After weeks of talking about it and anticipating what my total might look like at the end of it, I’ve finally managed to top the longest green streak of my career with the highest daily profit of my career.
Last Friday was my 56th consecutive green day of trading and I ended up ending it with a gross profit of $225,000, which easily blows past the $1 million mark for the streak and is several magnitudes better than the profits from the streak it replaces.
Then I started this week with a red day...that’s just how it goes sometimes.
Luckily, it was a relatively small red day when compared to the green days I’ve been having at just below -$10,500 in losses. It almost seems astonishing that, just a few months ago, losing $10k in a single session would have been a major hurdle for the month. Right now that’s less than 5% of what I had made the previous trading day.
Still, the months since my last red day didn’t make the loss any less frustrating, especially since my opening trade in Sintx Technologies, Inc. (NASDAQ:SINT) put me down on the day by -$4,500. The stock seemed over-extended before the open, but I was hopeful the momentum would carry it after the bell. Unfortunately, I was mistaken and took a-$0.22 loss on 20,000 shares
The second stock on the premarket scanner, Evoke Pharma, Inc. (NASDAQ:EVOK) looked to have a bit more potential, but it also didn’t have the support to maintain levels above the premarket rally.
In the end, I only started making back some ground thanks to stocks that popped up on my high-of-day momentum scanner. That’s how I landed a few winning trades in Neonode Inc. (NASDAQ:NEON) and Francesca's Holdings Corporation (NASDAQ:FRAN). Still, I wasn’t able to find any real home run stocks like the ones I’ve been having success with through the first few weeks of June.
While I’m taking the loss in stride, the circumstances of lower momentum and a lack of follow-through have made me think more critically about my share size and what opportunities I should pursue. I’ve played around a bit on my Trade Ideas scanner to get a better sense of the stocks that are exhibiting the most strength in the current volatility and I plan on remaining flexible since things have been so wild over the past few weeks.
We’ll see whether the market is starting to come to grips with itself or if we might be in for another crazy month of momentum in July. Until then, I’m going to try and maintain a more even-keel approach to my daily wins, which still means some big green days could be ahead.