Well what a week it has been. I am officially on Spring Break, which will give me a break from my classes which I desperately needed. This week was an great week in Markets.There was no insane parabolic move like $BPTH presented,but there is still gifts from the Markets. Below I will discuss the plays that were in play along with my trades for the week. In addition to the recap, I will providing video lessons above. Enjoy!
I will begin with $AKTX. A press release was issued about their current clinical trails which I'll post HERE. I am not going to get into the detail about the press release. I couldn't care less in my opinion,but what I do focus my attention too is the Reaction. Prices move before fundamentals. I did not trade the Morning action simply because I slept in. Yes I am human. Don't worry if you miss a day in the Markets sometime life does get in the way. A great thing that Tim Sykes has ingrained in my head that You don't have to be a prisoner. Trading allows you work form anywhere in the World, of course Internet is required. Moving on, Since I woke up late that does not mean I can't trade. With platforms such as stockstotrade it fairly simple to recognize the hottest plays. I noticed that $AKTX was the biggest percent gainer on the day, along with others. I did not trade this ticker until 30 minutes before Market close. I noticed that it was fading into the Market close, and my GUT told me too Short. So I did not hesitate to hit the bid, of course I had a predefined risk point. I was net Short 400 shares @ $6.27 went a .23 cent risk of $6.50. Meaning that if my risk was hit I would take a 100 dollar loss. I knew the odds of this pattern, late fade fade which results ideally into a morning panic. Looks like my 9 months of studying has been paying off, because I was dead on too a fucking tee. We got that panic, and I write this $AKTX is the biggest percent looser on the day. I took my profits when the Level 2 told me too. If I had held the entire position I would be up roughly 800 dollars. It's OK I am not upset I took home a check. People always ask how you make $1000 dollars a day, which is the wrong question. Rather you should be asking how do I take something away from the Market. It does not matter the dollar amount in the beginning stages of your journey, focus on the bigger picture. Tell yourself let me bring home $100 dollars, or some dollar value that is realistic in comparison with your Account size. Simply if you can't grow a Small Account what makes you think you can grow a large account. You simply can't. I locked in my profits of $326. In hindsight I could of shorted the bounce which would have been another great play. $AKTX was a great lesson the Market gave me. For additional information make sure to checkout the recap below.
As well we has some recent runners such as $RKDA $TNXP $SFET and $BIOC which all offered excellent opportunities. In my opinion I prefer the short side on these tickers, since I've tracked them before and the odds don't favor them. Most notably $SFET was an excellent opportunity on the Short-side. $SFET has acted as a friend to me over the past months. Every time it pops on radar it hands me money. They issue a similar Press Release and the same price action follows. Of course there is some variation, but the end result is the same. Unfortunately the day $SFET ran I failed to wake up, so I take responsibility. In addition $TNXP was a recent spikier that was on radar, which does to have a great history of holding its gains. In similar $TNXP has been great to me one the past months most notably on the short-side. It offered an ideal short into major resistance, and the reward would have plenty. Lastly $RKDA and $BIOC are both former runners that have gone supernova in the past. Both offered once again opportunities, both on the long and short. $RKDA had a positive press release but faded all day which is no surprise. $BIOC has been running the entire week, but why not end it on an Offering. Which is what $BIOC concluded too. They unitized the price action and conduced $8.2M registered direct offering.
As well $ACB I caught some of the action on this ticker. This is a much larger-cap stock which typically I don't trade unless it fits certain criteria. This one had news of a Billionaire investor taking a stake of the company, which created a buzz around the company. There was a strong reaction in the price action, but as I have mentioned this was a much larger cap. The larger the cap the less volatile is usually is, because the amount of shares in the float. But I did not ignore the great chart pattern. I simply bought the breakout over the day high, I sold into strength. An overall profit of $160. Watch the recap below.
This is a huge surprise, The Market handed me an absolute beauty as I was writing the blog. I am up roughly $600 on $SLN. Its absolutely amazing. Similar price action to $AKTX fade into the market close. I shorted in anticipation of a late day panic, and that is what I fucking got. I was not looking for a trade, once again I let the trade come to me. I did not trade $SLNO the entire day, until I recognized a familiar pattern to me. Once again everyone will be different. There is no reason to cover my short. I expect a gap down as $AKTX did, If not I will still lock in profit. Same Fucking Pattern, yet many don't realize it. Refer to video Lesson Below. :)
Update: I hope y'all had a great week. Remember that everyday is an new opportunity, take advantage of that. Trading has been going well. I am onto too something great. Spring Break has arrived so I'll have roughly one week free. Although I will be busy doing various things. I'll see you next week.