Day Trading Post #16

Well, today my day trades weren't so good. I actually only took one trade, and the setup was there on the 3m and 5m chart, but not on the 15 minute chart. On top of that, I was in the money for about $0.25 cents and let it come against me. Then when I was only down approximately 20 to 30 cents (risk on position was $0.35 cents) and it was popping up, all of the sudden it gapped down and I was out of the money over 50 cents!!! So, I marketed out and took a 60 cent hit. Shit happens, and I am gross green and net green for the week with my day trading account. Check out the image posted below for a breakdown of my bad trade and my performance for the week.


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Swing Trade Updates:
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Ebay: Looks like some resistance again around that $12.20 cent mark. I'm still holding 200 shares. I may scale out 100 shares today to lock in some profits and let the other 100 shares run. If I scale out, I am looking to do so at $12.15 ideally but we'll see.

PCX: Still shaking around the $3.00 mark. Stochastics on the daily chart are trending up which I like. There is no real volume yet though. If stochastics roll over towards the bearish side, I am considering taking the hit on this position. Otherwise I'm holding on.

LDK: This is such a small position, I am riding this one to the ground. I bought into the bad news, held through the sell off, and now LDK is a yoyo going up and down. Since I only have 25 shares, I am not concerned about this position at all.

GGC: I just took this position today. I like the Chemical Sector just based off of some information I got from a family friend who works in the industry. I took 500 shares at $0.34 and am looking to take 15 cents or more profit on it. This is my first penny stock trade, so I didn't want to take any real huge size. The daily chart is below with my notes on it: