Just to prove that it’s not only about the core stocks when trading through the summer downturn, Friday produced a couple of winners that were most definitely not from the core list.
First up (though only by a matter of minutes), was this little beauty from NKTR:
All standard stuff, and over in a quarter of an hour, netting a four-figure profit in supposedly one of the quietest months of the year. Summer doldrums? What summer doldrums?
Next, YELP:
This trade lasted a third of the time of the previous one, and made about a third of the profit, which seems fair enough. About $500 in five minutes is not to be sniffed at.
Both of these trades were absolutely textbook — literally. Anyone who’s read the book will recognise the patterns and the reasons for entry and exit.
So there you have it. A ‘quiet’ Friday in a ‘quiet’ summer week, and a couple of trades that between them netted more than two thousand dollars profit in about fifteen minutes. Of course, it’s never quite that simple — there was some pre-market work involved in finding those trades. Not much, less than an hour, but it’s often overlooked. Still, my working day was done by half ten Eastern Time, just in time for Mrs W to drag me off for the next item on her summer agenda.