Weinstein Trading and Fading

[Robert Weinstein]

As I write this I am trading RIMM in AH trading

Its been a while since I made a post and I am hoping that I will be able to continue with atleast something every day again.

RIMM fell off the cliff after earnings came out and I waited for the panice to ease and then I started buying but in very small size. I did pretty well and it added to what was already a good day and the best day of the week (every day this week has been profitable actually)
RIMM + 299

I found an error in my programming with some changes in my code for my scanner so I believe I have missed out on some trades this week but it also meant that I was able to make some improvements and so I think I broke about even on that deal.

I don’t normally trade IPOs but found some value in trading AONE to the long side. I kept the size small and only took part in the very beginning while it was still ‘red hot’.
AONE + 629
The rest where gap up trades and these have been my bread and butter lately.
AM + 84
RHT + 442
SLM 2

+ 1458

I have no idea what my numbers are for the month as I have been busy with schoolwork, actual trading, the new baby(can you have an old baby?), and my other sons who would like to see their dad once in a while. I will figure it out after the month is done and I can run a report with IB. Otherwise its been a lot of getting up at 6:30 and going to bed at 12:30 – 1 am and hopefully that will ease up soon.

 

[Robert Weinstein]

Hey I am back. Trading better than ever and feeling good about it. I have kept my blog going most of the whole time since I last posted here but I feel like I have something to offer once again to T2W so I thought I would start up again...



Well today was a pleasant change of pace. Very busy for most of the day.

Today was the big GM IPO and all eyes looked upon it to see where it would trade. It opened well and traded nowhere for the rest of the day except with a falling bias. It didn’t close at the very low of the day but it came pretty close. It is not a big surprise why some funds backed out of it when the price was raised at the end. Those that where allocated shares which did not include white male veterans without connections made some nice coin regardless of when they sold but for those wanting to buy today and make a buck it was much more difficult. I did trade GM as well as F and did alright with both. GM was strictly long as I could not get shares to short (IPOs can’t be shorted by the average person the day of the IPO) so I kept the targets very tight. F on the other hand was shorted on all the trades and while many may have pair traded the two I traded them separately.
NOV gave a intraday dual 10M bar overbought signal and I shorted it. I covered some at an even round number but waited to get full target for the rest. NOV then moved up beyond that and I faded and covered it through much of the day until it finally fell off the cliff. When NOV did fall it fell hard and fast and just short of getting a B9 short signal.
I went long ASTM after it was halted and almost closed out the trade at a loss when I found out that TS charts where stuck and I was looking at a chart that was not updating. I moved the stock to another chart and it updated so I stayed with it but closed out near breakeven as I had already started covering at a loss due to the charts. Sometimes its just better to clear out a trade so you can get your head back in focus then to try to make money on a trade that is having problems.
CRM was an after hours trade that I made from a call out from chat. Another good example of how being in a chat room can really pay off.
DLM was near the end of the day when it gave off a B9 short signal and went way beyond the 10M entry price. I shorted it pretty hard and while I didnt get full target due to the closing bell coming up quickly I did so well that it turned into the best trade of the day. I believe it was moving higher due to a buyout rumor. I sure do love the rumors at the end of the day. They can really move a stock.
LPLA was a goldman sachs IPO that I traded / scalped when it moved down below the opening price. You can coulnt on GS to make a stock move back and forth on an IPO and generally move higher than the open.
NTAP was the stock that I was stuck long in during the halt yesterday and it gave me a short signal today. Traded small but another one in the win category.
ASTM + 13
CRM + 196
CVC + 35
DLM + 637
F + 131
GM + 137
LPLA + 110
NOV + 322
NTAP + 68

Tomorrow is option experation day and I have quite a few COCO options that will die out tomorrow. Some in the money but still green 5Puts included. I plan on writing some 5 Dec and/or Jan Calls into the close to hedge the stock I will have put to me. I really like this one and don’t mind having a few more hedged shares.

+ 1653

 

[Robert Weinstein]

Another busy day and an end to a very good week.

No wammies this week as I closed out without a losing day and maybe (didn’t actually check) without even a losing trade. I did come close with LORL today though. It was one of those trades that had I waited for the setup I would have killed it but I tried to scalp it for the large spread and found myself almost spread doing it.
DLM turned into an ATM machine one again today after gapping higher today when it closed yesterday with a B9 signal. CPWM was a late signal trade that I stayed small with. CRM was a strong stock all day and with the gap up it gave me a short signal and I closed out a little better than normal but it is a big stock and I may have been able to make a little more I was happy to get what I did. EXXI played a lot of games with me and it just missed the B9 signal but gave me a double intraday 10m overbought but didnt pay off as much as I hoped for.
HIBB gave me a signal and I even sold the very top but I shorted 100 shares so I didn’t net a big gain but I did make a big per share gain.HNT was a long and I closed a bit early due to the amount of time left before the closing bell.

I have a bunch of COCO and some C options expiring this weekend. Some will be calling away some stock (mostly C which I will wait for a retrace below 4 to load up with again) but I will net gain COCO stock in my trading account and will be offering either the 5 or 6 Dec or Jan calls against. I am currently leaning towards the Jan 6 as I really like this stock.

I have been without stockfinder for a few weeks now and it appears I will have to get it again. Too many stocks appear to be missed that I think stockfinder would have caught and I wonder about how many stocks I would have traded that I simply don’t know about.

CPWM + 10
CRM + 286
DLM + 474
EXXI + 76
HIBB + 52
HNT + 49
LNG VIA OPTIONS + 17 (I am still short this and will have stock put to me resulting in being net short. It will be interesting to see what happens with this as IB does not have stock to loan me. I did cover 200 of 600 shares in afterhours but the other 400 in bids did not get hit. I will be trying to cover in premarket on Monday as I do NOT want to face how IB will take care of this as I expect they will not care in the least about my PnL)
LORL + 221 (as someone in the chat asked “do you have a horseshoe up your butt….I think I might after watching this trade)

COCO Nov 5 C + 24
COCO Nov 5 P + 78
I have a bunch expiring in the IRA accounts but do not count them here.

+ 1323

 

[Robert Weinstein]

Great day but most of it happened right at the open

EXXI gave a gap up after B9 short signal and quite a ways beyond the entry in pre-market trading so I started to short it and scalped a little bit and built up the short. The price fell off the cliff as soon as it opened and 92 seconds later I was out of the trade all the way. That was the fastest I have made gains at that rate in a while. I didn’t get another one as good but I did get a few more trades today that were worth while.
TIN gave an intraday dual 10m bar overbought signal and I shorted it and made the target.
RVBD gave a B9 and did ok with it. I didn’t trade very shares with it and actually I didn’t trade very many shares at all today.
My weekend take home (via shorting calls) turned out ok but for all the wrong reasons. once again I ran out of shares (although I was able to short some shares) but I was able to short some DEC calls and did well with them.
MEE was actually a long as I heard the news before fly on the wall called it out so I thought I could grab a small amount and that worked out well. Someday I probably should get a bloomberg terminal and really have an advantage.
ROSE is an overnight short based on shorting above into the B9 signal.
EXXI + 1042

HPQ in after hours + 104

LNG + 9

LNG DEC 7.5 C + 117

MEE + 82

RVBD + 93

TIN + 54

+ 1505

 

[Robert Weinstein]

Went through another trading halt today. That makes it two in one month.

Kids went to grandma and grandpas for the night so it is date night for me and my wife. As such I will make this kinda quick.
I am currently short GES which I expect to take a hit on tomorrow unless I really do have a horseshoe up my butt. I guess there is a chance it turns out ok but I can’t say I am very hopeful. I am also heavy short CRM which on the other side of optimism I am very hopeful will turn into a winner. I actually bought the puts instead of writting options on this trade. I have 12 contracts of the DEC 140P that I paid 5.50 for. Looking to make a buck a contract as the target but will be very happy with anything above 50 cents.
CMC + 45
GES – 16
JCG + 424
NUAN DEC 19C + 117
NUAN DEC 20 C + 132
ROSE was my overnight from yesterday. Covered shortly after the open + 229
SIG + 20
SODA + 164

+ 1119

 

[Robert Weinstein]

Made a mistake and paid for it.

The oil numbers came out and the inventory build was greater than expected. This in turn made me believe that the price of oil should go down. I shorted oil and it went up and I faded it and it kept going higher and higher. I didn’t have a signal and I just “thought it should go down”. This is something I know not to do as my thoughts on a price are no better than a coin flip or if better probably not by much. This along with my normal style of fading which works great with my signals does not work well without a signal. Oil reached 84 and after getting up out of my seat and taking a deep breath I said to myself “you do not have a reason to be short oil” and I closed out the trade. That was the only part of the trade that I did well as oil kept going higher and as I write this oil is at 84.175 bid.

My trading has been going very well and why I took this trade and more importantly how to maintain 100% of the time that I should only trade my setups is something I will have some time to think about before the market opens again.
My overnight worked out well but I was not fast enough to get my target gain. I did make out alright with it and overall happy but will try to improve the results in the future. The future will be soon as I took another short with CRM via buying puts into the close today again.

I did ok with GES except IB had an issue with quotes this morning and I was not able to trade it correctly (no quotes at all) so I did my best using tradestation for quotes and simply closed out the trade.
Soday was one of the only trades today (that I should have taken) and did pretty well considering the small size
VHC also was a 10m double overbought signal that I faded. Overall I am up somewhere in the 9-10K range (I dont know the exact number as I am trying not to focus on the numbers but rather on the trades) for the month after the setback today so while I am not totally happy with my trading today I am glad I am still going in the right direction overall.
CRM DEC 140p + 510
GES + 22
QM oil – 5119
SODA + 79
VHC + 55
- 4451

 

[Robert Weinstein]

I was done trading in under four minutes today so not much to say.

The only eventful event was once again when I tried to cover the puts I bought during the close of Wednesday for CRM I was unable to execute my trades. The bids where there and the exchange picked was “smart” but due to another failure of IB to transmit the order to the correct exchange I missed out on the best prices that I could have received. Based on the last time talking to IB staff I should use directed orders to the exchange that is posting the bid I want to hit but to do that manually is easier said than done. I would rather IB just make their software do what they claim it can.
CRM Dec 140P + 296
CRM DEC 145P + 357

I would have taken another short position with CRM during the close but my wife made it very clear to me that I was to be at dinner by the time the market closed and I needed to drive a half an hour. I did put some orders in but needed to be extra conservative due to not being able to monitor the orders into the close. I missed getting short but I kept my wife happy. I guess in the grand picture that puts me up for the trade : o )

+ 654

 

[Robert Weinstein]

Once again a slow Monday. I did have a few trades but nothing that really ran hard.

I did a lot of shares with AMRN and faded the gap higher. This would be a good example of how being with a cheaper broker would really matter. I had plenty of buying power left and used very little leverage when IB would not allow me to short any more of this stock. I am not really sure why this was but I had to adjust the way I was trading it and it cost me some gains. CEU was halted but not before I traded and faded the move lower. I didn’t get very big and expected further downside so I only scalped most of what I did buy. I did have 200 shares that did well and bring in the bulk of the gain. LEI was overdone and faded the move. I didn’t get to crazy with it as its not much more than a penny stock.
AMRN + 345
CEU + 89
LEI + 191

+ 625