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Warrior Trading Blog

Nice day for $HTZ and $CAR

nice day

Nice day for $HTZ and $CAR

 

 

Alright guys, time for our mid day market recap. We’ll go over the trades from today. Today was a pretty slow day. I kept it simple, I only took two trades and … Hang on, for some reason I cannot type my password and talk at the same time. So, alright, getting myself logged into Lightspeed so you guys can see my PnL for today. I was up 990 bucks on Hertz, gave back 540 or whatever on my second trade, only finishing the day up $414. So green is good, but not as green as I would have like to have been.

So let’s look at those trades on HTZ. Now HTZ actually was not on my watch list this morning. It was gaping slightly but it’s not a stock I would typically trade. HTZ is usually very thickly traded, the float is outside my range, the price is outside my range, but as soon as the bell rang we saw a good move. We saw a pop from $15 all the way up to a high, as you can see right here of $16.58, so as it pulled back right here I got in at 41 with 7500 shares. So entry right here … Oh, actually it was 42 and 43, 7500 shares.

It pops up to a high of sixty-something. What was it? 69, I tried to sell on the ask, I put my order out with a hot key to sell half on the ask, no fill. Put the order out again to sell half on the ask at 65 as it dropped down a little bit, again, no fill. Bailed out on the entire position at 55, which was 990 bucks. So good trade there.

And then the second trade was getting back in for the first five minute candle to make a new high, which is usually a pretty good set up. The entry was right on this green candle here. First candle to make a new high, I got in at 71, it pops up to 81. You can see here, entry was 71, 72, 5000 shares. Didn’t hold that level. Stopped out at 60, kept the stop tight, but then of course a little annoying because you can see it ended up coming all the way back up to 17. It just pulled back a little bit and then it went. So I was just a little bit early on that trade. I had the right idea, but my timing was a little off, so that’s okay.

Alright, so today is the 140, I believe it’s the 145 day of the year and I’m finishing up $414. So nothing to write home about, it’s nothing incredibly impressive, but like I said, green is good, and like John said earlier today, there’s a lot of people out there who are gonna work all day long and they’re not gonna make even $400. So to do it in the first hour and a half of the day is not bad. So don’t want to take that for granted. Definitely a good day. The only thing that’s difficult is that it’s been a choppy week and a choppy month. We haven’t seen really good follow through, and so I’m still in the red, which is not something that I like.

Now I talked about this earlier this morning. I have a history of getting myself into the red on the early part of the month, and the reason that’s happened to me is, in the past, is because in the early part of the month I was so desperate to build up my cushion that I would do something stupid, something sloppy and I’d end up giving back, I would end up taking a big loss. Now the beginning of this month hasn’t been like that.

The beginning of this month I’ve been getting into trades, seeing what I thought were decent quality set ups, but the market has been very choppy. So I buy at the breakout point, it pops up and then drops. And that’s happened continually, so obviously I’m hoping that we see better and better opportunities in the market and I can kind of get out of this little slump that I’m in, but as I’ve said a million times, this is part of trading. This is also the reality of almost any career you could have, that you’re gonna have some ups and you’re gonna have some downs. So you just have to be able to ride through it without getting frustrated or super emotional knowing that on the other side of this inevitably will be a hot streak, so that’s the good news. And I just hope that it starts soon because that’ll be, that would be a really nice way to finish the month of August and to finish the summer.

Last summer was great. I made $96,000 in June, July and August. Last August I made thirty, about $30,000 a month pretty consistently, and this summer has been slow. Like I said before, it’s not really a seasonal thing, it’s not like, “Oh, summers are always great,” or, “Fall is always great.” It’s cyclical. There’s cycles in the market. We go through hot cycles and cold cycles. Right now we’re in, for day traders, a little bit of a cold cycle.

Overall market is, been maybe not helping with the overall market of course being right, right up at all time highs. Oh, I could decline that. The overall market being right, right up at all time highs but unable to really hold those levels and I think there’s definitely been some indecision and nervousness among investors just with everything else that’s going on, so that’s probably weighing on people’s minds a little bit and so maybe a little pull back here down to the 50 moving average on the daily would be healthy and then we can kinda ride the rebound back up.

So I had a couple swing trades that I was looking at but then with the way the market dropped yesterday I didn’t want to take any trades. So right now I’m just gonna let things pull back a little bit. Consolidate. I want to make sure I get good entries because, you have your technicals but then you also have to worry about your fundamentals. So you’ve got two things to worry about there. But my hope is that by taking a couple of swing trades, that can offset the slowness that I’m seeing on my day trades.

So, anyways … That’s really about it for today. It’s very kind of straight forward day. Two trades on Hertz, both were bull flag set ups. One winner, one loser, didn’t go back in for the third try because I didn’t want to give back all of my gains on the day. Wanted to make sure that I walked away today with some profit, and I think that was the right move. So green today, $415 on the 145 day of the year.

Alright guys. So that’s about it for me. Just calling it a day here for day trades. A little on the early side and I’ll be back at it first thing tomorrow morning.

Oh hey, I didn’t see you there. I was just working on the dream board for my next home run trade. Hopefully it comes soon. Until then, make sure you subscribe to get email alerts any time I go live or upload new videos. Until then, happy surfing.