Another Great Morning of Day Trading
This morning, before the open, I looked for gapping stocks. I found 2 and they’re the only stocks I made trades with. And I had a great morning of Day Trading. The 2 stocks are NVAX and RDUS. I’m not going to get into what the stocks do because when I Day Trade I really don’t care. I do like to know the stocks rating because if I’m dealing with a good stock or a bad stock it will influence the moves I make.
Let me start with NVAX. Yesterday the stock closed at $160.55. When I started watching the stock at 7:30am the stock was at $120, down $40. The first thing I thought is this must be a good stock because yesterday it was selling at $160. The stock opened at $122.95. Right from the open the stock started moving up. I wanted to watch the first few candlesticks to get confirmation of direction. I ended up buying 200 shares at $129.50. The stock was moving fast. In the $135 area the stock slowed down and went sideways for a little while. I placed a Stop Loss at $135.50 and was filled in a few minutes. I was in this first trade for 25 minutes and I made $1200.
Day Trade
10/20/21 – Buy 200 Shares NVAX @ $129.50
10/20/21 – Sell 200 Shares NVAX @ $135.50
Profit +$1200
The stock looked like it wanted to continue up. It was well above the VWAP line and it was moving north of the 8 Day MA (T-Line). I decided to get in for more. This time I bought 300 shares at $138.50. I know if I never got out of the first trade I’d be up a lot but when Day Trading you cannot get greedy. You must trade with Stops! This time I was Stopped out at $140.50. This $2 gain in the stock gave me another $600 profit.
Day Trade
10/20/21 – Buy 300 Shares NVAX @ $138.50
10/20/21 – Sell 300 Shares NVAX @ $140.50
Profit +$600
I went in again with 300 shares at $143.50. This time I was Stopped out at $144.25. This was only a 75¢ gain but with 300 shares my profit was $225. For a Day Trade, I’ll take it!
Day Trade
10/20/21 – Buy 300 Shares NVAX @ $143.50
10/20/21 – Sell 300 Shares NVAX @ $144.25
Profit +$225
I got back in with 300 Shares at $144.20 and I was Stopped out at $146.20 for a $2 gain. This gave me another $600 profit.
Day Trade
10/20/21 – Buy 300 Shares NVAX @ $144.20
10/20/21 – Sell 300 Shares NVAX @ $146.20
Profit +$600
This stock kept me very busy! It dropped back a little and I got in with 300 shares at $145.75. This time I made $1 for a $300 profit.
Day Trade
10/20/21 – Buy 1000 Shares NVAX @ $145.75
10/20/21 – Sell 1000 Shares NVAX @ $146.75
Profit +$300
The stock started to pull back so this was my last trade.
With RDUS, the stock gapped up before the open. Yesterday the stock closed at $15.46 and this morning it opened at $21.10. That’s a big pop for a low priced stock. I was looking for this stock to pull back today. At the open the first 10 candlesticks were up then it leveled off. At this point it was above the VWAP. About 15 minutes into the day the stock dropped below the VWAP. This is where I jumped in with a Short. I shorted 1000 shares at $21. I was stopped out at $20. When you Short a stock to get out you buy the shares. I sold at $21 and I bought at $20. This was a $1 gain on the 1000 shares which gave me a $1000 profit. I was in this trade for 30 minutes. The stock is still moving down and as I write it’s at $18.60.
Day Trade
10/20/21 – Short 1000 Shares RDUS @ $21.00
10/20/21 – Buy 1000 Shares RDUS @ $20.00
Profit +$1000
With these 2 stocks I could have done much better but since I’m new at Day Trading I’m trying to be very careful. I like the strategy I’m working on which is primarily working with gapping stocks. Gapping up or down. Today was a good example because I traded a stock that gapped down (NVAX), and a stock that gapped up (RDUS).
Day Trading these 2 stocks gave me a profit of $3925.
This was a great day and I’m closing my computer! Don’t forget I have a bunch of Swing Trades going that will expire this Friday.
Successful trading,
Steve
The Options Coach