I am very happy with Day 92! I didn't have a grand slam winner, but I correctly saw when I needed to bail out. It felt so good to feel my instincts kick in and tell me what to do. I so often ignore them and keep waiting, but this time they saved me.
Ticker: BPTH
News: FDA approved phase 1 trial for cancer drug
Float: 6.93M
Price Bought: $7.82
Price Sold: $8.21
Gain: $49.53, 5.0%
Balance: $1,128.48
BPTH was the leading gapper and also had a small float with news. Winner, winner chicken dinner. It was the obvious choice to purchase, so I got it on the first 5 minute candle to make a new high. Ross was not going to trade it as it has a history of flushing fast. I've also noticed that phase 1 trial approvals really aren't a super great catalyst. I decided to jump on thinking it would get to $8.50 and set that as my price target. As we moved towards bell, it started breaking out but wasn't pushing past $8.30. When it seemed to be moving slowly, I decided to bail before the bell. If something has a lot of momentum it will typically start moving pretty fast around 9:28. I am so glad I got out as it did flush. It did make a move around 9:45 and I maybe could have sold for $8.50, but it immediately flushed from there. If I can have consistent days like this, I'll become a very profitable trader :)
No comments:
Post a Comment