I am going to keep this post short dear readers, as I spent a decent bit of time and energy on the last one - Bull markets are the worst teachers. Check it out if you haven't done so already!
I have two stocks for you readers today - NEP and OCLR.
Let's discuss NEP first. It made a big move up today. Not unexpected, I might add. I posted about the reversal in the stock yesterday on twitter and again today in the pre market on twitter. I hope some of you readers got in this one as it looks good to run some more. It's results are due any day now and they should be good. It is the only stock whose results I follow and know about the fundamentals and you know the reason for that if you have read my introduction.
OCLR - Keeps going higher. I posted about this one on Sunday. There is an interesting story on how I came to know about this stock too but let's save that for another day. Basically, this is another stock from my newbie buy-and-hold days from summer of 2007. Love the volume pattern but be careful chasing it here as I see a negative momentum divergence developing.
I will just briefly update you readers about my trading activities today:
Sold WYNN at 76.40 for around 1.8%. I am not against a stock consolidating but I expected a move up at the end of the day with the rest of the market. Better safe than sorry attitude here as my account had its highest ever close today and I wanted to hold on to that.
Sold OCLR for at 2.73 for an average profit of ~ 3.8%. Sold too soon but I will take a 4% profit anyday! More important is I don't get frustrated by thinking about the money left on the table and do stupid things. I know I do that when I am not trading well.
Got in and out of CNC for ~ 2.3% gain.
Sold my hedge VXX for an average loss of ~ 3.7%. More loss than I would have liked but I would rather lose money on a hedge position than make money on it :). No regrets as this position gave me the confidence to go overly long even when I wasn't in a good place with my trading. In hindsight, I could have managed this one better. Chalk this one to inexperience in dealing with hedge positions.
Also, took a starter position in CSE at 5.99. Its been trying to cross 6 for ages. If it doesn't early tomorrow, I get out in a flash.
That's it from me for today. Take care!