Today, OPTR conformed to the statistics I discussed yesterday. It didn’t have 5th GREEN day and finally went RED. OPTR gap downed at 8.50, went as low as 8.09 and finally closing at 8.29. This is as per my expectations. If you read my earlier post, I wrote that OPTR will go higher on Monday but come down on Tuesday and Wednesday. Yesterday it was RED for the most of the time unless the last 30 minutes rally in the market. Today it went down by 3%.
Anyway, tomorrow could be the day when OPTR finally breaks 8$ support and heads south. For this to happen, it’s important that market doesn’t rally. I think by Friday, 21st Nov, OPTR should be at around 6$.
In case you are wondering why I am not trading and only watching OPTR, the main reason is that I have tied up almost 10,000$ (60% of my capital) on OPTR and at today’s close, I am down by 650$. I know OPTR will come down to around 4$, it’s only matter of time. I don’t want to book loss just because I was in a rush.
Also, this waiting period gives me time to work on some of the calculators JV has thought of. It also gives me time to analyze and study behavior of certain stocks e.g. GGP.
Anyway, for these new calculators, I was planning to build a new web site. This site will replace existing desktop tool Co-relation calculator and provide some new fancy features. I am not sure what should be the domain name for it. Any suggestions?
Happy Trading.
RJ.
6 responses so far ↓
1 bao_t2008 // Nov 20, 2008 at 8:46 am
RJ,
That surely is a huge risk but I’m on your side on this one.
I would like to see that stock plummet into the ground!
2 Charlie Grose // Nov 20, 2008 at 5:30 pm
Cool sank to lows of $7.30 today. Did you cover or waiting for $6? This trade made me worried and its not even my money. Since this is such a bear market and this stock seems skeptical at the highs it jumped to, it may have not been as risky as it seems on the surface.
3 zheng // Nov 20, 2008 at 6:44 pm
I tried to short OPTR but IB didn’t have shares at the time I tried.
Hope you are actually making profits from your high probability calculations! Good luck!
4 zheng // Nov 20, 2008 at 6:46 pm
Wow, 60% of your portfolio banked on one stock? Good luck and hope your big bet pays off!
5 iL Torello // Nov 20, 2008 at 7:26 pm
Ramta….I’m pulling for you dude! You have more guts than me! Your calculator does sound awesome, so I’ll keep watch of course. I haven’t been able to trade as much because of school and I’m also trying to build my own website, just like the one you have. You’re website’s very nice! way to go dude!
6 RJ // Nov 21, 2008 at 12:42 am
Thanks guys! I really appreciate the support.
I wish I had it covered at 7.30. I put up a new post about how I traded OPTR today.
RJ
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