options so this would be a straight trade if it sets up right. Supports at .16 and .15. Target for it to test .19 IF IT SETS UP RIGHT.
LEMHQ-this was inching in the afternoon with what looked like support at .07ish…bought some at .074 thinking it had support…but was wrong. Didn’t get to cut it loose before I went back to work and every bounce up, I’ll admit it, I thought it was going to come back so I held instead of being smart and selling into that dead cat bounce. Going to let this go in the morning, hopefully before everyone else does.
The puts I have (OPTR, REDF, YONG, CIS) are still looking good—they were better in the morning/mid-day than at the close but futures so far (1043pm ET) have climbed down from the close so I’m thinking tomorrow will be a better day for short positions.
Follow the rules: Cut losses quickly; Don't overtrade; Take profits/sell into strength; Don't chase, watch for the pullback; Have a plan and stick to it
View my other posts/give me some advice at http://part-timepennystocktrader.blogspot.com/. Follow me on twitter @BNGESG.
MDMN-I held this overnight and sold a few minutes in the open after it looked like it wasn’t gonna go any higher (bought .159 avg sold .166). Though it pulled back from the morning pop it still closed green and never went red during the day…0.16 looked like it held pretty well. Gonna watch this for a weak open as well. No options so this would be a straight trade if it sets up right. Supports at .16 and .15. Target for it to test .19 IF IT SETS UP RIGHT.
LEMHQ-this was inching in the afternoon with what looked like support at .07ish…bought some at .074 thinking it had support…but was wrong. Didn’t get to cut it loose before I went back to work and every bounce up, I’ll admit it, I thought it was going to come back so I held instead of being smart and selling into that dead cat bounce. Going to let this go in the morning, hopefully before everyone else does.
The puts I have (OPTR, REDF, YONG, CIS) are still looking good—they were better in the morning/mid-day than at the close but futures so far (1043pm ET) have climbed down from the close so I’m thinking tomorrow will be a better day for short positions.
Follow the rules: Cut losses quickly; Don't overtrade; Take profits/sell into strength; Don't chase, watch for the pullback; Have a plan and stick to it
View my other posts/give me some advice at http://part-timepennystocktrader.blogspot.com/. Follow me on twitter @BNGESG.
