All trades don’t work out the way you expected

$CANF announced good news this morning. One of their treatments is now being used to help another medical issue. No FDA approvals, just clinical news.

Being that Thanksgiving is this coming Thursday, I’m assuming that some traders are starting their vacation early. I didn’t really know what to expect out of the market this morning. That scared me a little.

$CANF had already traded about 1M shares before the open and was by far the biggest pre-market gapper. The uncertainty of a slow market made me hesitate a number of times. I almost acted on a few hunches but stayed on the sidelines.

I’m trying to become more patient at the open and wait for a stock to put in a move before diving in. In the past I would get bullish or bearish on a stock based on news or earnings and buy it before the market opened.

In almost all cases I would guess the opening move incorrectly and end up being stopped out. I can tell that my willingness to just dive into anything is just about over.

JC Trades

Day Trading stocks since 2014, he documented his first 100 Day Trades at http://jctrades.com.

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