Yesterday was a perfect example of why holding onto a stock that you think you are in love with may not be such a great idea. $VTUS was a stock that I have been playing in and out of and I actually had it for a swing. I loved the chart and I loved the story which seemed to be very compelling. Phase 3 clinical trial results were due out any day and I decided I was going to hold through the results. Well needless to say the results didn't work out they way they were expected.
I took a hit on the stock but before you start celebrating my defeat, or feeling sorry for my loss. Understand that it wasn't nearly as bad as it could have been. One of the things Noa and I consistently preach is to scale out of your winning positions. I had already scaled out 3/4 of my position, 1/4 last week and a half of the remaining position earlier this week. Overall I am still in the red for that stock. However, it is minimal in comparison to the amount of pain it could have caused had I not scaled out and booked profits while they were there. I am well aware of the extremely high risks of holding Biotechs overnight and allocate my capital accordingly.
Have a plan and execute the plan!
Morning movers and other stocks that caught my eye
$IO earnings beat nice daily, $WYY like the daily possible continuation, $ACHN continuation?, $ARIA can we get a 9 dolla holla today ??, $CHTP continuation, $BIOD pr last night decent daily, $GENE active premarket can be a pop and flopper be careful, $RCON earnings decent daily, $OXBT gapper pr can pop and flop wait for setup, $MPEL earnings nice daily but this has had a huge run, $PLUG nice daily active premarket, $ADMP thin floater but like the daily, $OWW earnings
$TVIX $GOLD and $SILVER related stocks will be on my radar
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| 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.
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
" 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
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 -1.8% to 14535. Hong Kong -0.5% to 22166. China -0.55% at 2098. India-1.25% at 20193.
In Europe, at midday, London -0.7%. Paris -0.5%. Frankfurt -0.3%.
Futures at 6:20: Dow -0.4%. S&P -0.5%. Nasdaq -0.5%. Crude -0.7% to $99.70. Gold-0.4% to $1290.40.
Ten-year Treasury Yield - 1 bps at 2.75%.
In Asia, Japan -1.8% to 14535. Hong Kong -0.5% to 22166. China -0.55% at 2098. India-1.25% at 20193.
In Europe, at midday, London -0.7%. Paris -0.5%. Frankfurt -0.3%.
Futures at 6:20: Dow -0.4%. S&P -0.5%. Nasdaq -0.5%. Crude -0.7% to $99.70. Gold-0.4% to $1290.40.
Ten-year Treasury Yield - 1 bps at 2.75%.
Today's economic calendar:
8:30 Retail Sales
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:00 Business Inventories
10:30 Yellen delivers semi-annual monetary policy testimony (Postponed)
10:30 EIA Natural Gas Inventory
1:00 PM Results of $16B, 30-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
8:30 Retail Sales
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:00 Business Inventories
10:30 Yellen delivers semi-annual monetary policy testimony (Postponed)
10:30 EIA Natural Gas Inventory
1:00 PM Results of $16B, 30-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Notable earnings before today's open: ABB, ABX, ACOR, AFSI, APA, ASPS, AVP,BBW, BG, BKW, BWA, CAB, COR, CPN, CRNT, CVE, DBD, DISCA, ECA, EQM, EQT,FAF, GG, GNC, GNRC, GT, HIMX, HOT, IFF, JAH, LPX, LYG, MFA, MFC, MPEL,NGLS, NLSN, NTWK, O, OAK, OMG, ONE, ORB, OWW, PAG, PDS, PEP, PES, PVR,Q, RTIX, SHPG, SKYW, SON, STC, SYNT, TAP, TCK, TRGT, VNDA, VNTV, WBC,WSO
Notable earnings after today's close: A, AIG, ALNY, ALSN, BRCD, CGNX, CLD, CLF,CRAY, ELLI, ENOC, GRT, IM, JCOM, KEG, KONA, KRFT, LBTYA, LLNW, LOGM,MASI, MOVE, NR, RATE, RGC, SAAS, STMP, TRLA, WOOF, WRI, WTW
Good luck trading today !!
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