We continue the Million Dollar Retirement Challenge with 2 quick scalp trades on the opening drive today, bringing the account up to $1706.33. Currently this strategy is working but will start to also look for swing opportunities.
Galmed Pharmaceutical (GLMD)
Biotechnology – Israel
Entry for a VWAP reclaim scalp and breakout over 6. Very low float so stop needed to be hard yet wide enough to give it some room. Smaller share size because of this. Once it broke over 6.15, started to look for exit as it could easily flush down. Maybe should have exited half then left a trailing position for more upside.
- ENTRY – Avg Entry Price: 5.895
- ENTRY – Bias: Long
- ENTRY – Entry Time: Opening Drive (8:30-9:30)
- ENTRY – Price Target: 6.4
- ENTRY – Quantity: 50
- ENTRY – Stop Price: 5.8
- ENTRY – Trend – Price: Increasing
- ENTRY – Trend – Volume: Increasing
- EXIT – Avg Exit Price: 6.315
- EXIT – How to Improve: Bigger Size
- EXIT – Overall Grade: B
- EXIT – Profit: 21.0000
- EXIT – Time: Opening Drive (8:30-9:30)
- EXIT – Type: Full out profit taking
Smith Micro Software (SMSI)
Software – Pennsylvania USA
Entry after VWAP reclaim. Low float penny so it could big volatility. Lost a bit of confidence as it approached 1 because it turned red near the high. Full exit to risk off.
- ENTRY – Avg Entry Price: 0.9399
- ENTRY – Bias: Long
- ENTRY – Entry Time: Opening Drive (8:30-9:30)
- ENTRY – Price Target: 1.00
- ENTRY – Quantity: 500
- ENTRY – Stop Price: 0.9
- ENTRY – Trend – Price: Increasing
- ENTRY – Trend – Volume: Increasing
- EXIT – Avg Exit Price: 0.9501
- EXIT – How to Improve: More patience
- EXIT – Overall Grade: C
- EXIT – Profit: 5.1000
- EXIT – Time: Opening Drive (8:30-9:30)
- EXIT – Type: Full out profit taking
