9:45am Gapper Watch List: FCX BBL AU FRO SSRI CSIQ PAAS WRE WAG FEED AAUK SOL TTI AUY
Didn’t get my run in or a weekend analysis of my trades last week, but did eat and sleep better. Today you could of shorted at open and made money. 10 of the 14 stocks above broke down below their opening ranges. All three of my trades were nice shorts but I either hesitated on entry, exited too quickly, or my stop was too tight. However, after so many losing days with my prop account, I will take a small daily winner to bring me green 4 out of the last 6 days, and essentially break even on the month of June in terms of trades and commissions. Need to win small before you can win big I guess. My goal right now is to get live real trading experience everyday without eating up my capital, more than it is to rack up profits.
| Stock | Side | Shares | Gross | Fee | Net | Notes |
| AU | S | 200 | -24 | -3.36 | -27.36 | Blew thru stop |
| FCX | S | 200 | 48 | -2.4 | 45.6 | Hesitated too much |
| BBL | S | 200 | 7 | -2.89 | 4.11 | Played tight |
| $ 22.35 | ||||||
FCX was the play of the day. I did not enter short at $48 and again at $47.50 – not hitting start on my orders – but finally sold short at $47. With 17 million average volume with a over $3 average daily range, a nice stock to play today now trading around $46.50. BBL if I had kept my initial stop would of been nice but it brokedown a little and I moved my stop tighter to not let a winner turn into a loser. It went up to $45 (my stop was a couple pennies above that) and it’s now at $44.20. AU similar pattern with my stop was at the same place but just above $36 – it didn’t get executed so I manually exited around $36.04 (with a high of just a little higher at $36.12 ~ now at $35.50ish).
I think the next step for letting my winners run is taking my partial 50% position profits at where I’m typically taking my remaining profits, and then let things go from there.
