Roller Coaster while I was sleeping!!!!!!
I wasn't feeling well, and thats where you can get into trouble swing trading - well, let's be clear - swing trading volatile OTC small caps like MDDD.
I bought it 2 days ago at $1.65. Today it appears it shot above $3. Hung out there for a while, then plummeted. When I woke up the price was $1.30. Now, would that kill me? No, because I don't put large amounts of my acct into any individual stock, and I had also sold 1/3 already. But! It's still so painful to look at (-21.2% loss - ouch!!!) And, as one trader I used to follow used to say, "I don't like pain". Now, the key here though is also not to react too quickly. I wanted out immediately, but I took a look at the chart, and it seemed like some bounce was in order. I watched a few trades go thru, and they were all over the place... 1.30, 1.45, 1.30, 1.55. So, I tested the waters, not too greedy, but tried to get my money back with a limit at 1.70. It went thru almost immediately, then the price was back down to 1.30 again. This tells me there are still a lot of people who want the stock, but it seems like the action is too sketchy. So, I'll stay away from that one, but I have a feeling that since it was hard to buy and easy to sell, it could really run.
So cutting losses short:
Sold last 2/3 MDDD (in 1.65, out 1.70) 3.03% gain
Sold last 1/2 BCRX (in 8.50, out 10.95) 28.82% gain
Tale of the rest of the tape:
AAPL 13.50 %
ARWR 42.55 %
BTN -0.59 %
CPST 18.84 %
CTIC 49.02 %
FB 15.00 %
GTI 9.09 %
HA 7.14 %
JOEZ -2.42 %
MERU 15.38 %
RIC 1.56 %
SPCB 24.34 %
ZNGA 10.35 %
so - I want to cut losses short on BTN (I have an order up) and JOEZ - but both charts look like they still have potential. So, I'm giving them one more day (provided BTN isn't triggered). JOEZ chart still looks like it can pop, but, my loss is already 2.5% so I'm going to have to pull the trigger quickly if it gets worse.
Again, OTC was pretty nuts on that MDDD - what's even weirder is that I don't even see a bid or ask on this platform for it.
Again again, anyone else out there swing trading? The cool thing about it is, if you need to go on vacation (or if the market starts diving) you just close everything out.