Put Money Where My Mouth Is

I picked up 100 WCG @ $26.65 for a trade. I'm trying out the RSI(2) indicator. However, due to the nasty investigation, I'm using a tight stop.

I'm out of the office for most of the day.

Evening Update

For some reason, it felt silly to do a new post just to update what the rest of my day was like.

BWLD gapped up this morning on weak volume so I sold 1/3rd of my position above $40.00 Had I sold all of it, I'd be around 1 grand richer right now, as the stock is trading 6 points lower after a .2 miss.

After looking at a chart of CATS (thanks Andy from the comments section) and watching the stock trade for 20 minutes or so, I decided to try out another RSI(2) trade. I bought 200 @ $6.06. I set a stop at $5.93, which was just below the low established the previous day. Then I left the office.

When I returned to the office about 15 minutes before the close, I saw that I was stopped out on WCG, for a $200.00 loss. CATS, on the other hand was up 6+%. Obviously, as some here have wanted to point out, the fundamental situation concerning WCG overrode any possible technicals. I liked the CATS bounce, so I left the position on overnight.

I also saw VDSI up 10+%, so I sold the shares I bought near the bottom, and left 2/3rds for later. It felt really good to have my patience rewarded here as I've felt like a fool for trying to catch this falling knife.

CPHD was also up 10+%, so I took 1/3 off before the earnings report tomorrow.

This leaves me with about 35% cash. I'd like to put some of that cash into more Gold and Silver.

As learning how to buy weakness has been a goal of mine all year, I am glad to see some of these buy-low trades start to turn a profit. I am especially excited about developing a screen to use with the RSI(2) setting.