Jayron's Stock Trades 25 May 19 (Warning it's disastrous)

Updated: Jun 8, 2019

Last week's trading results taught me a hard lesson on the need to continue being humble in trading. Disaster struck me as one of my long stock, BioCryst Pharmaceuticals (BCRX) gapped down more than 50% pre-market. This means that when the market isn't open yet, the stock price had already tumbled down to less than 50% of its price yesterday. As a result, my stop loss was not filled until when the market opened at less than 50% of its original price (chart of BCRX is shown below).

This was a painful lesson for me but it definitely hardened me mentally and made me review my strategies. I know that stop loss are never guaranteed in trading especially in situations of gap downs and therefore I knew I will eventually have to endure such experience in my trading journey. This trade had also taught me to give more attention to the position size of a trade and avoid going long on small cap pharmaceutical stock with negative earnings.

Thankfully, my exposure to this stock wasn't large enough to cause a catastrophe to my trading account. On the optimistic point of view, I had experienced what many others haven't (a 50% gap down), and yet continues my trading journey (when others would have given up). Anyway with a few digits less in my trading account, life still goes on and the hustle continues.

Today. there will be 2 sections presented namely:

Updates on closed positions last week (20-24 May) which includes the gapped down BCRX.

Opportunities for the coming week

Updates on closed positions

Stock: BCRX

Signal date: End of 3 May 19

Entry price (cyan line): $7.62

Stop loss (red line): $7.09

Take profit (green line): $8.68

Feedback: Gapped below stop loss to fill at $3.20 (-8.32R)

Stock: FL

Signal date: End of 10 May 19

Entry price (cyan line): $56.13

Stop loss (red line): $53.09

Take profit (green line): $62.21

Feedback: Hit stop loss (-1R)

Summary: Month to date, 2 of my stocks hit take profit, 2 hit stop loss 1 gap down badly.

Opportunities for the coming week

(Entry on 28 May 19 as 27 May is a NYSE holiday )

Disclaimer: The charts displayed are meant for educational purpose. None of the content contained here constitutes a recommendation to make any investment. I am not responsible for any loss arising from any investment based on any information contained here.

Stocks to go long: LSCC, DE, CTSH (charts below)

Stocks to go short: CRAY (chart below)

Even though times are bad, experience is priceless. I will continue to do the right thing. All the best. Cheers!

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