Stock Du Jour, Thu. May 21, 2020, SNCA

Added on by C. Maoxian.

Seneca Biopharma (SNCA) was the stock du jour, doing 247,000 trades and $160MM in volume … it was hard to borrow (HTB) and I paid 2.43 cents for the borrow ($243 per 10,000). I got lucky because I noticed this one late since I was busy with CLSK (64,100 trades $64.8MM volume, 4.9 cent borrow) and SONM (41,000 trades with $23.7MM volume, 3.17 cent borrow) … I would have been jammed out in the morning for sure, but I got in on the “backside” and rode it down to the Dave Mabe no-partial-profits taken end of day (fell short of greedy target). If I didn’t have to pay 7x to the brookie for overnight, I would’ve swung it shooting for Greedy.

Really good day, everything went my way, and I was able to bank some sick coin, brah. Minus the borrows. Semi-sick net of borrows. Oh, SURF was a latecomer (242,000 trades and $485MM in volume) but it was ETB (IB had over 1.5MM shares) so I avoided it… see, I can learn from my mistakes. In the past I would have instantly gone to IB and shorted a massive slug of shares, just on principle, but no, I’ve learned, ETB and I don’t agree on things. If I tracked my stats carefully I dread to think what the ETB losses would add up to. Good thing I track no stats. Just print out charts and put ‘em in a binder and forget about ‘em. Lazy.