Good day to gain some CONFIDENCE!
Gain: $140/GRIN
LOSS:None
Portfolio Value: $1695
Its about time I finally make some money in this market. I had been watching FMCM this morning, but it didn't look good at all. I began scanning for good potential plays and saw that GRIN had risen over 100+% on Friday on news that they were getting a new CEO, yeah that is some decent news, but the CEO is the former CFO. I have been reading a couple of books on Technical Analysis and played this one using the MACD and 20 day MA. As it turned out I shorted my 1000 shares at $1.06 when the moving averages crossed each other at a convergence point, just above the 20 day Moving Average. As soon as I shorted the stock the stock jumped about .05/cents. (I was just about ready to cut my losses as the bid and ask price began to widen). The stock then broke and fell to .96/cents were it lingered at for a while. I had to take a final so I put in a limit order to cover my short at .92/cents. The order was filled and the stock close at .86/cents. I could have made $200, but I am definitely happy with my $140 gain. Shorting that many shares cost me a total of $8.00 in commission. You tell me another broker that gives you that many shares for that cheap! I have finally figured out SOGO, I need to use limit order to execute my trades so I get the price that "I" want.
I am going to watch for some more potential plays tonight, I hope that GRIN happens to spike first thing in the morning so I can re-short it. I appreciate the emails that you guys have been sending. You can leave your comments below or email me at traderjunkie@gmail.com. Thanks guys, good things are going to be coming.
LOSS:None
Portfolio Value: $1695
Its about time I finally make some money in this market. I had been watching FMCM this morning, but it didn't look good at all. I began scanning for good potential plays and saw that GRIN had risen over 100+% on Friday on news that they were getting a new CEO, yeah that is some decent news, but the CEO is the former CFO. I have been reading a couple of books on Technical Analysis and played this one using the MACD and 20 day MA. As it turned out I shorted my 1000 shares at $1.06 when the moving averages crossed each other at a convergence point, just above the 20 day Moving Average. As soon as I shorted the stock the stock jumped about .05/cents. (I was just about ready to cut my losses as the bid and ask price began to widen). The stock then broke and fell to .96/cents were it lingered at for a while. I had to take a final so I put in a limit order to cover my short at .92/cents. The order was filled and the stock close at .86/cents. I could have made $200, but I am definitely happy with my $140 gain. Shorting that many shares cost me a total of $8.00 in commission. You tell me another broker that gives you that many shares for that cheap! I have finally figured out SOGO, I need to use limit order to execute my trades so I get the price that "I" want.
I am going to watch for some more potential plays tonight, I hope that GRIN happens to spike first thing in the morning so I can re-short it. I appreciate the emails that you guys have been sending. You can leave your comments below or email me at traderjunkie@gmail.com. Thanks guys, good things are going to be coming.
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