I covered XNNH today for a loss! I did not like the trade and should not have gotten into it. Was trying to see if I wanted to start to short these pumps below ¢.20... it is what I thought and I do not want to. Good to know...
Summer is winding down for me, one more week going on vacation next week where I will not be able to scan for tickers so any positions I have at the end of this week will be what I will carry and/or cover through the week.
I will be reinitiating my strategy of trading the spread of some stocks. It is a successful and easy strategy for me. The tickers that I trade ( short ) are not just ones with large spreads between the bid and the ask, they are former pumps that are now thinly traded and the spread shows that. Doing this takes patience and some nerves sometimes but I have developed the game plan for it and feel very comfortable with it.
I have decided to not go after any other strategies. I will increase the share size of my shorts but all else will remain the same.
Have an order to get shares of UVND in the mid ¢.50's, when I get them will immediately try to cover on the bid....spread trade!!! LOVE IT!!
No comments:
Post a Comment