Awesome Alert today on MIMV in the chat room (.30's to close at .57), and glad to see a few in chat bank on PPHM the past 2 days; but an overall tough day for the markets. Tough day to try to buy momentum. I Stopped out PURE flat, and ROSG, MTG & PPHM (was alerted early, but I tried to late) for small losses. Tried bounce play on ZERO, and ended up as a loss as well, but much better than it could have been after I averaged down when it finally bottomed. (I warned everyone to cut loss early when it didn't bounce at first; as I was afraid it would tank hard. Didn't take my own advice - read chat logs when posted.)
Losses are a part of trading, can't win everyday; just have to be able to manage them. Anyone who says they don't lose is lying. Just don't let one loss ruin your bankroll, cut it early! There are always more stocks to play. Nothing wrong with admitting defeat as it happens from time to time. Just turn it into a positive by learning from it.
Holding two more as swings, green on one. Be on the look out for more short ideas as it may be that time; at least for a few stocks. Not much on watch tonight. Keep previous ideas on watch still, as if the market does bounce, a few of those names may do what we expected.
AMRI PPHM CWTR ECTE KRA DEJ SVN ZLC NFLX (chart below)
OTC's: MIMV BMPI APDN PSID IMSC (chart below)
NFLX - short opportunity if 52 week low gives out.
posted by Blair Tarr at OnlineTradersForum.com