More Huge Winners – 50% in Less than Half an Hour – Readiness-To-Move – OPTT, YRIV

My challenge for myself this year – starting with a very very small account, and having to deal with (or maybe not?), the PDT rules. There are ways around it, I’m employing 2 of those ways, but the trade sizes then must be kept extremely small. Doing a small account is something I’ve never done over my trading career, so there has been plenty to learn, and I’m really enjoying the challenge and the experience. All of this was discussed in the conference call recently. The way I’ve set this up and approached this, I am avoiding the PDT rules, small position sizing, but I do a lot of trades.

Readiness-to-move:

Another detailed discussion of a huge winning trade today, that discussion first. Also a discussion of another type of setup I use – my “good close buy setup”. You hear the term – “it closed well” – thrown around by people. But 95% of the people who say this are clueless about the term. That is discussed in the last 2 charts below.

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First up is OPTT, which was a HUGE winning stock, for a couple of hours today. In less than 30 minutes I pulled 25% and then 50% out of OPTT – again in 30 minutes. Where else but the small, yes crappy dangerous stocks, can you get those kinds of UNLEVERAGED returns?

In a few previous posts I discussed my “secret” method to determine if these soaring early morning stocks are in UPTRENDS. If they fail the test, I call it a “range stuff”. And they become short candidates. Look at those other posts, I was 100% correct about those being bearish. Plenty of excellent profits to be made on the short side, if you had access to my work. And to a totally untrained person, OPTT “looks like” a range stuff early on.

But to start, look at the first chart, the 60, I had people all prepared for OPTT this morning – explained what the exact setup to use would be – and updated numerous times during the day. But I also said that this would be a very dangerous stock, and I also specifically told people when I believed that the top was in, chart #9, and that was an excellent analysis, as it fell over 50% from those highs.

Now to the long-side trade. In chart #2 – what did I say? “Even tho it “looked” very bearish at the time, I said “it’s reaccumulation…again, it’s reaccumulation…and I AM BUYING THE NEXT DIP. And I bought the next dip, my exact plan, the stock took off almost instantaneously and with heavy green bullish volume. OPTT then had a volatility halt – not a news halt – next chart. I gave my sell plan, sold 1/2, up 25%, moved stop to scratch.

Next chart, sold the rest, up 50% in 30 minutes, did NOT want to sit in this stock very long. I believed this was a HIGH RISK, HIGH REWARD opportunity. And again, all within 30 minutes. Do you have any idea what readiness-to-move even is? Are you going to put in the boring work to learn? If not, why are you in this business?

Good close setup, YRIV:

There are several factors I use to determine a “good close setup”, which to me is a buy trigger. A spring, absorption, strong trend for the day, closing in the upper end of the daily bar and a trading range analysis are all involved. The YRIV discussions on the last 2 charts.

OPTT:

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YRIV: Good close setup, sold in ah, and it certainly closed well, the stock was up another 25% in ah trade, I took my 12+% out, sold too early. Look at what time it was bought, this setup is almost always bought in the last 15 minutes.