Morning Watchlist: BA RMBS NVS HXL PCS PCP CF PKI
Another positive day. I am so glad I have finally gotten into the habit of trading with real money everyday. I’m such a creature of routine and there is no reason I can’t get at least get an hour in a day despite my other responsibilities. The main growing pain is learning to plan my work so I get things done ahead of time enough to always feel like I have time to devote to the markets every morning. I think my trading skills will increase exponentially with the CONSISTENT live real-time trading experience.
I hope to start detailing my rationale for each trade more thoroughly each day to help me retain the lessons learned.
| Stock | Shares | Side | Gross | Fee | Net | Set-Up | TRUE |
| NVS | 400 | Flip | -6 | -6.16 | -12.16 | ORL – flip | No |
| PCP | 200 | Long | 26 | -2.56 | 23.44 | ORH B-out | Yes |
| HXL | 200 | Short | 22 | -2.7 | 19.3 | ORL B-down | Yes |
| $30.58 |
I longed NVS above $42, looking for a bounce off of the whole number under the Opening Range Low. This looked like a solid support area with prices late last week. I accidentally exited half right away putting in my stop order (placed a limit sell order instead). The half position of the stock started to sputter and I anticipated a fail at $42, and flipped short by selling 200 shares. However, supply came in strong right at $42 and price bounced. I averaged in, and NVS flirted with under $42 for a short bit, and I manually exited to keep my losses low as I had no idea where the stock was heading….currently continuing to float just above $42.
Hesitated on PCP at $74.20 with volume and momo candles, and it ran up to ORH without me. I longed on a pullback to $74.50, and entered the rest at $74.55. I exited half near ORH, and the remaining was stopped out at $74.50 to cut into the trade’s profits. This stock really brokeout more around lunch. Re-entering this stock long when it sold off under $74.40 would of really paid out at this juncture with a more than $1 move from there.
I shorted HXL at $9.03 which was ORL as well. I moved my stop very tight around $8.90ish and tool a small profit on the trade, in part because I had to move on to work and partly because of impatience.
