11/28 Day/Swingtrades

Another low volume run-up for the bulls. I should have slept in but decided to wake up just to babysit my positions. My swing positions closed the day pretty well. With these low-volume gains, I won't be surprised to see a gap open on Monday if the institutions try to suck in the longs. I'll use that opportunity to close out these positions if it starts to fade. Many stocks are closing at the 20-SMA on the daily so we may need a rest to consolidate the gains this past week. Time to go hunting for holiday bargains!

C - I'm glad I went with C instead of UYG the other day. C tacked on some more nice gains. I sold some of the Nov 7.5 Calls for a double on the options.

FNM - This baby just keeps chugging along. I normally don't think in percentage gains but with penny stocks like FNM, I'm taking large, concentrated bets based on a % of my portfolio so I have to view my return based on the initial capital traded. FNM has gained over 300% (from $0.31) since last Friday and when it hit 100% for me this AM, I took some off the table @ 0.95. Just as a reminder, I also have a smaller longer-term position that I started a month ago (yeah, too soon) with an average cost of $1.20. I stopped adding to that position when FNM broke below $1.00. Fortunately, with the size I purchased on Monday, I'm well in the black overall. The key for me was not to let the past position hold me back from trading the set-up I saw on Tuesday.