Anyone following the market right now knows it’s the Wild West at the moment. While that’s been a point of caution for some investors, the sheer volatility has made the kind of stocks I tend to trades absolutely skyrocket.
Case in point, last week saw me log two +$100k trading days, the two best days of my career. Now, this past week has seen two more record-breaking days top even those by more than 50%. My new best trading day ever, June 17, 2020, sits at a gross profit of $224,397.91, more than $90,000 larger than the $132,000 last week’s record-breaking day. I followed that up with a $153,000 green day on Wednesday.
The big names for the week should be familiar to traders since they made some incredible moves that I was fortunate enough to be tuned in on at the time.
Wednesday saw Carver Bancorp, Inc. (NASDAQ: CARV) as the leading gapper in the premarket, surging from a Tuesday close of 2.65 to opening Wednesday at $16 and squeezing to a high just below $23. And despite not being able to use margin to buy shares, limiting me to my cash account, I was able to find some unreal upside simply by buying dips as the stock broke above VWAP. CARV ended up as my biggest green stock this week at a little over $181,000
I also had some strong trades in Cohen & Company Inc. (NYSE: COHN), which made an intraday move from $4.80 to a high of $18.90. I was quick enough to find a good entry in the circuit breaker halt and add on the way up for just over $40,000 gross profit.
Of course, the big mover from this week was Urban One, Inc. (NASDAQ: UONE), which I didn’t trade on Tuesday when it had that huge move above $36 late in the day, but did catch on Thursday as it made moves in the first few hours of trading. I received a lot of good news from Warrior Trading Student who followed this stock higher both days, and I’m happy to have gotten a piece of it as well for a little under $134,000.
This has been another crazy week in a series of increasingly wild sessions. As I write this, my account is up almost 500% from where I started the month, I’m just two days from topping my longest green-streak ever and I’m already well past my best annual profits after less than 6 months. I don’t want to jinx it, but I’m well on my way to making 2020 a $1 million year.
I’m still trying to remain alert to overplaying my hand since every week I seem to take more trades. It’s simply that this market has rewarded aggressive trading. So, for now, I’m going to continue to approach the market that way.
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