My Best Day Trade in 2020 Was Just Pure Luck!

My Best Day Trade in 2020 Was Just Pure Luck!

I’d been day trading Pinterest (PINS) pretty much all year in 2020, and I’ve had much success because the stock’s volatility was favorable to good price swings. But I didn’t realize that Pinterest was posting its earnings this past Thursday after the closing bell, and I just happened to notice the surge that started in after-hours trading. I quickly reacted and I made the best intraday trade in 2020, after-hours just before Pinterest posted its earnings about an hour later. Here’s the chart…

Pinterest jumped 26.82%, and I had bought the stock earlier in the trading session to day trade it, but it had fallen into the negative. So, I had been watching the stock’s performance throughout the day. And when I saw that there was no rise in the stock’s price, I was resolved to hold it overnight and treat it like a swing trade. Lo and behold, I ended up day trading it with a +20% jump, and that’s all I’ll say about that (I only post percentage gains and losses on this site). But, I made a killing on this one day trade, at least from my own personal experience.

I chalk this up to dumb luck, and I know I could’ve held on longer but volatility is high with PINS, so after getting that big gain, I got out with a big profit.

The next day, I day traded the stock once again for another gain, while at the same time day traded SQQQ, shorting the stock market because I knew DOW Futures were showing a negative start. And this turned out to be a excellent week to end October 2020.

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randomguru

Portfolio Manager & Musician

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