I usually don’t do as well as I’d expect (or like to!) on days like today when the market bolts out of the gate and never looks back. That’s because I wait until after 10:15 to enter positions and a good portion of the move was already done by then. For example, the Nasdaq gained 34 points today but had already gained 25 points by 10:00. I find it interesting that I could have a record day two days ago when the Nasdaq barely moved. Go figure.
Anyway, I took 5 trades today and ended with a gain of 2.34*R or 1.17% (contrast that with the 7.08% I made the other day!). I had winners in MRVL, DNA and BRCM and losses in PLAY and GNSS. Here are the charts of DNA, MRVL and PLAY (comments on PLAY in the next post…):