Wednesday, February 12, 2014

Still feeling it

Good morning folks ,
Love can stir up all kinds of emotions, some good, some bad.  Emotions can make people crazy. They can make people happy, sad, angry,>>>>>>   irrational.

Its no different in trading. Sometimes people fall in love with a stock. This can be a major mistake and one you want to try and avoid. The stock is nothing more than a vehicle to help you increase the size of your portfolio. Don't marry your stocks thinking its going to be a fairy tale romance where you live happily ever after. This is extremely important for day traders. 

Case in point> I took $YOD for a swing last week after it had a big volume day and a little spike on news. I have played $YOD in the past and actually had it in my IRA as a swing. When it spiked last week I sold that position and started a new position on the pullback with my cash trading account. Friday it started to run, Saturday a seeking Alpha article came out. Monday the stock gapped up and took off. Then  yesterday it had a continuation day. I scaled out of my position on Friday, I scaled out more on Monday and then I sold all of my Lottos on Tuesday the romance was over. 

When stocks have a strong break out from a good base they often run for two or three days. 
The stock went from under 3 to over 6 in 3 days. I love $YOD and I will look to play it again but it has made a tremendous move it needs to settle down a bit, absorb the move that it made and rebuild a base of stability.

 I learned the hard way that I can not get caught up in the fantasy of a stock is going to the moon. Over the years I would have stocks that made this type of move only to hold it and watch all the gains disappear. I was being irrational because I was blinded by love and maybe a little greed. lol 

Learn from my mistakes and do not marry a stock or let it get control of your emotions.  Have a plan and execute the plan. 


Morning movers and other stocks that caught my eye

$MRIN earnings nice daily gapper wait for a setup, $ETRM active premarket nice daily pr isn't all that great so don't chase it, $BLRX pr nice daily, $TWTR bounce play?, $STV continuation?, $MGIC hot daily 52 week highs on deck, $FOLD pr nice daily, $RGDO pr decent daily, $NSTG pr  50 dma bounce, $MTL pr bottom bounce? ,  $MSTX kinda hot daily looks like it wants the 1 dolla holla, $HK nice daily, $VICL earnings beat , $IPAS nice daily pr, $OESX bounce play, $CVM continuation?    

Gold and silver miners continue to be attractive 


Can You feel the Love ??
I can!

 


This is what its all about!!

Member Email
         "  I just had to email you guys.  I started watching this after Vegas mentioned it today in the chat room.  I waited and watched for a while before taking a position.  Shortly after leaving the room today I was finished trading for the day.  I had time for a couple more trades and then Brandon's Place needed me.

Just after 4 I looked to see what it closed at.......WHOLLY CRAP!!!!!!!!!!!!  I traded it several times and made great money today so I have nothing to complain about, but OMG if I had been in the position to watch it through the end of day, I would have more than likely squeezed in a couple more trades. I could not believe my eyes when I saw where it closed!

This is where I have to keep reminding myself to stop thinking that way and be happy that I was firmly in the green today, better then I expected.  So, I will spend the rest of the night talking myself into this.......lol

Vegas......You're the man today, I don't care what NT says about you.....:)))) "
KF

Want a cool place to hang out, where you can learn from other experienced traders while having a few laughs? Some place where you can>>>>> feel the love?

Then click on this link http://wp.me/P3QO4L-QJ or if you want to learn more and see what current members have to say and hit the Join Us tab at the top of this page

Seeking Alpha
Today's Markets:
In Asia, Japan +0.6% to 14800. Hong Kong +1.5% to 22286. China+0.3% to 2110. India +0.4% to 20448.
In Europe, at midday, London +0.2%. Paris +0.5%. Frankfurt +0.9%.
Futures at 6:20: Dow +0.2%. S&P +0.2%. Nasdaq +0.25%. Crude+0.6% to $100.53. Gold -0.2% to $1287.
Ten-year Treasury Yield +2 bps to 2.75%.
Notable earnings before today's open: AAWWABACCOANRBGCP,COTCSTECYNODEDPSEZCHHSPINCYLOMSAOCPNKRCI,SBGISPWTLMTMHCTRIVALVGVICLVOYAWCG
Notable earnings after today's close: ACCAEMAMATANGIBGC,BGSCAKECBSCJESCSCOCTLCTRPCXWDDRECOLEFXEXL,FNFINTIOIPIITRIKGCLFLPSNMDLZMETNEWPNRPNTAP,NTESNVDAREGRKUSROVISKXSPRTSPWRSTAGTALTCO,TNGOWFMZ
Good luck today !!