Trade Recap for 6/26 and 6/27/12…Not Letting Winners Run!

Uggh…made money both days but not nearly as much as I would have had I let my winners run.

On 6/26, I had a swing long 4000 shares in IMSC from a 1.07 average. I let myself get shaken out on the opening dip at 1.15. Normally with these I sell half on the gap up at the open, then keep the other half with my stop at entry. I did not follow my plan, and I exited without even having an exit signal. IMSC hit the 1.30′s and nearly 1.50 today.

Also frustrated with LXRX. I had 5000 shares at 2.02 and had sold the long position on the end of day dip on Monday.  My stop was actually below the day’s lows, and I let myself get shaken out.  LXRX ended up rocketing the next day.  What’s funny is I even thought that it might do that if it held near $2.

Closed out a swing short in LATI today at 0.665 from a 0.97 entry.

Yesterday I covered the remaining shares I had short of EAHC; I thought this was a pump but learned it wasn’t so took the loss at 0.2974 from a .26 entry.  Only other closed trade yesterday was a small short in ROSG that I again didn’t let the trade work out and covered at 13 from 12.91 short entry.

Tuesday P/L:  $129.29

Wednesday P/L:  $267.15