AM Trading: Opening P&L +$750.00, Ending P&L $450.00. Roughly a 30% retrace from my high
Pre market and opening bell proved fruitful. BBY beat and guided higher. We shorted the emotional low vol candle on the headline for some nice scalps for a quick .75c i the pre market. My high P&L was up $750.0 at 9:40 am. The market tested your discipline as my P$L went negative as the AM wore through lunch. Higher Highs on th SP through the 1120 level stopped out any and all shorts.
PM trading: Ending P&L -$750
PM trading was as tough for me. I flipped long a few stocks, had a profitable trade in STI on a buyout rumor and a pre announcement that ended failing. (remember we are in pre announcement season). I ended closing out at 4:00 pm at my low P&L of -$750.00. A frustrating swing as I was stopped on most shorts earlier
Post Market Trading: Ending P&L +$250.00 (See screen shot below) Roller coaster day for me.
There were 3 trade-able events that proved profitable as I made about $1000.00 in the post market by 5:00pm. Not a bad recovery.
- MA I made a few dollars in on a board approved buyback. In 201, out 203 - 204
- NBIX capitulated on a headline at the round level 5, before bouncing back a buck to over 6. This was y big winner.
- AU announced a convertible bond and a equity offering. This was a double whammy that trended the stock lower all post market long till the close.
Glad I was clear headed, but in hynsight up $750 in th am needed to respect a trailing P&L stop loss considering the choppy lite volume market environment. I had stopped at up $450, and continued tradng against my better judgment which ended which ended with a failed weak argument. See the Screen shot below, The only real mistake was letting a positive trade in BY go Negative
"Quote off he day, practice what you preach" Jim Kelleher". Thanks For checking.... Tim.
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