Trading Journal for 7/2
6:25AM: SPX futures are up at 3142. FRAN is gapping up 142%; I see news about a partnership to develop a mobile app; it has resistance at SMA200 at $8.52.
6:30AM: FRAN is dipping at the open. Volatility is pretty high. I managed to get $0.06 with 1 share.
6:35AM: With high volatility, FRAN tends to bounce pretty sharply whenever it sets a new low, before it goes on to drop further.
6:40AM: FRAN broke below VWAP. Other stocks that are moving include JOB (+266%) on news over getting rid of $47m in debt and STAF (+60%), both of which are priced below $2.00.
6:44AM: JOB (+319%) broke $2.00 and rose into a second halt. I’m holding 1 share into the halt. I’m noting that spreads are pretty wide, and it would be pretty tough to accumulate shares.
6:49AM: Caught $0.11 on JOB with 1 share. Looks like it’s continuing to rise. I won’t be buying into a third halt as it’s pretty extended. As a write this, it’s dropping and halting going down.
6:53AM: TSLA is up 7.55%, which is crazy. Apparently the market is up due to a strong jobs report. Virus infections are accelerating.
7:07AM: JOB is now very volatile; it’s halting down and up. Overall, it seems weak since it’s not retesting its intraday high.
1:00PM: Hmm, looks like SPX will close at around 3130. I was able to get $0.35 on 1 share at a time today. Momentum hasn’t been great recently, but it was a bit better today.