My hold over the weekend of $CRLB worked out perfectly as it broke out and had a very strong morning spike. I was able to catch the meat of the move and netted a little over 23% gains.
I also to profits on my short swing of $PRGN that I had been holding for way too long. I was able to net a little over a 10% gain average with roughly $500 to add to my paper account. But the big earning here is the lesson of taking profits. At one point $PRGN was down in the $1.20 ranges which had me with over 30% gains average. I should have taken that and re-shorted to protect my profits. I didn't do that and was caught by an unexpected spike last week that slapped me back into the red. It faded in a few days and allowed me today exit, but I needed to have taken the profits earlier. Also, I was holding this too long in general because in a real trade I wouldn't be holding a short play as long as I did. Overall, a good lesson learned.
Lastly, I'm long overnight on $KEYW after being alerted to mid-day news of a major multi-contract win worth $460m with the US Cyber Command. News of the CFO changing to a new CFO who has defense experience also was released A/H though I'm not sure if it will have as much of a catalyst effect as the contract win. The contract wasn't the only reason I decided to buy this and hold overnight, the technicals looked good too. When I checked the charts I saw that it was breaking out of a multi-day resistance at $8.50 which to me signaled strength. It faded slightly at the EOD but still ended in the green with almost 6% gains.
Happy Trading
Follow me on Twitter @MateoHellion
Follow me on Profit.ly @Alleywolf
Follow me on Profit.ly @PaperAccount
No comments:
Post a Comment