Trade review 2-18-10

Big missed opportunity when I omitted at the last second for last night's watchers the stock that made history  today, CCTC, which went on a run for the ages. The rest of the day for most of us was watching the advance like moths tinkering with a flame. It was all I could do to keep from buying either real or on paper. It went on much longer than anyone could imagine before becoming short bait, but by then when one made sense no more shares were borrowable at IB for a real trade! Once again, IB fails but Think or Swim often succeeds in getting borrows at critical times for critical stocks like AENY.

I began the day mulling over playing for real a short of the deadening Supernovae play, RNN. XCHO, its twin, had seen too much downside so it was not seriously consiered. I finally decided it was not worth playing, but I papered it  for entertainment. I got a bad fill both directions with slippage but I made chump change to buy a cup of Starbucks.

I eyed a lame breakout possible OED with PACR which had broken through the day's high and had been basing/consolidating, but the volume was not inspiring. After hours of boredom and regret over CCTC, I was itching to trade, for real. The old Big T would have allowed such things to force a bad trade, the new one patiently reject anything but optimal setups or to paper them for action purposes. I papered it, and it went noplace, then I exited very near the close for a microscopic loss.

Then I switched sides and shorted the same stock as it failed on the breakout, because the day had been strong and I tried to outguess profit takers. I ended up holding the stock after the bell, and am up afterhours on the play decently! I plan to cover near the open or before to lock in these unrealized paper gains.

Many calls I made in picks posted last night and live in the chatroom played out nicely, but everyone in chat http://timalerts.com/chatroom/ was so drawn to CCTC, that today it was hard to look at anything else, LOL.

You can join Reaper, myself, and about 90 others at the above URL.

SLD 200 RNN Stock 1.2200 USD BATS 08:32:05 1.00
BOT 200 RNN Stock 1.2000 USD ISLAND 08:50:41 1.00
BOT 200 PACR Stock 3.87 USD ISLAND 14:41:03 BookTrader 1.00
SLD 200 PACR Stock 3.86 USD ISLAND 14:58:11 1.00
SLD 200 PACR Stock 3.88 USD ARCA 14:59:24 BookTrader 1.00


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