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Thank you! I took off the majority for BGFV when my trade was up around 11-12% and moved my stop to break even. My original stop was 6-7%. I wanted to be cautious so it was pretty good risk/reward for me. I'm tempted to close it out but I'm just going to let it play out.
That stock is acting great! One option you can do is use the low of the previous day as your stop and keep raising it each day. Stocks that make these power moves rarely undercut the previous day, but that's only if you are ready to sell it and don't want to go through a pullback.
I just bought SIVB at 597. I'm watching STLD and REZI. Update, bought half a position in STLD , so I can use today's low with minimal risk. Catching the bounce off the 20 day.
CURO had made a decent run from 13 to 15 just before. I still have mine and am waiting for harvest.
Compounding bad trade theme continues for me today. Doubling down on IRBT. Stock is getting a spanking because the CFO played it safe and Wall Street promptly adjusted the valuation. Should be an easy beat later.
Had some junk bonds convert into new VAL shares for pennies on the dollar. Bought some shares to get it to an even 100. New Board. Considering the company used to have a book value of $14B in assets, the new $1B company should be able to pull up some decent results even though it's oil ops. Total gamble though.
Bought 100 of ARMK. First time with this issue. Dry cleaning revenues are rocketing back up at the wife's store as people are finally going back to work in person. This is my bet on a winner from that activity.
CURO just keeps moving up every day; closed at 17.95 today. Katapult SPAC vote is on Monday!.
Bought gld
Order Number F03QJHLX
Status Filled at $174.8811
Total Price Improvement $5.07
Symbol GLD
Description SPDR GOLD TR GOLD SHS
Action Buy
Quantity 573 Shares
Route
FDLM
Order Type Market
Time in Force Day
Conditions None
Trade Type Cash
Market Session Standard
Order Date 06/03/2021, 09:56:34 AM ET
That stock is acting great! One option you can do is use the low of the previous day as your stop and keep raising it each day. Stocks that make these power moves rarely undercut the previous day, but that's only if you are ready to sell it and don't want to go through a pullback.
I just bought SIVB at 597. I'm watching STLD and REZI. Update, bought half a position in STLD , so I can use today's low with minimal risk. Catching the bounce off the 20 day.
Hah, wow, talk about a squat! I'm glad I took some profit. REZI is looking pretty good, almost 4% away from ATH. It looks like it kind of ran up from 5/19 so I hope it can drift sideways for a bit before popping out.
I was thinking of JOAN yesterday but it's a newer IPO and I thought maybe it was trying to make a channel? I'm surprised to see it pop today and into after hours. I'm going to keep an eye on this for a future potential entry. RS looks like it's trending higher on TV.
I'm a bit short on time today so I just did a quick scan from the sectors. The only one I like right now is CVS if it can get above 87.32 with a 2.5% stop at 85.16. 5/3 was the ideal entry and I was watching it then but I didn't think it could move like that. It's a bit extended from the 8EMA on the Weekly though but there could be some more upside. I hear this one has really good fundamentals.
Hah, wow, talk about a squat! I'm glad I took some profit. REZI is looking pretty good, almost 4% away from ATH. It looks like it kind of ran up from 5/19 so I hope it can drift sideways for a bit before popping out.
I was thinking of JOAN yesterday but it's a newer IPO and I thought maybe it was trying to make a channel? I'm surprised to see it pop today and into after hours. I'm going to keep an eye on this for a future potential entry. RS looks like it's trending higher on TV.
I'm a bit short on time today so I just did a quick scan from the sectors. The only one I like right now is CVS if it can get above 87.32 with a 2.5% stop at 85.16. 5/3 was the ideal entry and I was watching it then but I didn't think it could move like that. It's a bit extended from the 8EMA on the Weekly though but there could be some more upside. I hear this one has really good fundamentals.
lol yeah that is one squat for sure! REZI is on my short-list too. Strong close today. This will be one I will most likely buy if it breaks out. I'll keep an eye out for JOAN to form a base. CVS formed a nice pivot back in April, but this is a pretty slow moving stock. It looks like its been flying, but that move is only like 13% or so. Looks like it turned into a fresh stage 2 though. RS rating of 71.
Bought gld
Order Number F03QJHLX
Status Filled at $174.8811
Total Price Improvement $5.07
Symbol GLD
Description SPDR GOLD TR GOLD SHS
Action Buy
Quantity 573 Shares
Route
FDLM
Order Type Market
Time in Force Day
Conditions None
Trade Type Cash
Market Session Standard
Order Date 06/03/2021, 09:56:34 AM ET
sold gld today for a gain
F04NQWWH
Status Filled at $176.8018
Symbol GLD
Description SPDR GOLD TR GOLD SHS
Action Sell
Quantity 573 Shares
Route
FDLM
Order Type Market
Time in Force Day
Conditions None
Trade Type Cash
Market Session Standard
Order Date 06/04/2021, 09:33:51 AM ET
I just sold COUR at 39.26. Basically b/e, cost basis was 39.02 I believe. Most of my down stocks today are on tiny volume, but today's volume with COUR is almost double yesterday's. I'm not recommending to sell it, but I have too many stocks, so I'm narrowing down weak ones that are around my b/e.
I bought a half position in HVT and if the market doesn't squat into the close, I'll buy the other half. RS rating of 94, RS is trending up, up days on bigger volume than down days, fairly tight right side formed, good fundamentals (even though I find this furniture ugly as ****).
I just sold COUR at 39.26. Basically b/e, cost basis was 39.02 I believe. Most of my down stocks today are on tiny volume, but today's volume with COUR is almost double yesterday's. I'm not recommending to sell it, but I have too many stocks, so I'm narrowing down weak ones that are around my b/e.
I bought a half position in HVT and if the market doesn't squat into the close, I'll buy the other half. RS rating of 94, RS is trending up, up days on bigger volume than down days, fairly tight right side formed, good fundamentals (even though I find this furniture ugly as ****).
BNTX and BAK taking off =)
I thought about selling COUR this morning because it seems like it's stuck in a range. I wanted to practice getting stopped out so I still haven't sold yet. I didn't even consider the volume. Good point.
HVT looks pretty good. lol I've never heard of them before. Their furniture looks pretty basic. Kind of outdated.
I think I got in BAK too early on 5/17. I thought it was a wedge pop but I got stopped out on 5/19 and forgot about it after that. I'm seeing how I had the analysis wrong now. I don't know why I didn't get into BNTX as I watched it break out. I was hoping to see more volume. RS looks really good though.
Pretty slow day for me. I just got REZI at 31.74 and IT at 236.27. I might have gotten into that one too early but I don't mind the price action today.
I thought about selling COUR this morning because it seems like it's stuck in a range. I wanted to practice getting stopped out so I still haven't sold yet. I didn't even consider the volume. Good point.
HVT looks pretty good. lol I've never heard of them before. Their furniture looks pretty basic. Kind of outdated.
I think I got in BAK too early on 5/17. I thought it was a wedge pop but I got stopped out on 5/19 and forgot about it after that. I'm seeing how I had the analysis wrong now. I don't know why I didn't get into BNTX as I watched it break out. I was hoping to see more volume. RS looks really good though.
Pretty slow day for me. I just got REZI at 31.74 and IT at 236.27. I might have gotten into that one too early but I don't mind the price action today.
I think COUR will be fine. It recovered into closing. I’m trying to consolidate the number of positions I have, so it was just one of the weaker ones that I could exit at b/e, so it’s fine you still have it.
They are in Florida I know, I looked once and it’s your typical furniture you’d find in a typical house, outdated and ugly indeed haha, but most people only care about functionality and don’t have an eye for design lol.
I like patterns like BNTX, I got in the day before Jack got in. I was really really tempted to get into REZI today, but didn’t pull the trigger on it because I didn’t have a good feeling on where to place a stop loss. If it tightens up a couple days, I’d buy it for sure on a breakout. I was also looking at IT because I saw it from Jack, but the weekly chart looks really extended and based on previous behavior looks like it could drift awhile before doing anything.
I think COUR will be fine. It recovered into closing. I’m trying to consolidate the number of positions I have, so it was just one of the weaker ones that I could exit at b/e, so it’s fine you still have it.
They are in Florida I know, I looked once and it’s your typical furniture you’d find in a typical house, outdated and ugly indeed haha, but most people only care about functionality and don’t have an eye for design lol.
I like patterns like BNTX, I got in the day before Jack got in. I was really really tempted to get into REZI today, but didn’t pull the trigger on it because I didn’t have a good feeling on where to place a stop loss. If it tightens up a couple days, I’d buy it for sure on a breakout. I was also looking at IT because I saw it from Jack, but the weekly chart looks really extended and based on previous behavior looks like it could drift awhile before doing anything.
I did see that the Weekly for IT looked extended but it's not far from all-time highs. I have a tight stop at 3% and the base is about a month long now so I'm fine with holding on and seeing what happens.
I didn't write it in my rules but I have noticed that trades generally do tend to work better if the Weekly is bouncing off a MA. Maybe I should make this a rule if the SPY isn't acting so great or if I have to be more cautious for whatever reason.
For REZI I put my stop at 29.42 just below yesterday's low. There's no bottom wick for today. Does that generally mean anything?
What do you think about ZBRA btw? The structure looks decent but it seems like the bearish volume tends to be higher than the bullish volume in this latest base.
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