Long NTIC @12.60
Updated
This idea is a little bit risky given the price action lately and that they just missed earnings, so I would actively suggest just spectating on this one and letting me take the risk.
It has produced 8 oversold signals in a row and counting - luckily I wasn't trading the stock yet or that initial lot would be down almost 30% (this is why I don't like trading close to earnings). I'd be a hypocrite, though, if I didn't take the trade. Hopefully the bad news is out now past earnings and it'll get a bounce here soon.
Counting the 8 current open positions that are losers, the average trade is -2%, but up until now, it's average return was 7.6% with a 12 month return of 1.51x lot size. The average %return/lot/day held was a solid .34%
Same rules as always - I'll add when oversold, sell any lot when it closes overbought and is profitable.
I will update on my progress on this one. Wish me luck - this could either be a quick win or a long, slow, stressful trade.
Disclaimer: my posts are not investment advice, they are edu-tainment. If you decide to trade along with me, and things go sideways, that's on you. But if you must, I hope you win because that means I'm winning too!
It has produced 8 oversold signals in a row and counting - luckily I wasn't trading the stock yet or that initial lot would be down almost 30% (this is why I don't like trading close to earnings). I'd be a hypocrite, though, if I didn't take the trade. Hopefully the bad news is out now past earnings and it'll get a bounce here soon.
Counting the 8 current open positions that are losers, the average trade is -2%, but up until now, it's average return was 7.6% with a 12 month return of 1.51x lot size. The average %return/lot/day held was a solid .34%
Same rules as always - I'll add when oversold, sell any lot when it closes overbought and is profitable.
I will update on my progress on this one. Wish me luck - this could either be a quick win or a long, slow, stressful trade.
Disclaimer: my posts are not investment advice, they are edu-tainment. If you decide to trade along with me, and things go sideways, that's on you. But if you must, I hope you win because that means I'm winning too!
Comment
Added 1 lot at 13.04 just before the close because it's oversold.Comment
Added a lot at 12.80 just before the close.Comment
Added another lot @ 12.44 at the closeComment
Random fun fact about NTIC I just learned as I noticed that it was tending to be up on days the QQQ was down and vice versa - NTIC has a daily correlation similar to what BND does with QQQ and even less correlation than BND does on monthly and annual bases. Helpful for portfolio diversification, but also for traders looking to trade the long side on days when tech generally struggles.
BND is a tough asset to short term trade except with leveraged ETFs because it just doesn't have enough volatility to make it worthwhile. NTIC on the other hand, has much higher vol but low correlation to what other tech stocks are doing - I don't know why. Just an interesting "food for thought" item I dug up while I wait for this trade to play out. Good luck to everyone.
Trade closed: target reached
Just sold all of my NGIT at 13.94 10 min before the close because it sometimes is hard to trade because of the wide spread. Lot 1 was the original lot bought at 12.60 so the gain on that was 10.6%. Lot 2 - 6.9%, Lot 3 - 8.9%, Lot 4 - 12.1%
Avg gain on these 4 lots = 9.6%
Avg holding period for this trade = 19.5 days
Very happy with this trade and love that it tends to move with low correlation to QQQ. We will see each other again, NTIC.
Comment
Summary (for my accounting purposes)
4 wins 0 losses
+10.6% in 30d
+6.9% in 17d
+8.9% in 16d
+12.1% in 15d
Avg gain = 9.6%
Avg hold = 19.5 trading days
Per lot per day annualized return = 124%
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