BAD TRADE / GOOD TRADE

XING had huge volume pre-market and a nice gap.  I thought the setup was very similar to the XOMA play we had yesterday.  Before the market open, I remembered John's comments from yesterday about being patient, and letting the pattern develop a little bit.  At the open, saw the big green candle with huge volume, and bought... at the high.  Set a stop $0.02 below open for a 5.6% loss (on position).  Tried again on break of down trend line, way too late.  BAD TRADE, TOTAL LOSS of $600.00 on this trade. 2 bad entries!

 

I made up the losses and some on 3 other trades.  MOTR bought at $18.68 was sold at $19.63, and bought again @ 19.74, sold at an average of 20.04.

SRZ entry on break of HOD and it just kept climbing.  Played afternoon secondary breakout on tightening consolidation and increasing volume.  Entry was 7.01 (there was resistance and support @ 7.00 in the initial B/O).

Sold

CHGN + 2.7%

OCZ + 5.3%

Buy

JOE  @ 22.2199

CRIC @ 9.1699

ARNA @ 2.00979

Overall, best trading day ever.  Almost reached my goal of my 1st $1K day.