Day Trading Post #49

So, yesterday premarket, things were gapped up and the stocks I listed in post #48 were on my watch list. I ended up taking SIRI and NCS, but I should have waited. The gap up messed with my plan a little, and I pulled the trigger a little early on both positions. It's nothing too bad though, and I am still confident in my trades. I took a total of 400 shares of NCS at an average price of 2.22, and I have 2500 shares of SIRI at an average price of $0.41ish.

The plan was to get into NCS if it broke below $2.00, but I will add to my position as it pulls back. I know that I am bottom fishing on this one, but I am confident that we will see a pop. SIRI pulled back 15 minutes into the trading day and continued to pull back the whole day yesterday. I have my position, and I am sticking to it. If I see some really good strength I may add to my position but as of now I am holding. I held off on taking EBHI, but that would have been a good trade yesterday. Oh well :(! I put a trade out for MESA but it turned out my broker does have enough shares available to buy it or something, so I moved on from that trade (would have been nice to have gotten in that one though). And finally, UAUA pulled back to $3.80, so I am glad I held off on getting into that one, although it's setting up nicely today, so i may pull the trigger!

Today is quadruple witching, so look out for lots of manipulation!!! Any big pops on any of my positions, and I plan to take them off the table and lock in profit! Other than that I will just be sitting back, observing, and only taking trades if I see great setups. I have gotten burned in the past on quadruple witching, so I don't want to be too aggressive today.

Anyway, I will post an update later today. That's all for now!

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Update @ 6pm after todays close...
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So, I am now holding onto SIRI (2,500 shares), CNB (750 shares), NCS (400 shares), LEA (250 shares), HW (100 shares), CNO (100 shares), PCX (100 shares), and ZLC (100 shares).

Of those positions, I have already locked in profit on CNB, LEA, HW, and PCX. Of the remaining, no stops have been hit, and I am currently holding and planning to take profits soon.

Anyway, today was extremely slow, choppy, and uneventful. To be honest, I hear people always saying things like "Tommorow should be good its tripe/quadruple witching" only to see that nothing happens. Most of my current positions stayed the same and at the close my account was up from yesterday by about 20 bucks. Nothing special at all. The only good thing is that since the close SIRI has been popping up which is nice to see, and it's now at $0.38 cents. My price is $0.41 cents, so I am only down a few cents on it now. We'll see what happens monday though. Other than that, my days have been spent watching the market and studying for the series 7 exam. Of those two main activities, none have been too exciting yet. With that said, I hope you are doing well in the markets and have a great weekend!