8/12 Day/swingtrades

This market is still very choppy. I long for the consistent $5-10 swing days with little effort. Instead, these trends are lasting 2-3 days max and you need to be on the right side of the intraday trend and the right sector to be profitable. I don't like taking this many trades so will probabably scale back and get a lot pickier with my trades.


SKF - Here's an example of all the cards lining up. Stock gaps up at the open indicating strength, all the technicals (RSI, MACD & OBV) are moving higher, a narrow range develops between 115.50-117.00, financials are tanking so the trade is in the right direction and there's a spike in volume as the stock breaks the narrow range. This is a perfect daytrade set-up to double your position size...which I didn't because I pulled up the chart a bit late.
Bought @ 117.70, Aug 100 Calls
Sold 1/2 @ 120.30, Closed out position @ 122.30 (I got very lucky here. I set the sell order $2.00 above the first sale and it ended up being $0.16 from the high of the day)
Profit - $3.30 average on calls

MOS - After selling POT too early, I tried chasing MOS but was not patient enough. The moving averages are still finding their way and I bought in no man's land.

Bought @ 97.30

Stopped @ 97.40

Loss - $0.30

GG - Per Darwin's recommendation, gold has been selling off quite a bit lately. I picked up GG as the moving averages reversed and GG traded back above them using the 30-min chart.

Bought @ 30.90, Aug 30 Calls

Stop @ 30.40

X - Similarly, I picked up some X as it crossed over the moving averages using the 30-min chart. This will be a quick rebound trade if it can continue up.

Bought @ 130.00, Aug 100 Calls

Stop @ 128.40

LDK - I picked up som Aug 40 calls this morning. Nothing special there...I'm just banking on some positive earnings from other solars to lift the sector.

SHLD - I dumped my remaining Aug 95 Calls. With 3 days left to expiration, I'd rather be in DITM calls then watch the $2 premium erode, especially with the low volume moves. I'm still keeping it on the radar in case it gets squeezed some more but at this point I have no position.

Bought @ 91.00, Aug 95 Calls

Sold @ 94.00

Loss - $0.10

CALM - I didn't like the way it traded below the 30-min moving averages all day so I closed out this position also.

Bought @ 41.00, Aug 40 & 45 Calls

Sold @ 43.50 - Aug 35 Calls, @ 42.50 - Aug 45 Calls

Profit - $1.70 - Aug 35 Calls, Loss - $0.30 Aug 45 Calls

MELI - still holding those lottery tickets. The earnings don't look that great and with the down market, these will probably expire worthless.

POT - Sold in the AM...way too early.

Bought @ 160.69, Aug 145 Calls

Sold @ 164.00

Profit - $2.00 on Calls