Great day today. To bad I wasn’t here to see it.
I started out the day with LDSH trading it back and forth with a long bias. It seemed to trade below fair value for much of the day but the real money was made in the opening. I did add to it during the closing but that was just gravy.
While I was not happy that I missed out on a great IDT short trade due to my scanning software limitations I went from not being happy to really sweating out NTAP. First I went short which was not what I normally do but one did not need a bigger sign flashing neon that earnings were leaked and they would not be good. I took that ride for a smaller amount than maybe I should but again it is not my kind of trade. I then went long when my computer said in just as big of flashing neon “oversold”. Traded it back and forth when all came to a quick stop. At the same time I had a doctor appointment to go to so I needed to leave my orders and the trade. IB would not allow me to enter my closing trades during the halt (why they could not simply take the order and hold it until it opened back up is way beyond my understanding. Once again IB dropping the ball IMHO). I had most of the shares already with covering orders and in fact there was some orders that could have put me short had the stock really moved back to where it was trading earlier in the day. At the doctors office though I thought I was still needing to cover 200 shares so while waiting I entered into my phone the order and that was taken. Came back home with the thought that I may or may not be totally out but knowing I made some coin due to the total value of my account (I had outstanding orders with both LDSH and NTAP when I left but only some of the orders showed on the phone and it put me flat both stocks so I thought there was an error in reporting). Upon signing in and checking I was flat and banked a nice gain.
That was about all I could ask for. Now flat and looking forward to seeing how the market moves tomorrow with the GM IPO coming to a town near you.
LDSH + 501
NTAP + 1157