Confessions of a Day Trader: Catch a falling star and… catch a falling star and… catch a falling star
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Each Monday, Stockhead’s resident day trader gives us a peek at the highs and lows of his trading diary and hints at what might be coming this week.
Platform used: Marketech
Round Trip: $10 (previously $40 on alternative platform)
Rules of engagement: Never hold any positions overnight (unless forced) and try to avoid any suspensions (if possible). No shorting.
I keep peeking at my watch list and can’t find anything to help my trading urges. Everything has either bounced off levels I’ve missed or just not at any crossroad levels.
Missed the first leg-up in APT and the second one and CBA moved up from 82.00 to 86.00. Junior silver plays are through the roof on silver gaining favour. Stay away!
So end up without a single trade for the day.
Lots of press on short squeezes and all seems hype to me. Silver stocks come down with a bump, so I buy 100,000 EQE at 1.7c, as they are down from 2.2c and volume 38m in first half hour. Put in queue to sell at 1.8c and an hour after buying them taken out for A$100 profit.
Another mover downwards was URW, who were 5.50 yesterday on a short squeeze and down to 5.09. Put in an order to buy 5000 at 5.01 and then decide to buy 2,500 at 5.09 as they keep bouncing off that level. Time is 11.34am.
Sell them on a limit of 5.18 at 12.02pm. End the day +A$325 and silver helps add A$100 of that to the bin.
+100000 EQE at 1.7c; -100000 EQE at 1.8c; Profit A$100 (were 2.2c yesterday on silver pump)
+2500 URW at 5.09; -2500 URW at 5.18; Profit A$225 (were 5.50 on Monday)
CBA bolts away again today and a bit of bearish news for BNPL stocks makes APT very volatile. Not on big volume but big moves (see graph).
Buy 250 APT at 145.75. Time 10.49am. Sell them at 146.54 3three mins later.
Just sitting down away from desk and on phone notice NST are sold quickly down to 13.00. Buy 2000 and also sell them three mins later at 13.05.
Buy and sell 2500 Z1P. In at 7.86 and out at 7.90 and then the real fun begins for me. I buy (back into) 2000 NST at 12.79 for the bounce back to 13.00?
Then 2000 at 12.66.
Then 4000 at 12.57.
Then 8000 at 12.41.
They just keep falling so keep averaging down till owning 16,000 at 12.52875 average. I then have to wait to one min before close to sell them at 12.51. See graph for movements and volume. Was down A$2000 at one point and finish down A$300 on them.
Overall up just A$97.50 before brokerage and big swings. Phew!
+2500 Z1P at 13.00; -2500 Z1P at 13.05; Profit A$100
+250 APT at 145.75; -250 APT at 146.54; Profit A$197.50
+2000 NST at 13.00; -2000 at 13.05; +2000 NST at 12.79; +2000 NST at 12.66; +4000 NST at 12.57; +8000 NST at 12.41; -16000 NST at 12.51; Loss A$200 (big volume of 43m)
Turns out to be an interesting day. A couple of big fallers from the opening are ORG and AGL.
At 10.54am, ORG are down 8%, so buy 5000 at 4.55 and at 11.04am, buy 2000 AGL at 11.08, which is down 6%. Keep watching both as they are moving my way.
Sell the 5000 ORG at 4.59 for a A$175 profit and sell the 2000 AGL at 11.15, for a A$140 profit.
Time is 11.20am. Cooking with gas on these two I think to myself but nothing else looking as puntable. Overall plus A$315 for the day.
+2000 AGL at 11.08; -2000 AGL at 11.15; Profit A$175 (were down 8% when bought)
+5000 ORG at 4.55; -5000 ORG 4.59; Profit A$140 (were down 6% when bought)
Wait till just before 11.00am to look around and see FMG fall below 23.00 and trigger a few stop losses, so buy 3000 at 22.975. Had to be quick as they bounce nicely and a min later I’m out at 23.03.
Time 11.03am. Itching to buy some NST at 11.85, which is down from 13.00 on Wednesday. Decide to pay 11.865 for 2000 at 11.06am. Three mins later and I’m out at 11.92.
Come back over lunch and click around my watch list and biggest fallers for the day. At 2.09pm, buy 2000 NST at 11.75 and wait and watch.
Get a come down the pub call from a mate, so sell them at 2.40pm for 11.78 and head out knowing up A$335 for the day, so my shout.
+2000 NST at 11.865; -2000 NST at 11.92; +2000 NST at 11.75; -2000 NST at 11.78; Profit A$175
+3000 FMG at 22.975; -3000 FMG at 23.03; Profit A$165
Gross profit for week: A$1072.50
Net profit: A$902.50
Most satisfying: AGL and ORG
Least satisfying: The whole of Monday