Watchlist: SNDK FLIR EBAY FST ANN FFIV CELG WLT RS TMO VMW MCO
| Stock | # / Side |
Gross | Fee | Net | Set-Up | Actual |
| WLT | 200 / L | 64 | -2.92 | 61.08 | ORH-BO | ORH-BO |
| VMW | 200 / S | -24 | -2.83 | -26.83 | ORL-BD | Bot Bou |
| CELG | 200 / L | -45 | -2.94 | -47.94 | ORH-BO | Mixed |
| -$13.69 |
VMW was my first trade of the day. A bottom bounce was more possible than I anticipated given the opening range low ($33) was a longer term resistance level on a daily chart and the stock gapped up over that on a day with more stocks breaking out than breaking down, and a robust number of stocks with opening gap ups.
WLT was a nice trade in which I followed my rules and let run; however, when it reached my price target of $46.50, it failed big time, dropping a half buck in 3 minutes; so I lost $20 in profit but it could of been much worse. WLT, as I write right now – is really breaking out above $46.75.
I thought about calling it a day here after my couple days of losses but went for one more trade.
CELG – This was a nice stock to day trade with a wide range, but my long entry was trying to pick a bottom just above $54.50. None of the other pullbacks today were this severe, and when it cracked the half buck mark, there was panic all around. It moved so fast my stop order was not hit so I had to manually exit but not before giving it a minute or two to see if would bounce a bit, and it didn’t – erasing all my profits from WLT in one swoop.
Today was a success in that my risk management measures are preventing me from having a blow out gain, but disappointing because I went from like being up like $65 to dropping to $15 in the red very quickly!
