Friday, June 14, 2013

Update and my best ideas for 6/14/2013

I made a couple bone-headed moves in Thursday's session. Firstly, I initiated a short position in $SSYS although 1) it had not broken through its trigger ($81.00) and 2) the overall markets were bouncing like I had been anticipating the night before. Every now and again, I make some really bone-headed trades when I start getting over confident and this was one of them. I took a quick and some what painful loss as the stock spiked up to the low $82.00's in minutes which was the level I had set as my stop out point and that's where I got out.

After this trade, I was somewhat frustrated and when I saw a sharp sell off in $CSII, I sold it although it was no where close to my stop loss and the over all market was trending higher intra-day. I took a small loss on this trade as my planned risk was very small from the outset. I should have never sold out of this stock. It ended up closing well and still looks poised for higher prices; I was tempted to get back in but I didn't want to risk burning up a day trade on a stock which was not even one of my top 3 ideas.

Although the markets were very bullish for the entire session and I was seeing some nice set ups worthy of buying; I decided not to touch anything and that's exactly what I did. The only smart thing I did was to not sell $XRM which is my only position now:

Although I'm seeing many decent set ups; the stocks below are the ones I like the most and really want to add to my portfolio tomorrow if they can break out:

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