RamtaJogi— Hacking Life for Money and Fame.

Before I tell you about the winner, let me tell you how my overnight positions did.

As expected, BGS cracked down finally. Here’s how it happened.

BGS Trade 12th Nov

I think this was a very poor trade on my part. I got out because I got bored. Yes, you read that right. BGS was hovering at 4.52, the overall market was down, volume was extremely low. There was no reason for me to get out. But I got bored because of the lack of movement. It was a perfect boring chart and I should be happy about it. I don’t know how I allowed myself to get bored and get out the position. God damn it, this stock was going to make me money, how can I get bored while making money? I hope I won’t do this ever again.

Next, MYL. Here’s what happened:

MYL Trade 12th Nov

Again, I could have played this bit better. I should have shorted in morning to bring my average short price to around 9.5. If I would have done that, I would be up by 50 cents/share on my position. Anyway, I think MYL will continue the decline tomorrow. The only thing which makes me worried are those HUGE after market trades. Any idea who could be doing these trades? I actually tried to cover position at 8.80 in after market (after seeing similar price go through) but my order did not get filled. So I am still short in MYL at 9.10.

And my true winner of the way was, drum rolls please, OPTR!

OPTR Trade 12th Nov

OPTR moved from 4.65 to 9$ on successful trial of their drug news. Today, it started cracking and fell to 8$. In the chat room, I learned that Muddy, Laura and others short it at 8.5. It went below 8 and I decided that it’s too late for me to enter now. [My rule is not to chase a trade] My feeling was confirmed when it went to 8.20 from 7.60. I wanted to short it but couldn’t pull the trigger.

But when OPTR went below 8 again, I was interested. I was interested because it almost doubled in one day and it has to give back some of those gains. I put up a short at 8$ limit. OPTR never touched 8$ again. I then tried 7.80 after it cracked 7.80. OPTR never touched 7.80$ again. Then I tried 7.50 after it went below 7.50. It won’t come back to 7.50. Finally, I decided to take some risk and shorted at the current running price at that time and it was 7.26. I got filled. Boy, I was in for a ride! In last 30 minutes of trading, OPTR dropped like a rock and closed at 5.98! I am up by 1.28$/share. Adam Nathan wrote on Tim’s site that he is up by 2500$ on OPTR trade! My position was not that big so I am up by 384$.

Anyway, JV will say that I should have covered. I haven’t covered yet. I think OPTR could further slide down and reach around the original price levels of 4.65$. To confirm, I asked Laura in chatroom whether she covered or not and what her plan is. Laura wants to keep the position open for days/week. So let’s see if I can keep my gains tomorrow OR I will have to give back some of the gains. Wish me luck.

Happy Trading.
RJ.

Status as of end of Nov 12th:

Positions closed for Gain: BGS (54$)

Positions closed for Loss: None

Open Positions: Short 300 MYL at 9.10 (Down by 3$), Short 300 OPTR at 7.26 (Up by 384$)