I made $11,363.67 Tuesday but left $36,000+ on the table. That’s what we’ll focus on for today’s teachable moment.
My first mistake was sleeping in and missing the $2.20’s exit for 70% on MLNT. Sure I landed $10,000 in profit but had I been awake by 7 a.m. ET Tuesday it’d been over $20,000. Snooze you lose! I was up at 4 a.m. ET today!
My second mistake was not being more aggressive with my $4.23 entry on AMRS which later climbed to $5.84, never once breaking my defined stop loss of $4 after my entry. That’s $1.61 / share potential on my 15k shares or 38% $24,150 in potential profit on that alert for me. Instead I made table scraps. I should have at least been more aggressive with my remaining 5k shares after locking up $2,000 on the first 10k shares.
This was a gap and go or gap recovery and go strategy from my video lessons in which I simply identified the biggest winner on Wall Street premarket and bought it just above a major support. Notice the wedge later in the day? Often when I send you a momentum alert — that’s exactly what I’m targeting right there — major pivot on a stock that triggers a big move accompanied by heavy volume. You can learn a lot from this one trade idea I sent yesterday, even though I only made $1,500 on it.
Moving right along. Plenty of great setups this week so I’ll continue to trade aggressively, targeting Fibonacci retracement patterns headed into the weekend.
ARLO, UXIN are the breakdowns I’m watching. I’m already in UXIN and ARLO will probably take a few days to settle before I’m interested. These fish hooks (oversold stocks) often whipsaw to generate massive and predictable returns in just a few days. There aren’t many breakdowns right now since the IWM (small cap index) has bounced from the $125’s to the $151’s in about a month.
SPI, TMDI, OCX, TRVN, OHGI, TMSR, BOXL, MLNT are the breakouts I’m watching. These rest and retest patterns (Fibonacci retracement) can be extremely lucrative, often delivering 20%+ the same day.
See what I mean? Tons of breakouts are in play Wednesday.
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[Ed. Note: Jason Bond runs JasonBondPicks.com and is a swing trader of small-cap stocks. In 2015 he earned a 180% return on his money. Then in 2016 he turned a $100,000 account into $430,000! Discover How He Did It]