In One Good Trade I wrote how I hated the way SNDK traded in the mid 2000’s. You could tell me what direction GS was headed and I still might not make money. Steve during his StockTwits TV broadcast called GS “one of the worst piece of $hit intraday trading stocks.” And he went to Wharton. During our SMB AM Meeting Steve talked about how he had previously placed JNPR on his banned list. Then proceeded to talk levels for those who still found it kosher. Today, right now, in this blog, I hereby place JNPR on my banned list.
I am down too much money in JNPR as I write. It hasn’t moved. For the veteran pro trader oh does this make you frustrated. This is an unforced error in tennis, the jumping in the air and then passing turnover in basketball and not covering first base on a ground ball to the right side as a pitcher in baseball. I am all green with LVS, RVBD, WLP, WFT, MMM, AET. JNPR? Decidedly red!
Short JNPR when it was holding the 25 offer, stopped out 2c 6c 11c. Twice! JNPR held above 25.20 so I got long. Stopped out. JNPR broke to the downside. Short 79, 83, 87, 89. Stopped out 2c 3c 6c 11c. The no trend is not my friend.
What makes my banned list? A stock in which I do not have an edge and cannot make adjustments to gain an edge.
What stocks are on your banned list?
What I am watching:
Watching to see if MMM can hold below 88. Want to see if WLP can hold above 70.50. If RVBD holds below 29.37 maybe it will find 28 over the next few days, AET below 42 is a go. Leaving LVS to others. SPY 132. Keeping my ears open for other trading ideas.
One Good Trade
Hi Bella, thanks again for sharing. When you get stopped out of a at different levels (the 2c, 3c, 6c, 11c) of a stock, did you sit those stops right after you got into the trade as market orders? or would you try to bid at these levels on the fly? Thanks.
Today I was trading ten stocks at a time so I had to set auto stops. Usually I might manually trade out. Thxs for following us.
Thanks for the valuable insight
Rough day for me aswell B. Stopped out twice and said “done”. Tomorrow is a new day.