PennyFarmer’s Monday Harvest
I’m pretty happy with how the trading went today. I ended up only trading one of the stocks on the Main Crop list and made two trades from the Side Crop list. By the EOD I am up $292 in realized gains with a position in $GEVO holding overnight.
My first trade was in $UVXY and was honestly meant to be a short play with an entry of $14.25 because the MAC-D and AO were quickly approaching their zero lines and I thought it was going to begin an afternoon fade. It started to head back up as I was entering my hard stop loss at $14.30 to risk $0.05… that’s when my limit filled and it ended up taking a $40 profit. I was really confused at first because the profit didn’t make sense. That is when I realized that when I had manually entered the number of shares into my order I neglected to include (-) before the number of shares which changed the position from a short to a long. I’ll take the luck as a small price to pay for a lesson on paying attention to the details.
My second trade was in $TVIX with an entry of $3.28, right at the breakout level for a small pullback on upward momentum. It then popped up to $3.36 range and I set a hard stop loss at $3.34. It pulled back slightly and knocked me out with a nice little gain of $192 for a 15 minute hold. Eventually it closed at about $3.52 so I ended up leaving a good amount on the table.
I made one last trade in $GEVO as we neared the EOD because the MAC-D and AO were approaching the zero lines. I think I jumped the gun on this one and entered a little too early. My entry is .49 and it did pop to .50 but then started to fade into the close. I think this may pop to the .52 resistance or maybe retest the .55 HOD from today. I’m going to hold it overnight and I have a tight stop loss set at .47 risking 0.02. Like I mentioned in the Main Crops list yesterday, there is still a few catalysts out there circulating and the company has been getting some screen time in the local news outlets so I feel this is worth the risk.
Thank you again for those of you who send messages and words of wisdom. Please feel free to contact me with comments or questions.
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