Moleculin Biotech Inc was the stock du jour … MBRX did 264,000 trades by end of day … it was hard to borrow and I paid 1.9 cents per share for the borrow ($190 per 10,000 shares) … I had an average of $1.468 on my short and covered at an average of $1.249. Gross day trading gains of around 15% are very pleasing, but of course there are losses and fees every day. Still a tough way to make an easy buck.
After my daughter started Kindergarten and I was able to resume day trading in February 2017, I bemoaned the lack of borrowable shares in microcap stocks at Interactive Brokers — for two long years! — before finally sending some money to a specialty broker who could locate hard to borrow securities for me. Hundreds and hundreds of opportunities missed, but that’s what happens when you’re stubborn and sort of simple-minded, like me. Water under the bridge, I guess.
Remember to slow down the footage using the YouTube player and pause, rewind, and study crucial points during the day. Bookmap provides a unique view of the book, infinitely better than staring at the Level 2 and time and sales, a.k.a., “the tape.” Enjoy!