Another miss on a possible great trade. I have a feeling whoever reads this blog is getting sick about the near misses. I know I am. I know it is driving my wife nuts. FTEK was a the big mouth pick last night. The plan was to short 1000 shares right after 8 am near 23.70 if possible. Cover around 9 am with looking to go long (if a big decline from 8 am) for the open pop and then flipping to short 2000 shares soon after. This is the general plan I have for 4 lettered stocks the big month recommends.
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Coming out of the gate the amount of volume was far less than expected. Still I thought it was a good possibility and started looking for places to short. Got filled on 500 and after sitting on them and seeing the market doing nothing, I covered at 23.55 after nine. I was assuming there would be a pop at the open that I did not want to be short in. That pop would be the next short opportunity thinking maybe between 23.70 and 23.90. The pop came and I paused I moment too long. Tried shorting with a order at 23.72, then 23.65 and finally at 23.60 but at that point, the stock was falling too fast to short. God, I wish it was an ETF. So if I would have filled the order, I do not believe FTEK would have broke 23.00 so just above it was my target. Nice trade plan, stock somewhat played along but I made a big $11 after commissions.
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The rest of the day was nothing much to write about.
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The numbers - gross +107, net +76, shares traded 6200
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