Hello everyone, today wasn’t crazy exciting but it was eventful. I made two trades on lower cap stocks this morning and both were profitable. First I have to start off by saying that on my ThinkOrSwim I have a watchlist where I have specifically placed stocks that are easy to barrow so that if an opportunity arises I can short.
My first trade was on ticker symbol MDR. I placed a short trade on this stock after seeing it on my PreMarket Watchlist, and waiting for an opportunity.
As you can see, Premarket MDR started to spike. While watching this stock It became weak right at the beginning of the trading session. I waited for a pullback to the upside before placing my trade short 300 shares. My entry was @ $2.68 cents on the red candle seen in the chart below, and then I covered my position around $2.28 cents! overall profits on this trade was $143.00 dollars. See the chart below for the trade!
The second trade I placed was Botched the first go round when I placed a Long order of 500 shares on BIMI. The stock Quickly rose .18 cents and when I flattened the price had dropped back below my entry…….eh.. it happens. I left BIMI on the screen though as it was still of interest with the amount of above average volume trading and a momentum to the upside.
Although this chart doesn’t look like much I was able to squeeze out $87 dollars of profit from this one (I know its not a million bucks, but it’ll do for me…..lol) This stock basically was repeating itself dropping and then resurging. On the second resurge I jumped in with 300 shares this time @ $6.96 cents and was able to exit this position @ $7.31 cents. I jumped in a little premature on a dip and went into the red for about a minute before the trade turned into my favor! Overall I took this trade from being a little in the red to having an overall profit of $87 dollars. See the Trade below.