Friday, October 31, 2008
Position Update - Decent Entry, Pathetic Exit!
What a disappointing exit for me in regards to closing my position of DIN. I was able to close my short position of DIN at $17.02 during the last ten minutes of the trading session for a gain of $306 after commissions. This may sound solid, but in the whole scheme of things, my exit was pathetic. Absolutely pathetic. There was a point in the day where I was up more than double his amount, but I didn't just simply close out this position and just move on; I was up over $800 at once time today. I noticed that the intraday chart was starting to look ugly and unpredictable, especially around lunchtime Market time. I didn't like that the stock started to battle back and linger around yesterday's closing price and I ignored that sign. Greed right there. Luckily, I got out before this stock headed back into green territory where it finished up about 7% on the day. Pathetic exit, lucky trade considering I had to risk big for a relatively small gain. Decent entry, pathetic exit.
Position Update
DIN - Still holding short 500 shares and so far, so good. Intraday - this stock is volatile and the bid/ask spread can test your stomach. Multiday - if this stocks continues its slow but steady downtrend into the last hour, it should make for a nice hold until it finally turns green for the day. To be continued...
Thursday, October 30, 2008
10.31 Watchlist
DIN - Closed red at -1.86% today. The wide bid/ask spread required a strong stomach during Thursday's trading session. I'm holding 500 shares short at $17.66 and now that the price is finally below $17, I'm much more comfortable. Most of my focus will be on DIN and if this closes red again at Friday's close, I'll be brave enough to hold on tight to my shares until I see green.
SPAR - Had it's first down day today closing red at -1.53%.
LNG - Popped big today, closing green at 34.67%. Since last Friday, this stock has had a mean green streak of over 143%! I'm still waiting for this one to start giving back some of its gains on any signs of red action.
LAD - Big dump early in the trading day only to recover and finish barely green at 1.12%. Other than Wednesday's huge gain, the stock has not done much.
SPAR - Had it's first down day today closing red at -1.53%.
LNG - Popped big today, closing green at 34.67%. Since last Friday, this stock has had a mean green streak of over 143%! I'm still waiting for this one to start giving back some of its gains on any signs of red action.
LAD - Big dump early in the trading day only to recover and finish barely green at 1.12%. Other than Wednesday's huge gain, the stock has not done much.
Position Update - Gut Check Folks!
I'm still holding short 500 shares of DIN at $17.66 from Wednesday's close, with an unrealized gain of about $400. I was almost shook out early in the trading day, especially when the stock touched $18. The spread was nauseating at times, but I kept a close watch because I felt that the reward versus the risk was worth hanging on to my position. I've looked at the big picture, specifically the 20 day chart on TOS, and there appears to be plenty of downside to this one. This stock hasn't been around these levels in a while, so I'm thinking that this would be a great chance for longtime shareholders to finally get out and take their profit. The ask/bid spread was pretty risky for me, but I liked that the volume today was lower than the daily average. I knew going into this short position that the risky spread would test my stomach at times. I watched DIN very close, especially during the first hour of trading and once it settle near the $17 mark, my mind was more at ease and my confidence in my short position increased. I find that the first hour of trading is critical in that it can give me a clue as to where the stock is heading.
Wednesday, October 29, 2008
10.30 Watchlist
DIN - After a rocket-like green streak since last Friday's opening of 152%, this stock finished the day red at -6.12%. Looking at the 20 day chart, we're at atmospheric levels in which this stock hasn't been at in a long while. Its chart looks like artwork to me. The volume is much lower than it was yesterday and the stock ended the day with a nice steady decline. The spread could have been better though. I'm holding 500 DIN short.
EVC - Closed red at -27.44% today. I was tempted to take a short position into the close of today's trading session, but I didn't like how this stock finished the last hour fighting back. I had that feeling that if I shorted into the close, I would be chasing a stock.
LAD - Finished green at 122.50%, but on earnings related news. A risky earnings play, so keep a close eye on this one if you take a position.
NURO - Closed green at 15.22% today. This stock has a winning streak, being up green at 100% since Monday. Any sign of red will make this 15M company a great short.
LNG - Four green days in a row and up today 17.75%. I'm still watching if this one runs out of momentum, especially after four green days.
TTGT - This closed the day red at -26.98%. Congrats to those who banked on this very predictable call! This call was similar to EVC.
EVC - Closed red at -27.44% today. I was tempted to take a short position into the close of today's trading session, but I didn't like how this stock finished the last hour fighting back. I had that feeling that if I shorted into the close, I would be chasing a stock.
LAD - Finished green at 122.50%, but on earnings related news. A risky earnings play, so keep a close eye on this one if you take a position.
NURO - Closed green at 15.22% today. This stock has a winning streak, being up green at 100% since Monday. Any sign of red will make this 15M company a great short.
LNG - Four green days in a row and up today 17.75%. I'm still watching if this one runs out of momentum, especially after four green days.
TTGT - This closed the day red at -26.98%. Congrats to those who banked on this very predictable call! This call was similar to EVC.
Position Update
Borrowed and sold 500 DIN at $17.66 with forty minutes left in today's trading day. I was a little hesitant because of the crazy spread the stock exhibited today, but I went on GOTS and with a simple "yes" from Muddy, I went for it. The dizzying spread on DIN makes this perhaps my riskiest play. I see plenty of downside with DIN and I'm hoping volume dies down much more.
Tuesday, October 28, 2008
10.29 Watchlist - Holy Crap There are Tons of Possible Plays Out There!
Holy crap, after a couple of hours of scanning stock, I found that there are tons of potential short plays out there! On a good night, I'll spend a few hours at my computer and I'll scan a few dozen stocks looking for patterns that look like good reward, low risk plays. However, most of the short plays out there are a little too risky for my small account! I've learned to play small ball now and keep my focus narrow. It sucks being prisoner to that PDT rule. These are a few stocks that I'm favoring, although there are tons of plays out there!
NURO - Closed red at -4.18% today. I had the honor of Muddy visiting my blog today! From the Master himself, Muddy: "NURO looks like it's outta steam ...only 119k shares traded today, buh bye."
DIN - Had a monstrous green day, closing very very green at 101.99% I'm going to keep a close eye on this one because it's been up 152.41% since Friday's opening. Muddy, thanks again for your wise words: DIN pancake news bigger than you think, hahaha...stick a fork in them on RED! Muddy's THE man.
LNG - Had its first red day today, closing at -0.59%. This looks like its running out of gas.
EVC - A stock that has done absolutely nothing except today, when it closed very very green at 161.98%...on no news!!! I like this one. Enough said.
TTGT - Closed green at 45.50% today.
NURO - Closed red at -4.18% today. I had the honor of Muddy visiting my blog today! From the Master himself, Muddy: "NURO looks like it's outta steam ...only 119k shares traded today, buh bye."
DIN - Had a monstrous green day, closing very very green at 101.99% I'm going to keep a close eye on this one because it's been up 152.41% since Friday's opening. Muddy, thanks again for your wise words: DIN pancake news bigger than you think, hahaha...stick a fork in them on RED! Muddy's THE man.
LNG - Had its first red day today, closing at -0.59%. This looks like its running out of gas.
EVC - A stock that has done absolutely nothing except today, when it closed very very green at 161.98%...on no news!!! I like this one. Enough said.
TTGT - Closed green at 45.50% today.
Account Update - Four Out of Four Folks!!!
TOMO - I had kept an eye on TOMO all day as it hovered in negative territory during most of the day. I noticed that positive momentum was building up in this stock, pushing it higher with more volume, so I decided to finally close my position with twenty minutes left in the trading day and bought all my shares back at $2.90. After four days of patiently waiting for some kind of sign that this stock just might finish the day green and riding the downward momentum, I pocketed a cool $1286 after commissions! My best trade yet simply by waiting on the sidelines and focusing on just this single stock; I don't have much capital anyway, so I try to keep my focus narrow.
Current account size: $12654
My total gains: +$2654!!!
10.22 gain short TOMO: +$1286
10.17 gain short RDA: +$196
10.9 gain short TMA: +$606
10.6 gain short RZ: +$566
Current account size: $12654
My total gains: +$2654!!!
10.22 gain short TOMO: +$1286
10.17 gain short RDA: +$196
10.9 gain short TMA: +$606
10.6 gain short RZ: +$566
Monday, October 27, 2008
10.28 Watchlist
TOMO - Finished the day red again at -12.79%. I've just been waiting for this stock to turn green so I can lock in some profit. Otherwise, it's been a nice ride downward for the past few days.
QUIX - On my premarket short watch because of the explosive finish during the close of today's trading day. Closed the day green at 12.60% and looks shortable on any spike.
DIN - Closed green at 53.56% for this company that runs Applebee's and IHOP. The only news I found is that there are new coffee cake pancakes at IHOP?!?! I'm serious!
CDY - A 90M Canada-based mineral exploration company engaged in the acquisition, exploration and development of mineral properties that has caught the interest of China? Finished Monday green at 29.91% on that news. Otherwise, this stock hasn't done a thing.
NVTL - Closed green at 5.06%. There seems to be plenty of disgruntled shareholders of this stock.
NURO - This 13M "company" finished the day very green at 81.15%. This stock is will be a great short after the promoters do their job and this thing finally runs out of steam. Definitely watch this one.
LNG - Closed green at a nice 45.30%, but shorting after the first day up is pretty risky. I'd reserve and short this very, very early during premarket and I hope volume dies down a lot more.
NOVA - Closed green at 29.69% on below than average daily volume. Every spike is followed by downward movement a.k.a profit taking sell-offs.
QUIX - On my premarket short watch because of the explosive finish during the close of today's trading day. Closed the day green at 12.60% and looks shortable on any spike.
DIN - Closed green at 53.56% for this company that runs Applebee's and IHOP. The only news I found is that there are new coffee cake pancakes at IHOP?!?! I'm serious!
CDY - A 90M Canada-based mineral exploration company engaged in the acquisition, exploration and development of mineral properties that has caught the interest of China? Finished Monday green at 29.91% on that news. Otherwise, this stock hasn't done a thing.
NVTL - Closed green at 5.06%. There seems to be plenty of disgruntled shareholders of this stock.
NURO - This 13M "company" finished the day very green at 81.15%. This stock is will be a great short after the promoters do their job and this thing finally runs out of steam. Definitely watch this one.
LNG - Closed green at a nice 45.30%, but shorting after the first day up is pretty risky. I'd reserve and short this very, very early during premarket and I hope volume dies down a lot more.
NOVA - Closed green at 29.69% on below than average daily volume. Every spike is followed by downward movement a.k.a profit taking sell-offs.
Postion Update - Wow What a Bleeder!
TOMO - Wow, this stock finished the day red again at -12.79%.
I knew TOMO had a lot of downside left when I first shorted 1,000 shares from last Wednesday's close, but I would have never guess it would fade during the last fifteen minutes of the day and close with a price of $3.00! I learned so much from a short position I had earlier this month - I simply didn't let my solid short of RZ ride out until the day it finally went green. RZ was a good profitable trade, but I lost out on nice sized amount of cash by not letting this winner ride. Just by sitting back and waiting for TOMO to close the day green, I am sitting on an unrealized gain of about $1200 since last Wednesday! Not too bad for a small and conservative short position!
I knew TOMO had a lot of downside left when I first shorted 1,000 shares from last Wednesday's close, but I would have never guess it would fade during the last fifteen minutes of the day and close with a price of $3.00! I learned so much from a short position I had earlier this month - I simply didn't let my solid short of RZ ride out until the day it finally went green. RZ was a good profitable trade, but I lost out on nice sized amount of cash by not letting this winner ride. Just by sitting back and waiting for TOMO to close the day green, I am sitting on an unrealized gain of about $1200 since last Wednesday! Not too bad for a small and conservative short position!
Sunday, October 26, 2008
10.27 Watchlist and Position Update
TOMO - I'm still holding 1,000 TOMO short from Wednesday's close at an average of $4.20. I'm pretty much going to keep a very close eye on this one and if it goes green for the day, I will simply close my position, take my profit, and move on to the next play. Still scanning tonight for Monday's plays...
Friday, October 24, 2008
How I Trade Now...
1. Patience and discipline above all.
2. Control your emotions.
3. Don't set monetary trading goals. Money comes with solid trades anyway.
4. Don't try to force trades; there will be stretches when the plays are just not there.
5. I take a short position only during the morning panic or spike or only during the last hour of the trading day; never during the middle of the day.
6. I only trade relatively small companies. When it comes to the bigger companies, I have close to zero advantage when it comes to the hundreds of millions versus my tiny speck of an account that's trying to just get over the PDT threshold. I find it nearly impossible to predict a big company's move no matter how much research I do. I like to play companies that are a few hundred million dollars in market cap size and not in the billions.
7. I don't care how the Market is doing, only how my play is doing.
8. I don't play earnings expectations.
9. I cut my losses quick and live to trade another day.
10. Hit consistent singles instead of going for a sporadic homeruns each time you're up to bat. I've learned to take small positions instead of large ones. Small consistent gains definitely add up.
11. I prefer to take my profit quickly, but in some instances I will not cover a short position until a company finally finishes a day in the green.
12. I only have a small amount of capital to work with, so I like to narrow my focus down to only a handful of stocks to play for the following day. I have found that this selectivity has enhanced my ability to preserve my capital.
2. Control your emotions.
3. Don't set monetary trading goals. Money comes with solid trades anyway.
4. Don't try to force trades; there will be stretches when the plays are just not there.
5. I take a short position only during the morning panic or spike or only during the last hour of the trading day; never during the middle of the day.
6. I only trade relatively small companies. When it comes to the bigger companies, I have close to zero advantage when it comes to the hundreds of millions versus my tiny speck of an account that's trying to just get over the PDT threshold. I find it nearly impossible to predict a big company's move no matter how much research I do. I like to play companies that are a few hundred million dollars in market cap size and not in the billions.
7. I don't care how the Market is doing, only how my play is doing.
8. I don't play earnings expectations.
9. I cut my losses quick and live to trade another day.
10. Hit consistent singles instead of going for a sporadic homeruns each time you're up to bat. I've learned to take small positions instead of large ones. Small consistent gains definitely add up.
11. I prefer to take my profit quickly, but in some instances I will not cover a short position until a company finally finishes a day in the green.
12. I only have a small amount of capital to work with, so I like to narrow my focus down to only a handful of stocks to play for the following day. I have found that this selectivity has enhanced my ability to preserve my capital.
Position Update - Four in a Row Folks!
TOMO - Finished nicely red today, down -11.11%.
Yesss! Four out of my first four!
The lesson I learned from Laura from the Dark Side of Trading just about two weeks ago is really paying off - "No reason to cover until I see green." I'm still holding 1,000 TOMO short from Wednesday's close at an average of $4.20 and so far I have an unrealized gain of about $760, not including commissions. TOMO has been my best short to date even though I didn't play this stock agressively at all. It has been a steady downhill ride on a wave of red!
Yesss! Four out of my first four!
The lesson I learned from Laura from the Dark Side of Trading just about two weeks ago is really paying off - "No reason to cover until I see green." I'm still holding 1,000 TOMO short from Wednesday's close at an average of $4.20 and so far I have an unrealized gain of about $760, not including commissions. TOMO has been my best short to date even though I didn't play this stock agressively at all. It has been a steady downhill ride on a wave of red!
Thursday, October 23, 2008
Position Update
Still holding 1,000 TOMO short from Wednesday's close. I'm up a little over $300 with this pretty safe play. From what I learned the other day, I see no reason to cover until I see green.
JAG - Closed even more red today at -8.89% and for a total of -35% since Tuesday.
DTG - Closed red at -30.73% today after closing very very green at 149.32% yesterday. No explanations needed as this one was as easy as trying to hit the Pacific Ocean.
ESCA - This illiquid yet such a great bleeder of a company, closed very red at -24.13% today. If you found shares to borrow, I know you had a great day.
MPEL - Closed red at -19.27% today; its second day in the red.
NYNY - Was a nice short during the early morning having dipped into the red. I hope you took your profit and ran because this stock bounced back and finished green at 3.37%. Stocks like this is why I've learned to either short very early into the trading day during the morning panic or spike or during the last hour of trading. This rule I stick by has made me a far much better and effective trader.
HOKU - Closed red at -1.52%. However, it had a nice comeback during last hour of the day and the chart looks unpredictable to me now.
JAG - Closed even more red today at -8.89% and for a total of -35% since Tuesday.
DTG - Closed red at -30.73% today after closing very very green at 149.32% yesterday. No explanations needed as this one was as easy as trying to hit the Pacific Ocean.
ESCA - This illiquid yet such a great bleeder of a company, closed very red at -24.13% today. If you found shares to borrow, I know you had a great day.
MPEL - Closed red at -19.27% today; its second day in the red.
NYNY - Was a nice short during the early morning having dipped into the red. I hope you took your profit and ran because this stock bounced back and finished green at 3.37%. Stocks like this is why I've learned to either short very early into the trading day during the morning panic or spike or during the last hour of trading. This rule I stick by has made me a far much better and effective trader.
HOKU - Closed red at -1.52%. However, it had a nice comeback during last hour of the day and the chart looks unpredictable to me now.
Wednesday, October 22, 2008
10.23 Watchlist
I shorted 1,000 TOMO at $4.20 during the last thirty minutes of the trading day. I could have made a better entry, a much better entry.
Did anyone play JAG??? JAG was on the Tuesday follow-up, having bled -13.15% and more red today at -17.75%? I hope someone shorted the crap out of this "company" and made a pile of cash!
TOMO - Closed red at -13.79% today after a three day winning streak.
DTG - Closed very very green at 149.32%. I'm keeping a close eye on this one for future use. Hard to borrow on TOS. The early birds won't get the worm this time, because in this case they'll get the money which is better than a worm.
ESCA - This "company" closed green today at 20.89% and has a three day green streak at 84.27% since Monday. This should be a great short soon, with any red action signaling "go" in this case.
MPEL - After four days up, it had its first down day, closing red at -7.03%.
NYNY - Closed red at -9.57% today.
HOKU - Below average daily volume finally and closed red at -6.57% after three green days.
Did anyone play JAG??? JAG was on the Tuesday follow-up, having bled -13.15% and more red today at -17.75%? I hope someone shorted the crap out of this "company" and made a pile of cash!
TOMO - Closed red at -13.79% today after a three day winning streak.
DTG - Closed very very green at 149.32%. I'm keeping a close eye on this one for future use. Hard to borrow on TOS. The early birds won't get the worm this time, because in this case they'll get the money which is better than a worm.
ESCA - This "company" closed green today at 20.89% and has a three day green streak at 84.27% since Monday. This should be a great short soon, with any red action signaling "go" in this case.
MPEL - After four days up, it had its first down day, closing red at -7.03%.
NYNY - Closed red at -9.57% today.
HOKU - Below average daily volume finally and closed red at -6.57% after three green days.
Position Update
Short 1,000 TOMO within thirty minutes of the close today at $4.20. Early green to red action early in the day, but I prefer to open a short position either during the morning panic or spike, or only during the last hour of the day. I've become a great deal more successful with this short strategy.
TOMO - Closed red at -13.79% after falling off the cliff during the last hour of the trading day.
CYTK - Opened up red at $3.08 but held up well finishing green at 2.50%. Hopefully volume dies down much more, but that intraday pattern will give you a headache. Lots of patience required.
HOKU - Below average daily volume finally and closed red at -6.57% after three green days.
TMA - A reliable bleeder after a nice run-up, this stock closed red at -21.09% today. It was very hard to get shares to borrow this time around though.
AGC - Closed red at -6.83% after a four day green streak on no news. Very fishy that's all I know.
TOMO - Closed red at -13.79% after falling off the cliff during the last hour of the trading day.
CYTK - Opened up red at $3.08 but held up well finishing green at 2.50%. Hopefully volume dies down much more, but that intraday pattern will give you a headache. Lots of patience required.
HOKU - Below average daily volume finally and closed red at -6.57% after three green days.
TMA - A reliable bleeder after a nice run-up, this stock closed red at -21.09% today. It was very hard to get shares to borrow this time around though.
AGC - Closed red at -6.83% after a four day green streak on no news. Very fishy that's all I know.
Tuesday, October 21, 2008
10.22 Watchlist
TOMO - First day closing red at -6.26%.
CYTK - First day closing red at -5.33%.
HOKU - Up green at 19.28% on short interest, it should keep squeezing the shorts.
TMA - Just waiting for the green to red action when this stock finally settles down after finishing green at 57.06% since last Friday. Hopefully the volume dies down a bit as well as its short interest.
AGC - After three days of green, today this stock finished in the red at -0.32%. Lots of potential downside to this sketchy sketchy stock. Easy to borrow on TOS also.
CYTK - First day closing red at -5.33%.
HOKU - Up green at 19.28% on short interest, it should keep squeezing the shorts.
TMA - Just waiting for the green to red action when this stock finally settles down after finishing green at 57.06% since last Friday. Hopefully the volume dies down a bit as well as its short interest.
AGC - After three days of green, today this stock finished in the red at -0.32%. Lots of potential downside to this sketchy sketchy stock. Easy to borrow on TOS also.
Position Update
No position, no shares of TMA available to borrow just in case this morning because I didn't get up early enough. Watched the action today from the sidelines at my other job and fought the resistance to trade. Patience and discipline, discipline and patience.
TMA - Still keeping an eye on this one until it runs out of steam. It was a beast, as much as over 24%, closing out green at "only" 19.07%. Up 57.06% since Friday.
NYNY - Closed the day green at 9.52% with four straight days of green. Keeping a close watch on this one until it runs out of momentum.
JAG - Ahh it's first day closing red at -13.15%. Should have some more downside early tomorrow.
TOMO - Closed red at -6.26%. What a nice stock pattern...Three consecutive green days up at 49.1%, then red today!
CYTK - Huge morning spike, that eventually closed red at -5.33% after three consecutive green days.
TMA - Still keeping an eye on this one until it runs out of steam. It was a beast, as much as over 24%, closing out green at "only" 19.07%. Up 57.06% since Friday.
NYNY - Closed the day green at 9.52% with four straight days of green. Keeping a close watch on this one until it runs out of momentum.
JAG - Ahh it's first day closing red at -13.15%. Should have some more downside early tomorrow.
TOMO - Closed red at -6.26%. What a nice stock pattern...Three consecutive green days up at 49.1%, then red today!
CYTK - Huge morning spike, that eventually closed red at -5.33% after three consecutive green days.
Monday, October 20, 2008
10.21 Watchlist
TMA - Hey it's my old friend TMA! Closed green at 95.45% with a crazy last thirty minutes of the trading day. This stock has treated me well before, so I welcome it back with open arms. I hope I can reserve shares very early and make a quick gain within the first thirty minutes to an hour of the trading day. This is definitely going to be a grab and go on my part tomorrow morning!
SUMT - Ahh, this slow moving stock decided to end the last twenty minutes of the day with a ridiculous green finish. Same strategy as TMA.
NYNY - Same strategy as SUMT and TMA.
JAG - Same strategy as SUMT, TMA, and NYNY; finished the day green at 24.93%. Sort of too big of a company for me to deal with though.
TOMO - Green today at 34.15%. This hasn't done much before today.
CYTK - Finished green at 18.60% because of great trial results by this biopharmaceutical company. They're just trial results and the first of many approvals this company must go through. It takes a long, long time for drugs to get approved for medical use and most people are impatient.
SUMT - Ahh, this slow moving stock decided to end the last twenty minutes of the day with a ridiculous green finish. Same strategy as TMA.
NYNY - Same strategy as SUMT and TMA.
JAG - Same strategy as SUMT, TMA, and NYNY; finished the day green at 24.93%. Sort of too big of a company for me to deal with though.
TOMO - Green today at 34.15%. This hasn't done much before today.
CYTK - Finished green at 18.60% because of great trial results by this biopharmaceutical company. They're just trial results and the first of many approvals this company must go through. It takes a long, long time for drugs to get approved for medical use and most people are impatient.
Account Update
So far since October 1, the day I started this website, I have had three winning trades. I managed to earn my smallest gain with my latest trade of RDN - I held on a little bit longer than I should have instead of taking my usual profit early in the morning. Still, a gain is a gain and I live to trade another day and add a little more to my account. I started with 10K and now I am up solidly at almost 14%, well 13.68% to be exact, even with that extremely premature exit of RZ a couple weeks ago. I could only imagine what I can do if I were a full time trader not restricted by the PDT rule! These have been my easiest gains since I've revised my trading style!
Position Update
Just closed my RDN position at $3.92 for a small gain. I have a meeting and this thing is holding up. I can't risk it spiking up on me while I'm away; always keep a close eye on your position. A small profit is a small profit though.
At least I'm now 3 for 3 since I started my website!
At least I'm now 3 for 3 since I started my website!
Position Update
LGDI - The DOW is up, the Nasdaq barely down, and the S&P 500 up slightly, but this stock is a great bleeder this Monday morning - which is why I do NOT pay attention to what they are doing and I just concentrate on the current stock that I am playing folks! Congrats to those who were able to reserve or find shares of LGDI to borrow.
RDN - So far my patience is paying off. I'm on the winning side of this trade, keeping a close eye on this one and hopefully I can seal the deal today.
RDN - So far my patience is paying off. I'm on the winning side of this trade, keeping a close eye on this one and hopefully I can seal the deal today.
10.20 Watchlist
Still holding short 1,000 RDN at $4.13 from premarket Friday. RDN closed red at -9.49% last Friday, so I'm going to keep a close eye on this one.
I did not do much stock scanning over the weekend, but the only stock that briefly caught my eye last Friday was LGDI. This is an exploration-stage mining and agriculture resource development company that has had a great five day winning streak, closing Friday green at 34.34% and running extremely green up 146% since last Monday. After five days, it could run out of steam because of traders eventually taking profits. Other than LGDI, I'm pretty comfortable with my position, but I will still be keeping a close eye on RDN and hoping to take some profit. I want to see lots of red!
I did not do much stock scanning over the weekend, but the only stock that briefly caught my eye last Friday was LGDI. This is an exploration-stage mining and agriculture resource development company that has had a great five day winning streak, closing Friday green at 34.34% and running extremely green up 146% since last Monday. After five days, it could run out of steam because of traders eventually taking profits. Other than LGDI, I'm pretty comfortable with my position, but I will still be keeping a close eye on RDN and hoping to take some profit. I want to see lots of red!
Friday, October 17, 2008
Position Update
Still holding short 1,000 RDN at $4.13. I should have sold within the first fifteen minutes of the trading day because I expected this to not hold Thursday's run-up at the close. I was pretty comfortable with my position, but if I had gotten up much earlier, my entry point might have been a better one. Fortunately, I was able to keep a close eye on this stock even though I was at work because it's sort of a slow mover. For much of the day, this stock lingered around the $4 mark, but a couple of times it did test my pain threshold though. I decided to hold while I was still on the winning side of the trade; RDN closed red at -9.49% today. I plan to take my small profit on Monday and move on.
SUMT - Only good for barely a scalp today, closing red at 0.23%. Today was it's first red day and I hope this stock has finally run out of gas. Kind of a slow mover, but that's good for me so that I can watch it even while I am at work or at school.
MYEC - Very illiquid, but this closed red at a decent -4.63%
FTBK - Opened red, showed some strength, and then faded nicely in the afternoon to finish red at -4.33%. I don't really play big companies, but after four green days, it closed in the red today.
FRA - Tanked right out of the gates like I expected, but eventually showed strength and finished green at 4.17%. This is an example of why I usually take profits within the first fifteen to thirty minutes of the trading morning. This stock's chart now looks ugly and unpredictable to me. Yuck.
ELRA - Closed red at -0.97% for its second red day in a row. Only good for a scalp today, but it has downside potential.
IBNK - Opened red like I expected, but it made a run during the day only to fade back to red during the afternoon at -2.97%. This stock is a perfect example why I've learned to only short during the morning panic or during the afternoon fade. You would have needed a barf bag watching this stock. I'd stay away from this messy looking, unpredictable chart. It's been a while since I've been on this type of roller coaster of a stock, but that was when I didn't trade like how I do now.
PMFG - Opened red right at the very open like I predicted. Good for a very quick profit when you simply walk away from the stock with your money early in the trading morning and enjoy the rest of your day if you have a small account like mine that's restricted by the PDT rule. Just like IBNK, the chart's too messy and unpredictable for me to deal with.
SUMT - Only good for barely a scalp today, closing red at 0.23%. Today was it's first red day and I hope this stock has finally run out of gas. Kind of a slow mover, but that's good for me so that I can watch it even while I am at work or at school.
MYEC - Very illiquid, but this closed red at a decent -4.63%
FTBK - Opened red, showed some strength, and then faded nicely in the afternoon to finish red at -4.33%. I don't really play big companies, but after four green days, it closed in the red today.
FRA - Tanked right out of the gates like I expected, but eventually showed strength and finished green at 4.17%. This is an example of why I usually take profits within the first fifteen to thirty minutes of the trading morning. This stock's chart now looks ugly and unpredictable to me. Yuck.
ELRA - Closed red at -0.97% for its second red day in a row. Only good for a scalp today, but it has downside potential.
IBNK - Opened red like I expected, but it made a run during the day only to fade back to red during the afternoon at -2.97%. This stock is a perfect example why I've learned to only short during the morning panic or during the afternoon fade. You would have needed a barf bag watching this stock. I'd stay away from this messy looking, unpredictable chart. It's been a while since I've been on this type of roller coaster of a stock, but that was when I didn't trade like how I do now.
PMFG - Opened red right at the very open like I predicted. Good for a very quick profit when you simply walk away from the stock with your money early in the trading morning and enjoy the rest of your day if you have a small account like mine that's restricted by the PDT rule. Just like IBNK, the chart's too messy and unpredictable for me to deal with.
Position update
I got up early to reserve shares, but not early enough, and was able to short 1,000 RDN at $4.13 premarket. I could have had a better entry point this morning if I got up at 4:00AM PST. However, I think IBNK and PMFG are going to be better shorts for today. We shall see how RDN acts this morning.
Thursday, October 16, 2008
10.17 Watchlist
Yesssss, finally back up and running! I was able to scan a lot of stocks today and found quite a number with big run-ups during the trading day or two, but the plays below are what caught my eyes and drew my interest:
SUMT - After five straight green days, this stock finally went red to about -5.0% or so during the trading day to finish red at -0.70%. It's a slow mover that might have finally run out of steam. This will test your patience, but I've played slow movers before and have held multiday because of the PDT rule.
MYEC - This company finished green at 51.82% today on no news. This stock hasn't done a thing until today.
FTBK - Five straight green days finishing 54.03% during that winning stretch. I'm keeping an eye on this one until it finally runs out of momentum. I try to stay away from "real" companies such as this one.
RDN - Closed green at 39.81% today and green at 75.61% since last Friday. I'm going to try to reserve a few shares early tomorrow morning and short it during premarket.
FRA - Second red close in a row today, but it might be a slow mover though.
ELRA - This 58M "company" was a nice bleeder today closing red at -16.94%. This company could continue bleeding to death; a "hard to borrow" stock, so the early bird will definitely catch the worm on this one.
IBNK - Unbelievable surge during the last twenty minutes of the day finishing green at 20.65%. This would be a definite premarket short for me. I doubt that crazy surge will hold.
PMFG - Closed green at 14.75%. Another stock with an unbelievable surge during the last thirty minutes of the trading day.
SUMT - After five straight green days, this stock finally went red to about -5.0% or so during the trading day to finish red at -0.70%. It's a slow mover that might have finally run out of steam. This will test your patience, but I've played slow movers before and have held multiday because of the PDT rule.
MYEC - This company finished green at 51.82% today on no news. This stock hasn't done a thing until today.
FTBK - Five straight green days finishing 54.03% during that winning stretch. I'm keeping an eye on this one until it finally runs out of momentum. I try to stay away from "real" companies such as this one.
RDN - Closed green at 39.81% today and green at 75.61% since last Friday. I'm going to try to reserve a few shares early tomorrow morning and short it during premarket.
FRA - Second red close in a row today, but it might be a slow mover though.
ELRA - This 58M "company" was a nice bleeder today closing red at -16.94%. This company could continue bleeding to death; a "hard to borrow" stock, so the early bird will definitely catch the worm on this one.
IBNK - Unbelievable surge during the last twenty minutes of the day finishing green at 20.65%. This would be a definite premarket short for me. I doubt that crazy surge will hold.
PMFG - Closed green at 14.75%. Another stock with an unbelievable surge during the last thirty minutes of the trading day.
Wednesday, October 15, 2008
10.16 Watchlist
So far:
SUMT -
OPTR -
More to come.
Ok, I think my internet is finally really up now. It stinks having no internet!
SUMT -
OPTR -
More to come.
Ok, I think my internet is finally really up now. It stinks having no internet!
I Probably Missed a Few Opportunities...
My internet was down all day and now it's finally back up! Time to get this show back on the road again.
Monday, October 13, 2008
Scanning for Possible Shorts Tonight...
Is absolutely nuts! So many run-ups today, but they don't necessarily become an automatic short play for the morning. There are so many stocks that have run-up during today's "record rally." I have found quite a number of possible plays that have finished green today, up 20%, 30%, 40% and even over 50%! If I would have seen these plays a year ago, I would have carelessly shorted into any run-up like a Las Vegas gambler. This is where my patience, discipline, an research comes into play - as I have learned from my great trading teachers. I'll keep scanning for possible plays, but I might just wait until all of the irrational buying euphoria has subsided.
A Record Day for the Market...So What?!
So what if Wall Street stormed back after its worst week ever and had a "record" 936 point rebound for the DOW, a 195 point upswing for the Nasdaq, and a 105 point gain for the S&P 500. After an eight day slide, so what if we had the biggest one day rally since the Great Depression. All today meant is that we are back to where we were Wednesday afternoon folks. We actually need three more "record" rallies like today to get back to where we were before the eight day bloodbath. Just last year we were at about DOW 14K. The good thing about days like today is that there should be more shortable stocks because of all of the buying euphoria. I like to short into strength and not weakness, so I'll be keeping my eyes open for more plays in the very near future. Bull markets provide me with the opportunity to short into strength.
Position Update
I don't think keep track of which direction the Market is going, but even during a "record" 936 point rebound for the DOW, a 195 point upswing for the Nasdaq, and a 105 point gain for the S&P 500, we still had success with our short watches:
ESIC - finished red at -6.72%
LYTS - finished green at 8.63%. The chart is a rollercoaster and will give you a headache. This ugly chart has gotten uglier. I'm officially staying away from this stock now.
GPK - I overslept this morning, so I didn't get to reserve any shares to borrow during early premarket hours. My primary premarket watch finished red at 7.28% with a LOD at $1.60.
NCT - very very red most of the day with a LOD at $4.30, but finished barely green at 0.57%. This is an example why it's good to take your profit and not get greedy.
TRU - finshed red at -15.28%. This illiquid 22M "company" reeks of manipulation.
DYN - opened very red with a LOD at $3.16. It's a real company with a market cap of 3.42B, so odds are it will follow the direction of the Market. It looked like a great premarket short though.
TRE - did go red just for a little bit but ended up green for the day at 16.38%. The chart's ugly now and looks too unpredictable to me.
ESIC - finished red at -6.72%
LYTS - finished green at 8.63%. The chart is a rollercoaster and will give you a headache. This ugly chart has gotten uglier. I'm officially staying away from this stock now.
GPK - I overslept this morning, so I didn't get to reserve any shares to borrow during early premarket hours. My primary premarket watch finished red at 7.28% with a LOD at $1.60.
NCT - very very red most of the day with a LOD at $4.30, but finished barely green at 0.57%. This is an example why it's good to take your profit and not get greedy.
TRU - finshed red at -15.28%. This illiquid 22M "company" reeks of manipulation.
DYN - opened very red with a LOD at $3.16. It's a real company with a market cap of 3.42B, so odds are it will follow the direction of the Market. It looked like a great premarket short though.
TRE - did go red just for a little bit but ended up green for the day at 16.38%. The chart's ugly now and looks too unpredictable to me.
10.13 Watchlist
ESIC - finished green at 48.89%
LYTS - this stock has an ugly chart, but managed to finish green 27.61%
GPK - a stock that's been in a downtrend and suddenly finished green at 64.80% last Friday. If I could get up early enough, this would be the one I'd reserve shares to borrow during premarket and day trade.
NCT - an real estate investment group that finished green at 64.60% on no news that I can find. Now how smart are these guys that they'd dare to invest in real estate nowadays?
TRU - a 26M "company" that closed green at 54.36% - pretty illiquid though.
DYN - has a marketcap of 3B and a stock that hasn't done much until it closed green at 48.81% last Friday. Nice pop there, but I try to stay away from the real companies.
TRE - suffered its second red day last Friday with a drop of -17.14% while below its average daily volume. There should be a little more downside left.
LYTS - this stock has an ugly chart, but managed to finish green 27.61%
GPK - a stock that's been in a downtrend and suddenly finished green at 64.80% last Friday. If I could get up early enough, this would be the one I'd reserve shares to borrow during premarket and day trade.
NCT - an real estate investment group that finished green at 64.60% on no news that I can find. Now how smart are these guys that they'd dare to invest in real estate nowadays?
TRU - a 26M "company" that closed green at 54.36% - pretty illiquid though.
DYN - has a marketcap of 3B and a stock that hasn't done much until it closed green at 48.81% last Friday. Nice pop there, but I try to stay away from the real companies.
TRE - suffered its second red day last Friday with a drop of -17.14% while below its average daily volume. There should be a little more downside left.
Friday, October 10, 2008
Position Update - Check out these bleeders!
TONS - closed red at -21.50% today. If you got your borrows early this morning, I bet you made a pile of cash today on this bleeder!
MAV - closed red at -9.54% today. A great short immediately after the opening bell with a low of $6.88 today.
DENN - predictably opened red right out of the opening bell after the huge spike at the close of Thursday. This stock spiked into today's close again, actually finishing green at 6.31%...so similar to Thursday's close.
BXC - closed red at -3.68% with a low of $3.86 for the day.
DCGN - closed red at -18.18% today on this 22M "company." You can stick a fork in this one.
TRE - closed red at -17.14% after starting to run out of gas on Thursday. Second red day today which should make it a good short for this coming Monday.
PPC- finished green at 1.68%. The run-up hasn't been big enough to short into even though I've been keeping an eye on this one. I tend to not short stocks that finish green during down markets.
HMY - closed red at -3.04% making that two consecutive red days. The stock seems to be running out of gas with plenty of downside potential. With a marketcap of 3.73B, this is an real company with a very ugly chart - a risky short play in my eyes.
MAV - closed red at -9.54% today. A great short immediately after the opening bell with a low of $6.88 today.
DENN - predictably opened red right out of the opening bell after the huge spike at the close of Thursday. This stock spiked into today's close again, actually finishing green at 6.31%...so similar to Thursday's close.
BXC - closed red at -3.68% with a low of $3.86 for the day.
DCGN - closed red at -18.18% today on this 22M "company." You can stick a fork in this one.
TRE - closed red at -17.14% after starting to run out of gas on Thursday. Second red day today which should make it a good short for this coming Monday.
PPC- finished green at 1.68%. The run-up hasn't been big enough to short into even though I've been keeping an eye on this one. I tend to not short stocks that finish green during down markets.
HMY - closed red at -3.04% making that two consecutive red days. The stock seems to be running out of gas with plenty of downside potential. With a marketcap of 3.73B, this is an real company with a very ugly chart - a risky short play in my eyes.
Thursday, October 9, 2008
10.10 Watchlist
TONS MAV DENN BXC DCGN TRE PPC HMY
No current positions held, but I did use up a day trade today.
No current positions held, but I did use up a day trade today.
TMA - closed red at -26.06% today; I had close to zero doubt that this would be a very good short.
CEP - closed red at -8.74% today
TRE - closed red at -7.53% today; turned red a day or two earlier than I tought.
HMY - closed red at -10.41% today
UNFY - closed red at -21.88% today
DROOY - closed red at -3.92% today
RZ - closed red at -7.17% today; wow, red at about -40% since last Friday.
My total gains on two small positions:
Total gain: $1172
10/9 gain: $606
10/6 gain: $566
Had I held my short of 1,000 RZ at $8.38 last week, which is currently at $4.79: I'm guessing about $3500!
CEP - closed red at -8.74% today
TRE - closed red at -7.53% today; turned red a day or two earlier than I tought.
HMY - closed red at -10.41% today
UNFY - closed red at -21.88% today
DROOY - closed red at -3.92% today
RZ - closed red at -7.17% today; wow, red at about -40% since last Friday.
My total gains on two small positions:
Total gain: $1172
10/9 gain: $606
10/6 gain: $566
Had I held my short of 1,000 RZ at $8.38 last week, which is currently at $4.79: I'm guessing about $3500!
Position Update
TMA...Just like I had called it last night! Thanks to Mike (I think that's his name) from TOS who was able to locate shares for me to borrow very early this morning Pacific Standard Time during pre-market hours. Shorted 1,000 TMA at $3.30 this am. I will update later because I'm at work! Good luck guys.
Update: Trading, work, and an exam at school today made for a long and busy day. I start work very early, so my day started by calling TOS in order to reserve shares of TMA for me to borrow. I was able to reserve 1,000 shares of TMA at 530AM PST, which I thought was actually late. If I wanted to make sure I got my shares, I would have called as soon as TOS opened up at 400AM PST. My short position of 1,000 TMA at $3.30 went through as soon as the opening bell sounded! Almost every website is blocked by the information systems people at my work, but luckily Google Finance somehow gets through and I was able to keep a close eye on my position all day. I saw that the market opened green, then went very red, so I didn't want to chance another crazy spike by TMA happening near the market close, so I closed my short position early at $2.68 at 11:30AM for a profit of $606 while using up a daytrade. Two solid, stress free trades in a little over a week!
Update: Trading, work, and an exam at school today made for a long and busy day. I start work very early, so my day started by calling TOS in order to reserve shares of TMA for me to borrow. I was able to reserve 1,000 shares of TMA at 530AM PST, which I thought was actually late. If I wanted to make sure I got my shares, I would have called as soon as TOS opened up at 400AM PST. My short position of 1,000 TMA at $3.30 went through as soon as the opening bell sounded! Almost every website is blocked by the information systems people at my work, but luckily Google Finance somehow gets through and I was able to keep a close eye on my position all day. I saw that the market opened green, then went very red, so I didn't want to chance another crazy spike by TMA happening near the market close, so I closed my short position early at $2.68 at 11:30AM for a profit of $606 while using up a daytrade. Two solid, stress free trades in a little over a week!
Wednesday, October 8, 2008
10.9 Watchlist
I didn't get to trade today because of a very important meeting I had at school today. I did miss out on a couple solid calls, but there will always be another opportunity around the corner. I've learned to never trade just for the sake of trading. The PDT rule absolutely stinks as well!
TMA - Wow today was super crazy day for this stock! Just like I called it, it would have been a great short play right from the opening bell. Did anyone see that close?! A 25% or so spike in the last fifteen minutes and TMA finished green for the day! This looks so suspicious to me and I'm definitely going to focus on this one during pre-market tomorrow.
CEP - The chart's been in a steady downtrend for the past week. It had a huge spike and closed green today at 13.61%...but I really like way that spike was immediately followed with some downward pressure.
TRE - A gradual rise since Monday's close. It closed green at about 34% today, having two consecutive green days. This might be a good short in the near future.
HMY - I'm keeping an eye on this one. It closed green today at 34.77%.
UNFY - A 30M "company" very very illiquid stock that closed green, very green at 53.42% today. I doubt it'll stick.
DROOY - Ha! At 17M, can you even call this a "company?" It closed green at 22.34% though. A "hard to borrow stock" on TOS.
RZ - I expected this stock to get rocked, but I didn't think it would get rocked and annihilated this bad! Closed red again at -20.62% at $5.16. Aww man, I left so much on the table from my short position of $8.38, but I will not chase this stock downwards. Aww crap...a definite "coulda, shoulda, woulda!"
TMA - Wow today was super crazy day for this stock! Just like I called it, it would have been a great short play right from the opening bell. Did anyone see that close?! A 25% or so spike in the last fifteen minutes and TMA finished green for the day! This looks so suspicious to me and I'm definitely going to focus on this one during pre-market tomorrow.
CEP - The chart's been in a steady downtrend for the past week. It had a huge spike and closed green today at 13.61%...but I really like way that spike was immediately followed with some downward pressure.
TRE - A gradual rise since Monday's close. It closed green at about 34% today, having two consecutive green days. This might be a good short in the near future.
HMY - I'm keeping an eye on this one. It closed green today at 34.77%.
UNFY - A 30M "company" very very illiquid stock that closed green, very green at 53.42% today. I doubt it'll stick.
DROOY - Ha! At 17M, can you even call this a "company?" It closed green at 22.34% though. A "hard to borrow stock" on TOS.
RZ - I expected this stock to get rocked, but I didn't think it would get rocked and annihilated this bad! Closed red again at -20.62% at $5.16. Aww man, I left so much on the table from my short position of $8.38, but I will not chase this stock downwards. Aww crap...a definite "coulda, shoulda, woulda!"
Five Things I've Learned Since Starting This Blog Last Week:
1. Blogging does indeed help you think about your trading strategy more thoroughly.
2. Blogging makes you wait for the right opportunity to trade, thereby testing your patience and discipline.
3. There are tons of people out there to learn from!
4. There's nothing better than collaborative minds coming together to help you see different facets of a subject.
5. Blogs will help me become a better trader because not only does it help me keep track of my gains and loses, but the more people that are watching me, the more disciplined I will have to become.
2. Blogging makes you wait for the right opportunity to trade, thereby testing your patience and discipline.
3. There are tons of people out there to learn from!
4. There's nothing better than collaborative minds coming together to help you see different facets of a subject.
5. Blogs will help me become a better trader because not only does it help me keep track of my gains and loses, but the more people that are watching me, the more disciplined I will have to become.
My Very First Week Here Already!
My first week on the internet has come and gone by so quickly and I just want to thank everyone who has stopped by and read my blog. I'm learning so much and it's been extremely fun for me. Not only am I learning how to establish and maintain a website, I'm learning more and more about trading stocks - about what works and what doesn't work. Once again, thanks for dropping by my little space here on the internet. Good luck to all always and let's just get out there and make a pile of money!
Tuesday, October 7, 2008
10.8 Watchlist
Well, I did some searching and these are the few plays that caught my eyes in this tough market. Patience is a must!
RZ - closed red at an additional -11.32% today. A nice simple chart with that should have more downside left.
TMA - closed red at an additional -12.42% today. Still not on the SEC short ban list when I last checked. I think it's just a matter of time until we can stick a fork in this mortgage company. A 101M mortgage company that's still in business in today's economic climate?! Ha yeah right!
CIX - green at 9.71% with a sharp spike at the close today. Otherwise, this stock hasn't done a thing and should give back some.
GGC - a chemical company that closed green at 18.40% on no news. Otherwise this stock hasn't done a thing as well.
WH - closed green at 14.56% today. Sketchy 600M "company" that does business through China. A hard to borrow stock on TOS.
RZ - closed red at an additional -11.32% today. A nice simple chart with that should have more downside left.
TMA - closed red at an additional -12.42% today. Still not on the SEC short ban list when I last checked. I think it's just a matter of time until we can stick a fork in this mortgage company. A 101M mortgage company that's still in business in today's economic climate?! Ha yeah right!
CIX - green at 9.71% with a sharp spike at the close today. Otherwise, this stock hasn't done a thing and should give back some.
GGC - a chemical company that closed green at 18.40% on no news. Otherwise this stock hasn't done a thing as well.
WH - closed green at 14.56% today. Sketchy 600M "company" that does business through China. A hard to borrow stock on TOS.
Postions Update
ACHN - closed green 1.21%; an illiquid play that was good for a little scalp here and there as it touched red territory; I don't really like scalping though.
WVCM - closed red -2.75% after being up 55.71% on Monday. This is the first down day on a buyout proposal with mixed sentiment by investors. Pops like this had on Monday are pretty difficult to sustain usually and that's why I put it on my Watchlist yesterday as a short play to watch.
TRXI - closed red -9.08% for the day for this 20M "company." Ha!
DNDN - closed red -19.19% for the day. Triple the daily average volume and the first down day after a pop of 32.6% on Monday! It's very tough to be a biotech company.
SLXP - closed red -0.57% for the day after being up 24.30% the previous day, otherwise the stock hasn't really done too much.
CHIC - closed green 2.62%; after six down days. However, this company's poor fourth quarter outlook coupled with a tough holiday shopping forecast will only add to this company's problems. It opened at 9.71 with a low of 9.49; I kept an eye on this one, but the stock didn't know whether or not to stay red for the day.
RZ - aww man RZ! Closed red an additional -11.32% and closed at 6.50 today! I hope you guys made more on this play. Shoulda, coulda, woulda! as for me, I absolutely left a good amount of money on this call!
WVCM - closed red -2.75% after being up 55.71% on Monday. This is the first down day on a buyout proposal with mixed sentiment by investors. Pops like this had on Monday are pretty difficult to sustain usually and that's why I put it on my Watchlist yesterday as a short play to watch.
TRXI - closed red -9.08% for the day for this 20M "company." Ha!
DNDN - closed red -19.19% for the day. Triple the daily average volume and the first down day after a pop of 32.6% on Monday! It's very tough to be a biotech company.
SLXP - closed red -0.57% for the day after being up 24.30% the previous day, otherwise the stock hasn't really done too much.
CHIC - closed green 2.62%; after six down days. However, this company's poor fourth quarter outlook coupled with a tough holiday shopping forecast will only add to this company's problems. It opened at 9.71 with a low of 9.49; I kept an eye on this one, but the stock didn't know whether or not to stay red for the day.
RZ - aww man RZ! Closed red an additional -11.32% and closed at 6.50 today! I hope you guys made more on this play. Shoulda, coulda, woulda! as for me, I absolutely left a good amount of money on this call!
Monday, October 6, 2008
10.7 Watchlist
ACHN - huge price spike right at the end of the day on a stock that has not done much.
WVCM - closed green 55.71% on a buy out offer.
TRXI - this 20M "company" closed green 37.50% today.
DNDN - closed green 32.69% on drug trial results.
SLXP - closed green 24.30% on drug trial results.
CHIC - nice easy downtrend, closed red a total of 9.57% during the last week.
I did pretty good with my multiple day short of RZ, but i know I left a few hundred dollars on the table with my early exit this morning; I don't want to be too greedy because greed has burned me before. Otherwise, a solid predictable trade from my eyes with this slow moving chart.
The highlight of my trading day - wise words from Muddy and being added to the DSOT blog! Lessons from the great Muddy!
WVCM - closed green 55.71% on a buy out offer.
TRXI - this 20M "company" closed green 37.50% today.
DNDN - closed green 32.69% on drug trial results.
SLXP - closed green 24.30% on drug trial results.
CHIC - nice easy downtrend, closed red a total of 9.57% during the last week.
I did pretty good with my multiple day short of RZ, but i know I left a few hundred dollars on the table with my early exit this morning; I don't want to be too greedy because greed has burned me before. Otherwise, a solid predictable trade from my eyes with this slow moving chart.
The highlight of my trading day - wise words from Muddy and being added to the DSOT blog! Lessons from the great Muddy!
Hey I think I'm getting much better at shorting, but only time will tell! Check out how my picks did today:
MKS - closed red -15.67%
AEF - closed red -10.29%
PRD - closed red -16.40%
RZ - closed red -8.49% I know I left some money by closing my position early, but a gain is a gain!
TMA - closed red -8.02% A "hard to borrow" stock on Thinkorswim.
MKS - closed red -15.67%
AEF - closed red -10.29%
PRD - closed red -16.40%
RZ - closed red -8.49% I know I left some money by closing my position early, but a gain is a gain!
TMA - closed red -8.02% A "hard to borrow" stock on Thinkorswim.
Positions update
Closed my short position of 1000 RZ from last Wednesday @ 7.80 at 7:26PST for a profit of about $566 after commissions. Wow, pretty good considering the ugly ugly spread on this one at times. I rarely pay attention to the exact amount of profit I make; I just want to know if I made a solid trade or not and the profit will take care of itself. I know I could have made closer to $1000 if I had bought the stock back on Thursday or Friday, but I noticed around this time it bottomed out during those days so that's why I closed my position now. I try not to think about the "coulda shouldas" and not be emotionally attached to the stock. I don't want to be greedy either. This one really tested my patience and I'm ready to move on.
10.6 Watchlist
Not many stocks out there that caught my eyes except the following:
MKS - closed green at 78% on Friday with a HOD at $10 and closed at $8.55; huge spike and I could not find any news why it was.
AEF - closed green at 24% on Friday.
PRD - closed green at 25% on Friday, ugly ugly chart though.
CIT - keeping an eye on this one because they asked the SEC to add them to the short ban list...hmm.
RZ - maybe time to take a little profit on this slow mover.
Good luck everyone, let's make a pile of money!
MKS - closed green at 78% on Friday with a HOD at $10 and closed at $8.55; huge spike and I could not find any news why it was.
AEF - closed green at 24% on Friday.
PRD - closed green at 25% on Friday, ugly ugly chart though.
CIT - keeping an eye on this one because they asked the SEC to add them to the short ban list...hmm.
RZ - maybe time to take a little profit on this slow mover.
Good luck everyone, let's make a pile of money!
Friday, October 3, 2008
As Newton learned: What goes up, must come down.
When I first started trading about a year ago, I had the notion that one can only make money by trading the big name stocks such as AAPL, RIMM, MSFT, AXP, etc. I watched Jim Cramer, Fast Money, and my tv was constantly tuned into CNBC and I listed to every finance "experts" take on the next hottest stock. Over time, I learned that there's no way to predict how these stocks will move over a few days or weeks. I was thinking that if these so called finance "experts" were such "experts", why don't they just stay home and sit in front of their computer and just make themselves a bigger pile of cash than everyone else? I've learned that these "experts" cannot predict a stock any better than I can. At my day job at the hospital, I even like laughing at the financial planner that comes once a week to give people finance advice; I think he's starting to figure out that I'm laughing at him because I know that he knows little! I've become a better trader, have had less headaches, and have had more sleep ever since I turned most of my attention to small companies ala Timmay style and shorting the crap out of them.
CPWM - HOLY CRAP I hope someone shorted the crap out of this one! Up on no news yesterday and today red at 24.8%! Holy crap I love it.
CALC - a 20M "company?" Can they even be called a "company?" Beautiful spike up to $2.50 and then down she went.
TMA - I used the TOS Stockhacker to find this one and I found that it had ran 180% since Tuesday. A small mortgage company that's spiking up? I'm a big skeptic. And I also found that it was NOT on the SEC short ban list. Three and a half up days and it was bound to give back. Closed red at 14.51% today and I hope someone shorted the crap out of it.
ATML - closed red at 9.55%
CKSW - sort of illiquid, but it's been up around 20% since Tuesday. Hopefully it'll keep climbing so we can short this 72M "company" and make more than a just scalp.
EPIC - price surge on a buyout offer, otherwise no other big news other than the buyout offer. Closed red at 3.97% today.
CPWM - HOLY CRAP I hope someone shorted the crap out of this one! Up on no news yesterday and today red at 24.8%! Holy crap I love it.
CALC - a 20M "company?" Can they even be called a "company?" Beautiful spike up to $2.50 and then down she went.
TMA - I used the TOS Stockhacker to find this one and I found that it had ran 180% since Tuesday. A small mortgage company that's spiking up? I'm a big skeptic. And I also found that it was NOT on the SEC short ban list. Three and a half up days and it was bound to give back. Closed red at 14.51% today and I hope someone shorted the crap out of it.
ATML - closed red at 9.55%
CKSW - sort of illiquid, but it's been up around 20% since Tuesday. Hopefully it'll keep climbing so we can short this 72M "company" and make more than a just scalp.
EPIC - price surge on a buyout offer, otherwise no other big news other than the buyout offer. Closed red at 3.97% today.
Positions update
I'm still holding my position of 1000 RZ @ 8.38 from Wednesday. This stock fluctuated between 7.51-8.21 today, but I've been keeping a very close eye on this stock via my Blackberry. This slow moving stock has been really testing my patience and I've been so tempted to buy back the stock and close my short position a couple of hours into the trading day. I rarely hold positions over the weekend, but I'm pretty confident that I'm in great shape since my Wednesday position. I'll keep an eye on RZ again this coming Monday and if its still moving slow, I wouldn't mind taking my profit and moving on to the next play.
SEC Short Ban List
Here's the SEC website that's updated nightly:
http://www.nyse.com/about/listed/1222078675703.html?sa_campaign=/internal_ads/callouts/09222008seclist
And here's the list itself as a pdf file:
http://www.sec.gov/rules/other/2008/34-58592.pdf
http://www.nyse.com/about/listed/1222078675703.html?sa_campaign=/internal_ads/callouts/09222008seclist
And here's the list itself as a pdf file:
http://www.sec.gov/rules/other/2008/34-58592.pdf
Thursday, October 2, 2008
10.3 Watchlist
I don't really keep track of too many possible plays because I'm very limited by my tiny account, so I try to narrow it down to just a few that I can concentrate on, but in this case the majority of my attention will be on RZ. Here's a list of the ones I'll be keeping my eyes on:
RZ - still short 1,000 @8.38 from Wednesday. This might be a multiday short. Kind of a slow mover also, so it's easy to keep an eye on. Closed red about 4% today after climbing steadily for the past few days. This is the type of pattern I've learned to play...Thanks Tim!
CPWM - I haven't seen any significant news on why this should be up?
CALC - Should have more downside left and it could be quick; second red day in a row and I'm thinking it'll continue. A residential land development and homebuilding company...yeah right in today's world?!?! Stick a fork in this one because it should be done.
TMA - not on the SEC short ban list.
ATML
CKSW
EPIC
RZ - still short 1,000 @8.38 from Wednesday. This might be a multiday short. Kind of a slow mover also, so it's easy to keep an eye on. Closed red about 4% today after climbing steadily for the past few days. This is the type of pattern I've learned to play...Thanks Tim!
CPWM - I haven't seen any significant news on why this should be up?
CALC - Should have more downside left and it could be quick; second red day in a row and I'm thinking it'll continue. A residential land development and homebuilding company...yeah right in today's world?!?! Stick a fork in this one because it should be done.
TMA - not on the SEC short ban list.
ATML
CKSW
EPIC
Sorry this post is so late, but I had a long day today that included work and school that was preceded by only having an hour's worth of sleep last night. After being on Green on the Screen, my "five minute" nap turned into a couple hours! How so unproductive! Anyway, I've been taking baby steps with this entire project and today I was told that Muddy has seen my blog! THE Muddy! I'm absolutely floored that such a seasoned trader would take notice of a small time rookie trader such as myself. I'm humbled and I'm still floored!
One thing I've learned, specifically from Tim Sykes, is that if you cannot keep a close eye on your position, then you should get out of it so that you don't risk losing money by having the stock go in a direction that you didn't anticipate. Luckily, I was able to go to my job and keep a close eye on my sole position. I'm still short 1000 RZ @8.38. The stock closed red at 4.19% at 8.00 with a low of 7.28 of the day. I was so tempted to take profits early in the morning (pacific standard time) because I found that a profit of about 5-7% very nice...and you just never know in this volatile market. But, I was able to keep a very very close eye on my position, so I decided to let this winner ride. RZ's not exactly a Sykes Supernova, but it's been up over 80% since last Thursday - what goes up, must come down. I think RZ has more downside left, considering people will take profits when they can. This might even be a multiday short for my little account. We shall see...
One thing I've learned, specifically from Tim Sykes, is that if you cannot keep a close eye on your position, then you should get out of it so that you don't risk losing money by having the stock go in a direction that you didn't anticipate. Luckily, I was able to go to my job and keep a close eye on my sole position. I'm still short 1000 RZ @8.38. The stock closed red at 4.19% at 8.00 with a low of 7.28 of the day. I was so tempted to take profits early in the morning (pacific standard time) because I found that a profit of about 5-7% very nice...and you just never know in this volatile market. But, I was able to keep a very very close eye on my position, so I decided to let this winner ride. RZ's not exactly a Sykes Supernova, but it's been up over 80% since last Thursday - what goes up, must come down. I think RZ has more downside left, considering people will take profits when they can. This might even be a multiday short for my little account. We shall see...
Just Some of the Top Trading Lessons I Have Learned So Far:
1. Discipline and patience. Patience and discipline.
2. Do your research.
3. Cut your loses quick and know when to admit when you've made a bad trade; you'll live to trade another day.
4. Take your profits; a profit is a profit no matter how small...it's better than losing money.
5. Learn to control your emotions!
2. Do your research.
3. Cut your loses quick and know when to admit when you've made a bad trade; you'll live to trade another day.
4. Take your profits; a profit is a profit no matter how small...it's better than losing money.
5. Learn to control your emotions!
Wednesday, October 1, 2008
10.2 Watchlist
RZ - My primary short - 4th consecutive green day today, this one's about to give I think. I'll be keeping a close eye on this one.
OSK PNTR CNXT AFFM AEZ AGM EFJI CLCT CALC
OSK PNTR CNXT AFFM AEZ AGM EFJI CLCT CALC
Welcome!
Welcome to my very first blog fellow traders! I'm very excited at my first attempt at blogging, having been inspired by my teachers THE Tim Sykes, 13th, Muddy, and Laura as well as my fellow traders such as Reaper aka Michael Goode, Johnnyvento and TMK. I believe that you can always learn something from all types of traders whether or not you agree with their strategy or opinion. We're all here to make money! My interest in trading began when I started watching Wall Street Warriors Season I and Tim Sykes; he is the first trader that I started following and I still follow and learn from him today; I will always learn from him. A few months ago, I was fortunate enough to be invited by 13th to his chatroom "Green on the Screen" where trade ideas for the day come rapid fire as soon as the morning bell rings. I've learned so much from Tim, 13th, Laura, and Muddy. These are seasoned veterans who definitely know what they're talking about, so it's best that rookie trader such as myself listen. Most importantly, I've made some dumb trading mistakes and I've learned from them as well. Everyday there is something to learn and I only want to become an even better trader with each passing day and with each profitable trade, as well as the unsucessful ones. As soon as I find my way around all of these blogging tools, I will be able to post my own watch lists. I have learned a tremendous amount from my trading teachers and now I have the guts to put my trade ideas out there for all to see. Well here we go...
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