09/19/16 Recap

Today I traded 3 stocks, PTCT, SRPT and CONN.  I ended the day with a $1200 profit, so it was a good day.  I am particularly proud of my trade on SRPT.  I don’t usually trade that high of priced stocks, especially with the crazy range it had today.  But what I did right was keep my size small.  I traded just 100 shares and made $500 on the trade.  I shorted a few minutes after it opened back up from the trading halt, with HOD as my risk.  It was just over $1.00 risk.  I covered a little too soon, as it turns out I missed the bottom of the pull by $4, but I caught the meat of the move.

PTCT was also a good trade.  I sized into my short on the ramp back up towards HOD after the sharp pull back.  I got a total of 3,000 shares with a $11.46 average.  My average was not the best as I started in a little to early.  This trade was moving in sympathy to SRPT and honestly, it made me a little nervous.  As you can see on the chart it kept testing the HOD as SRPT was ripping to new highs.  Luckily it started to brake from SRPT and eventually faded.  But because of my nerves I took my profits a little too soon.  My first two covers were good, but my last one I covered on the pop.  What I should have been doing was looking to add back at least my first cover.  I missed a lot of profit on this trade as well, but I did walk away with $772.  This trade reminded me that I need to continue to work this month on adding to my winners!