Wednesday, June 29, 2011

WNR - victory!


WNR hit it's target in 1 day - Glory to God.  Here's the chart:


I bought an August 17 Call yesterday for $1.55 and sold it early this afternoon for $1.90 giving me a profit of $0.35 with an ROI of 22% in less than 1 day's trading.  Sweet.

I usually trade around 3:45pm to 4:00pm EST, but I do keep an eye on the stock prices and when it hit my target I had to get out.  I have the ability to put on an order that will get me out at a certain price, but I like doing it manually instead - this way I'm sure to get the best price and not just ANY price when I exit.

Also, by keeping my eye on the stock prices that I'm currently trading randomly during the day I can capture profit before getting a pullback.  For example, I exited approx an hour ago and already it's starting to pullback.  This is NOT to say that it won't go back up to those prices that it hit earlier, because it PROBABLY will.  But, "A bird in the hand..."

Time to log this trade and look for the next one.

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