Mike announced a VEXP prehit in his chatroom. VEXP had some solid news to go along with that prehit, and since the chart had shown little volume/price action for a number of days, this was primed for a run.
However, I was also watching HTOG for a break of 1 cent, figuring if it broke 1 cent, it would run like crazy. These subpennies can double and triple within minutes to hours.
I was going to take a large position, so the question was....which one? I was looking to take either a 5000 share position in VEXP, or a 1 million share position in HTOG. I figured HTOG would give me a better profit, so I decided to focus on HTOG.
Turns out that was a mistake. Right after the market open, VEXP zoomed from 60 cents to 80 cents.
If I had taken the 5000 share position, I would've had a $1000 profit!!!!! AAARRGH! Not only that....within a few hours, VEXP ended up going all the way to $1.23 before coming back down. I COULD'VE HAD A $3000 PROFIT OR MORE!!!!!
AAAAHHHHHHH!!!!!
And what happened to HTOG? Just touched 1 cent, only to come back down. I forgot that I had a small position in HTOG overnight, and sold it for .0087 cents, for a measly $19 loss after commissions.
Looking back, VEXP was the better play to take in regards to risk/reward. HTOG had already run up big the previous day, so the chance of a run continuing was probably 50/50. VEXP certainly wasn't going to go down, and had a lot of room to move up.
Would've, could've, should've. That's life in the gutter for you.
Oh, and you guys want to see a manipulated stock? Check out IDAE.
I thought about buying into IDAE, but was too scared to. You never know when the day of serious tankage is coming.
No other positions for me today. Tomorrow is a new day, and there will be more VEXP-like opportunities in the future.
Gutter Account Stats:June 10th: $4823.46
Yesterday: $5348.60
Today: $5339.58
Today's overall loss: $9.02, or -0.17%
Gain since June 10th: $516.12, or 10.7%
Compare that to S&P 500 since June 10th: -3%
Positions traded for a loss:
HTOG: -$18.90
See you in the gutter tomorrow
Posts
2 comments:
Hi Steve,
i was in VEXP thanks to Mike, but bailed out at the first sign of weakness. Double that with a bad filling i made a meager $20 on initially 1500 @ .79
See you tomorrow!
Novalis,
Bad fills suck! I had a bad fill on SPDE the other day that turned a profit into a loss.
See you in the chatroom!
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