Well -- mission accomplished.
This morning I noted that CYOU reported strong earnings and was gapping up. I saw it had a small float and so I targeted it for a daytrade.
i waited for CYOU to attempt to fill the gap and then I got in as it began to bounce. It dropped again and I was close to being stopped out but it recovered and it ran pretty fast. I was trading small so I got out with an .80 gain. Then it dropped and I bought it back about .40 lower than my exit. It traded flat all day but near the end it picked up again and I sold it for a small .22 gain. However-- it went on to close at the highs. I was far too cautious -- but I correctly found an 'in play' stock -- made a decent entry -- and easily made some money. Not much -- but you could make a living if you could do this every day.
So my goal is to hit another 'in play' stock again -- I will increase my size just slightly. Overall - today bounced like I expected and the beginning of a new month is usually strong. The only weak stock I saw today was SKX which lost the 20 day MA -- but on light vol. so I'm not too worried.
BIDU posted some strong numbers as well (note: CYOU is kind of in the same sector). Oil stocks were raging and unfortunately, I have no exposure.
I did have a winning month which is good. And I think I beat most of the indexes as well. Nonetheless, it could have been better. I plan to be more cautious in Feb. and look for more in play daytrades to add to gains. Swing trading does not seem to be working right now.
Since the market is full of one day story stocks -- daytrading the strength seems to be a better way to manage risk. We shall see.