CCO

I could have got out with a nice gain (~12%) but instead I’m out with this 2.6% loss on CCO. When doing this sort of short term swing trading it’s all about timing and my timing was very bad on this trade.

PRGN 

Eh. I lost a decent amount of money on this one.

I’m Out

I’m leaving the stock market for awhile. I want to get out while I’m still up. I’m still up about $3000 for the year but things just aren’t going my way anymore and I hate how much time I spend looking at stocks and all of the rest. It doesn’t feel very productive. And it feels really unproductive when I’m losing money like I have been recently.

CENX is only up 1% today but it’s passing through it’s 10 day SMA and what this means is I’m getting it at a very good entry price if it does take off. It also seems to have a lot of support and it’s big resistance point is at $8 which would be a very nice gain.

As you can see I’ve bought 3 different stocks today - What I’m trying to do now since I’m trading on margin is to make more trades with smaller positions in each so that I minimize the risk I’m taking on any particular stock. When trading on margin losses can be much more destructive. On double margin a 50% loss wipes me out. And more realistically a 12.5% loss turns into a 25% loss which is much more painful.

And since SogoTrade only charges $3 per trade it doesn’t hurt so much to make more trades with smaller positions and since I’m trading on margin, my smaller positions can still help me make big gains.

Going forward I would like to split my account into 2 or 3 positions and then possibly 4 or 5 positions as I have more money to work with (being very hopeful there…)

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BTW I have three sub $5 stocks on my screener right now (I can’t play these because of SogoTrades $5 min for margin trades.)

OCNF - $1.84
COIN - $1.70
KFN - $1.39

I can only buy stocks over $5 using margin with SogoTrade so I jumped on CCO as it went over $5 as it’s been going up all day. It’s already up about $1.50 / 40% and I usually stay away from stocks with that kind of gain, but from what I’ve been learning following Tim Sykes - I think that may be a mistake. Perhaps it’s better to jump on on these rockets as they’re going up instead.

I do feel a bit bad for buying stock that has anything to do with Clear Channel because I despise them. But I am just going to buy and sell it of course so… whatever!

I bought PRGN @ $5.80 on double margin using over half of my total account’s value. It appears to have resistance at about $6 so I’m hoping it can break through that and give me a huge pop.

Of course I know you’re not supposed to play on “hope” - Timothy Sykes advises to play after it’s already broke through but I haven’t quite got that timing down. I guess I’m still trying to get better entry prices.

I’ve also been considering STI @ $15.10 but I don’t think I’m going to pull the trigger on it. I like the volume pop but it looks too much like it could drop back down considerably as well. Too much risk, especially when on margin.

SLG went as high as $26.47 before sliding back down to the $24.60s region. It went up before the close and I sold it at $25.08 because I think it’ll probably drop tomorrow. The overall trend is still going up and if I was a longer term “investor” I’d probably hold it. But I’m more interested in looking for my “pop” and then getting out when the stock shows weakness. I got my pop today so I’ll be looking for another stock to play tomorrow.

It would have been nice to sell it for the 15% gain I was holding at one point today, but I’ll take a 9% gain in less than one week. Not bad.