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

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

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 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%.
Good luck today !!