Weinstein Trading and Fading

[Robert Weinstein]

keep yer hands off Susan Li !!!

Oh yes, Susan is very nice. As I am one lucky guy to be married to my wife and I am getting older, balder, and fatter by the minute I think I will be grateful that the only flaw in my wife is that she was crazy enough to marry me.(kinda a big flaw when I think about it....)

BTW, LMAO at your yourtube video "How to speak Norn Iron" funny as hell !!

 

[Robert Weinstein]

Today started out fast and ended pretty good as well.

CTRP which is a company I like and have used during trips to china gapped up big today. I was able to trade it for about nine minutes today. Not my biggest gain but one of my best on a per minute basis….LOL

CTRP GU, + 3431

WINN moved up to over 32% higher and went over 15 a key price during the last hour of the day. It appeared to be the last blow off of the day and I stepped in and shorted very near the HOD. It played with my ave price a bit before finding the way back down but was pretty smooth all around. Thanks Jake for calling this one out.

WINN DS, + 512

POT DS, + 473

+ 4417 Day

18K shares

 

[Robert Weinstein]

Change in trading today. I made two longs today

Pretty much the most long trades I made this year.

I did have one short today with CME and at 275 a share its save to say that I kept my size small.

MGM, wow down 30% at the time I am writting this. The wire I listen to gave an update with SnP and it appeared SnP was saying good things about MGM. It appeared to me that the sell off reached its full panic stage and so I stepped up to see if I could get ‘lucky at the casino’ and did ok. I scalped it as much as traded it and kept my size small as well.

MGM + 129

DPS + 3

CME + 543

+ 676 Day
+ 5093 Week
- 22513 Month

~ 5500 Shares

 

[Robert Weinstein]

Even with the market moving up nicely it was more or less a slow day

I did have one really nice trade though that makes the whole day.

GIL gave me a very nice short signal and while I entered in a little early it worked out just as expected. At the HOD it was up over 30% for the day and it didnt even gap part of that. Not sure if its a record day trade for me but I think it is (I don’t keep track) and either way I am happy with it.

GIL B6+, + 4930

AMSC DS, + 249

+ 5180 Day
+ 10273 Week
- 17333 Month

~ 41K shares

 

[zxlynette]

Question:

GIL got some news today.Open high and keeps going up,so i am very confused about your short signal.Could you please tell it to me?I guess you short at 13.50 at about 1:00PM?

 

[Robert Weinstein]

I watched closely the pre market trading of RHT my Friday carry over.

While RHT did trade higher in premarket it didnt take long after the bell for it to fall back down and I was able to cover for a nice gain.

The Indian stock market had a great day last night after the election results.. Indian stocks here where sure where having a great day as expected. I ended up trading IBN and TTM and doing ok with them.

Last stock that came up was DDS which I shorted seconds before the close to carry over to tomorrow. I would not have noticed it but it was called out in the chat room and another guy shorted it as well.

RHT + 774

TTM B6, + 720

IBN DS, + 225

+ 1721 Day / Week
- 15217 Month

 

[Robert Weinstein]

Question:

GIL got some news today.Open high and keeps going up,so i am very confused about your short signal.Could you please tell it to me?I guess you short at 13.50 at about 1:00PM?

In a very quick nutshell I trade in much the same manner that a market maker will. I fade moves higher by selling into it and buying into moves that have gone too far to the downside.

Of course the trick to that is knowing when to start scaling in and by how much at each level. If you get in too early you can get burned pretty hard and pretty fast. As a result I am highly selective in my entries.

Best of trading to you

RW

 

[Robert Weinstein]

My small carry over from yesterday with DDS worked out ok.

I did expect to get more out of DDS but it found support and I found the exit. It appears the timing was good too as I covered within a few pennies of the LOD

The rest of the day was interesting as several stocks really caught on fire. With the bigger priced symbols I stayed small and kept my spread wide and that paid off. ASIA on the other hand was expected to be a lot more profitable than it turned out to be. ASIA was qualified to be kept overnight but with about 10 mins of trading left I closed out for a small gain.

I traded SYDA several times today and each time it smiled at me. The end result was a very nice gain at the end of the day.

DDS + 80

SYDA + 1729

GIL + 1377

ASIA + 270

+ 3458 Day
+ 5179 Week
- 11759 Month

 

[Robert Weinstein]

Carry over with UHS went well. Covered too early but still a good trade.

Had only three more trades and one of them is a swing short via options on ASIA.

UHS + 980

TECD B6, + 302

INTU B6, +820

thanks to Aces in the chat room I was able to get one trade off in after hours trading from earnings. Afterhours trading can be very good if done carefully (I guess all trading needs to be careful)

ADSK, Afterhours + 140

SHLD went wrong in many ways but I did actually make a few pennies so I guess it wasn't all wrong. I missed the top by a few cents and then when trying scalp it I kept missing as well. My wife ended up calling me at the office to find out when I was coming home so I just closed it out and called it a day.

SHLD Afterhours + 70

I also started to scale into an ASIA jun 22.5 calls short.

+ 2314 Day
+ 10392 Week
- 6546 Month

 

[Robert Weinstein]

Today had the makings for a slow one as Monday is a holiday.

Today ended up being even slower than expected. Nothing moved that I was interested in and I stayed flat for much of the day. I did make a trade with SKF but it was small in size and meant to be just a scalp.

SKF D1, + 51

+ 51 Day
+ 10443 Week
- 6495 Month

 

[Robert Weinstein]

Only four days left in the month and I am wanting to end it on a good note.

I started the day looking at what was moving and also looking at oil. Its appearing to me that oil has a lot more upside potential than downside and while I don’t see energy prices going higher in Asia due to a slide in the dollar I do think its finding a lot of support if it moves down. With that being said I am looking to sell oil put options and not take a full short position.

HOT B7NQ, + 44

NTAP gave me a short signal pretty early in the day and then went my way right away. Didn’t give me my exit target and started to move back up against me. Sat for hours watching it move back and forth for hours. Still short NTAP going into tomorrow.

Today is the first day in my new office. Spent much of the day while waiting for NTAP to do something filing and organizing.

NTAP B7, + 5

+49 Day / Week
- 6446 Month

 

[Robert Weinstein]

The countdown continues with the race of time between the month and my PnL

I traded the hong kong futures last night and while I made a little money it proved to me once again its not worth it. At least not the way I trade it.

Very frustrated with IB not having MAPP shares to short. The first move over 13 would have been such a sweet entry. I guess IB overall does a good job of having inventory to short but when they don’t and others do its still frustrating. No options on MAPP either as I looked for that method. Oh well.

I had a carry over from yesterday NTAP which was kind enough to start falling soon after the open.
NTAP + 710

RL gapped up and also gave a short signal during the move up after the gap. Scalped some and traded some and ended up doing alright with it.
RL B7, B7G, + 1362

HSM is a low volume stock that I kept my scale in wide and my profit target small that worked perfect and was very small sized.
HSM B7, + 295

TSRA B7NQ, + 244

Ok, two days to go to climb out and be positive for the month. I been trading really well so I just need a few more opps to get there
+ 2613 Day
+ 2662
- 3833

 

[Robert Weinstein]

Started out the day flat outside of my swing trades.

I even went to bed early last night which is unusual but after my all nighter with the hong kong exchange the night before I was ready for a full six hours.

I was told in the chat room by another trader that uses IB that MAPP was now available to short. I was feeling like a dollar short and a day late but MAPP was able to get it up again today and was wild about it. Traded it several times (three times as I write this in mid-day) and made some nice gains.

MAPP + 2219

TSRA is a stock I scalped yesterday while it had a great day. After it was on Mad Money last night I guess others liked it also. Today being the third day higher on great news I think it may take a rest before its able to keep going higher. As a result I shorted the Jun 25 Calls for an average of about .65 each. while I intend to close out tomorrow and just shorting the stock may be a better choice I may also hold until Monday and then the options make more sense. Assuming I can sell at the ask and cover at the bid. I sold at a near ask bid so I am about even on the entry part.

GM was halted today. Also news came out (after my trade) that it was going BK on June 1st. Not a day too soon in my book. what a waste of money and proof that DC has no clue but has the checkbook. What everyone that wants to save GM does not understand is that something that could be profitable and add to the economy would take its place. DC in its quest to avoid all pain at all costs is sending us down a path of a lower standard of living for everyone in this country as we borrow greater amounts of money to keep this dog on live support. glad I am teaching my sons to speak Chinese as they will need it. I took a quick scalp with GM after the halt was over and was very quick to get my assets out. Also stayed small as being long GM at any point is full of peril .
GM + 50

GNK gave me a signal to trade and it didn’t take long for it to move my way but it didn’t quite make it to my target price before going back to my entry area. Tried to close out before the bell but it didn’t quite make it to that price either. I am comfortable holding overnight so we will see how that works out.

one day to go for the month. I have a few trades on going into tomorrow with the options and GNK so I would give myself about a coin flip in being in the black for the month. I think I will use my lucky coin to make the flip......

+ 2269 Day
+ 4931 Week
- 1564 Month

 

[Robert Weinstein]

Last day of the month and I have a carry over from yesterday that I am hoping will provide some good gains.

GNK started out higher and in fact before it was done went so far up it gave another short signal. That put some heat on me but at the same time I kept my size manageable so it was not too bad. As expected GNK price came back and I covered near the LOD and did pretty well.

GNK + 1306

I shorted some more TSRA options at 80 cents and then started to look to cover at 60 cents today. More than willing to carry over the weekend and in fact the reason for using options is that I expected to carry over to Monday. I did cover five at 65 cents
TSRA jun 25 calls + 15

JCG gapped higher today and I traded it off the opening and then again around lunch time. Currently scalping it as I write this

JCG DSG, + 327

CTRP gave me a short signal but I made a mistake in entry and ended up in it sooner than I wanted. corrected my mistake by adjusting my covering price. I traded it a second time with a valid signal and made the bulk of the gains for the day.

CTRP + 296

I was even able to regain the hit I took at the begining of the month and close out at a slight gain. Although I won’t be doing the math to see what my hourly rate was. Still, a great way to start the weekend with an up day Friday.

I still have some option trades on and they are all positive so life is good.

+ 1945 Day
+ 6876 Week
+ 381 month

 

[Robert Weinstein]

Start of a new month and the biggest thing today on the news is the GM bankruptcy happening today.

The news surely was not news as it was expected and in fact the market is trading higher in premarket trading.

To say that I had a LOT of signals would be an understatement. Once they started coming at me they kept coming and coming through the whole day. At times I had up to 12 trades on at once. Total craziness to be sure. For as many trades as I did have on I made only one mistake that I know of and it was a pretty small one. Otherwise it was a very smooth day in terms of getting the job done on a very busy day.

If I had more monitors and more eyes and hands I think I could have made more money but otherwise I am real happy with how the trading day went. It sure does set a fast pace for June.

Still short ASIA and TSRA options. Didn’t even look at them in the morning hours and by this afternoon it did not appear that I should add to the positions and left them alone.

All trades are based on B7 signal

XCO + 202

WRC + 576

SNDA + 1175

OIS + 1016

KSS + 986

IVZ + 315

HOS + 737

GR + 70

GNK + 8
GNK 28 CALL OPTIONS + 515 (IB ran out of shares to borrow so I shorted the near month ITM calls as a sub)

GES + 2124

COG + 324

CLR + 903

ANSS + 11 (exited early so that I would not go into closing with this one )

ANF + 314

Scalped

SINA + 43

+ 9326 Day

 

[Robert Weinstein]

After yesterdays gains I drove to the office with a little extra spring in my step.

The day started out on the slow side but I was watching SLT and it was trading higher in pre-market trading. I waited until the bell rang and then started to short it. It quickly became obvious that it was not going to be moving very much and that to get any real return I would have to wait and hold until tomorrow. i did try to scalp some shares but even that was difficult to do when my average price was about one penny short of the lower part of the area it was trading. I did wait and short more shares on the moves higher and was able to scalp a few shares for a penny but then it moved against me a few cents and I decided to just let it be. Today is also the 7th day higher with many of the days gapping up which is not that big of a surprise considering its an Indian and Australian stock.

SLT + 13 Still short most of the shares going into tomorrow.

I had some nice trades today with SHLD leading the pack. I traded SHLD several times and that worked out well.

SHLD B7, B7+, 2265

WAT + 2172

Traded LM much of the day in that I watched it move against me very slowly for about half the day. It never really broke and the only shares that I covered with to make the small amount that I did was right after the bell when I put some shares up near BE. Will be looking for LM to open lower tomorrow as well.

LM + 6

GDP + 1569

COO + 143

+ 6170 Day
+ 15496 Week / Month

 

[Robert Weinstein]

Pretty slow day today

closed out of LM and SLT that I carried over from yesterday. I also tried to trade AGEN and while it went well IB totally was a failure with it. IB wanted to price AGEN at .0001 increments and that made using the DOM impossible. I ended up manually (first time in over a year) entering in orders to cover. Also IB at times when I wanted to short didn’t have shares available on and off. Total nightmare and feel very fortunate that I was able to make any gains from the trade.

Left early (not that I had any trades that needed me anyway) to go speak at my first grader sons class about China.

SLT + 92

LM + 885

AGEN + 209

+ 1186 Day
+ 16682 Week / Month

 

[Robert Weinstein]

Today started out well and then it changed.

I had a couple good trades and then I was totally run over by a MAC truck. Well at least it felt like I was ran over. I did totally cover so I am flat other than my swing trades

CPRT + 995

MAC - 3898

AGEN + 140

- 2762 Day
+ 13920 Week / Month

 

[Robert Weinstein]

My carry over from Friday not only worked it worked way too well. I covered much of the trade in pre-market trading and it feel much further after the market opened up. It appears I was buying at the top of today. I was able to get my profit target so thats about all I should really be asking for. All in all a very nice trade as I made about $1800 on RTI Friday and then with todays gain it surely gave a lot of love.

RTI + 3804

TSRA pulled back today and I covered some of the call options I wrote. I covered the Jun 30s for a small gain. Still short the 25 calls which are currently under water but much better today than last week.

TSRA Jun 30 Calls + 38

That was pretty much my whole day and it was done within the first 30 mins after the bell.

+ 3842 Day / Week
+ 20479 Month

 

[Robert Weinstein]

Started out somewhat slow after STEC

I did scalp both TRMB and MW and that worked out ok. MW ran away from me a bit before coming back and I was underwater with MW as I started to scale out with a stop loss for a while but closed out a small gain in the end when it moved my way.

TRMB + 201

STEC + 2135

MW + 230

+ 2567 Day
+ 6409 Week
+ 23046 Month