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Interesting board. Kind of see what I was trying to do here. Somewhat embarrassing that I opened it 10 years ago.

Trading screwup of the day: OWW. Trading to scalp an extra 5 freaking cents on the short. Cost me 40c when it bounced the other way. Need to constantly weigh risk/reward.

Current trades:

NFLX short. Still breaking down. Williams % R nicely oversold. Well below 50 day.

LXK short. Perfect entry. Broke below overbought in RSI, and breaking into MA envelope. With no bounce on Monday the trend should continue.

GME, short, watch list. Still overbought. Moving from Williams %R overbought in the next few trading days without a bump. Looking for move from 30 to 27.50ish.
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NFLX approaching oversold, and is in technical oversold via Williams %R. 50 day is still rising so room overhead is increasing.

Not much change in LXK. Still hasn't broken the envelope for a true downtrend. Still like this trade.

GME still oversold but definitely toppy on the chart. I would normally enter here but am fully invested.

SLV just broke out of oversold territory and I would normally consider it a technical buy but again, no money and I am kind of hating on metals right now. Doubt this is a V bottom anyway so there should be time.

Today's screen:

ASTX technically overbought. Not sure what is driving up the price as the news is mediocre. Appears to be a popular biotech but who cares. Not a big fan of shorting biotechs since they tend to have a lot of pointless press releases that bounce the stock for a few days. Astex doesn't make any money and won't be making any money soon. Might consider a short when momentum breaks down. Could make 30 points just on a return to the 50 day. Will track.
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Pretty crappy week.

Got shaken out of my LXK short which ended up with a V top. Will probably re-enter on Monday. I still like the setup. NFLX blew up on some nonsense social media chatter and I lost 75% of my gain. Will look to exit the position in advance of earnings but may pick up a cheap put. Could see it going either was on earnings.

Obviously metals are dying. Glad I didn't follow my TA master and trade long.

GME still making new highs. This should set up for a beautiful short when it turns over.

ASTX with new highs on four consecutive trading days. Narrowing ranges indicates it is getting toppy however RSI still increasing. This should also be a nice short although I am a little leery of shorting biotechs. I guess buying a couple of calls to hedge a short would be prudent.
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Terrible week. Fled NFLX on the upgrade which of course immediately returned to current downtrend. Would have held but got nervous about earnings on Monday. My great wish is that earnings provides an uptick. My gut says that NFLX will crash. Still, don't have the balls to hold NFLX short through earnings, could see another 50% gain.

GME looking toppy again. Earnings on 5/13. Time to scalp a short still,

ASTX with a descending triangle. Earnings shouldn't matter much since this company doesn't make much anyway. Earnings on 4/29.

Missed the boat on LXK. Adding up all my missed profits. ugh Will continue to watch, could still return near recent highs which would be a beautiful short setup.

Going to start watching HGSH. Chinese RE developer. Overheated. Been running but not sure why, not exactly a rosy outlook for this company. The volume is terrible but I still think it will make for a nice technical short.
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I love the 'posting at myself while really posting in public but not posting in public cuz no one reads this board thing'. It allows me to subject myself to humiliation when I fail to follow my own rules, and since following my rules is my biggest investment flaw, these posts are really valuable.

and yeah mick, I know you are out there. you don't count.

NFLX earnings tomorrow. Hopefully a nice bump. Still sick about this trade. I was completely right but gotten shaken out. Can't hold a story stock short through earnings. Just can't.

Reviewed my technicals post mortem and I missed an obvious exit. Two signals flashed and I wasn't paying attention. Made money on the trade but lost about 90% of my gain.

On to the market:

Okay, surprise. QQQ crossed the 50 day on Thursday and snugged back to it on Friday's close. Contemplating a short on the open with a tight stop. The fast stochastic remains below the slow stochastic so the downtrend is still in place. Would be looking for a small scalp, 3% or so with a stop just over Friday's high. We'll see.

GME may have finally hit a ceiling at 33. Looking to enter a short tomorrow am.

ASTX making a double top. Also looking to enter an initial short on this position.

A lot of support at 25.50 for LXK. High volume with long wicks the last two days. Would love to see it break back above 27. Earnings on Tuesday so we'll see.

HGSH broke out of overbought territory on Friday. Will look for some confirmation tomorrow. Contemplating a trade.

Starting to track MCOX. Earnings Tuesday. Will reassess then.
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Slow week. Dabbled with ASTX and it didn't work. Then I held on a little too long instead of getting out even. Lost about about 0.5% on my account.

QQQ moved strongly higher after testing the 50. Market continues to look cheap.

NFLX did have the big surprise and moved up 20% on earnings. Looking for it to move out of overbought territory to reinitiate my short. I still believe in that trade.

LXK also very strong move on earnings. Will monitor but no plan to enter a position soon. This stock needs to establish a top first. With its momentum it should build a solid top to trade off of.

GME still strongly overbought. Will continue to monitor.

ASTX remains overbought. May be establishing a top. I was clearly premature. Problems with sitting in cash, everything starts to look like a trade. Will be more patient.

HGSH finally broke through 70 on the RSI. Williams %R also breaking down. Not sure I can trade it. There is no current earning date.

~

working on some new screens. I am sure I am not identifying the best plays, or right now even very good ones.
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Back in NFLX short. Traded out then in to my small disadvantage, still easily in the black. Looking to accumulate and improve my cost basis on swings. It is looking very weak though, not sure it will swing up to my accumulation levels.

Giving up on LXK. Annoyed with it, but it's a strong company that pays a dividend, probably a better candidate for my long portfolio than my trading account.

Missed some big gains on ASTX and HGSH when trades didn't execute for some reason. Need to have a conversation with my broker soon about this.

~

Going to start watching OSTK. It should set up for a decent short in the next month. Probably need to play for a quick trade, if at all. The company is strong and possibly undervalued. Short float is very high. Still, the stock is overheated and will cool eventually, I'd like to capture a few points of that.
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and yeah mick, I know you are out there. you don't count.


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I suspect he KNOWS both aspects of THAT post!



sunray
a man known to be suspicious
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