Jaynu,

Based on how you trade what were your options? How would you have traded this going forward?

Mike

Teva had a strong opening drive and prices were compressing. It had an intraday news catalyst. Once I spotted a buyer, the play was pretty simple for me. Get long at or in front of the .40 buyer. If it dropped, get the heck out. .40 continued to hold and I got more long into my maximum position (1500 sh., was this too little for a 2-3 cent risk?) I ended up taking a small loss but rebought at .38 (2/3 of the previous position). .40 showed back up on the bids where bigger prints were going off again. What I should've done was added to this position. I'm still learning on how to add to my ideas. I also coud've held some overnight. One of my favorite scans is to look for stocks with a huge opening drive followed by afternoon consolidation. Even if I decided not to swing it, I could've done a better job following up with it the next morning where it ripped 2 points higher. These are a couple of things I could've done better.

Here's another example of this that I want to share. Just yesterday on January 29 (I just had my best day, WOOT), I lost a lot of money and cool trading GG. Market was selling off on volume and I noticed GDX was rallying. I found GG to be best setup in the industry and so I watched. 41 held (pretty similar to the TEVA trade idea). I got about 1000 shares at 41.00  and was taken out at .95. Quickly traded back to 41 where I saw bigger prints. I got back in with an out at .94. Surprise, surprise. I'm stopped again with the low print of that candle. By the 3rd time I saw 41 hold again, I was too frustrated to give it another try and moved on to other stocks (which paid off). However, the stock did hit my target of 41.50 (previous day high where it sold off). If I were to do this over again, I would've saw the pattern of the 41 buyer dropping but quickly getting back to 41 (perhaps I could've bought those mid .90s and see how long it would take to get back above the whole). Also, I could've looked for a short from 41.50s. Hm, I didn't see this until now =) Thanks, Bella.