5 Stocks In Play Right Now: Day Trading Charts For One And All!
Posted by timothysykes on Thu 10th of Apr, 2008 08:51:39 AM
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Yesterday I posted charts I was watching without commentary, thinking–or hoping–you guys were beginning to understand this game…other than 1-2 correct answers, the lot of you are still lost…tells me I’ve got a lot more work to do! That’s fine, bring it, one opportunity at a time…here’s today’s watchlist in order of the likelihood of me playing them:
(COT) Multi-day breakdown if and when it cracks $3.25, several failed tries now, scary scary stock to short…got me thinking that even if it does crack, it might still bounce…we’ll see
(NOG) Who says the 3rd up day of a big runup is usually a down day? Well, I do…but not when it’s during a multi-month breakout on solid news with a solid base just $2 below…last time this thing spiked, it jumped 55%, that would put a similar spike at $11..before shorting, wait to see the whites of their eyes!
(ORGN) We talked about this one yesterday and some of you profited nicely from shorting into that financing-news-induced-spike, let’s see how it plays out, I’m in no rush to short a stock already 50 cents off its highs
(VLNC) You think I’m cynical when it comes to these fraudulent crap companies, helllll no! I don’t do the digging not only because it’s safer to think the worst of each and every company (you’ll never be disappointed1) but because I’m afraid of what I might find.. Citron Research has no such qualms, check out their review on recent high-flyer VLNC. Scary stuff, these guys have a good track record, so you gotta respect their influence.
TIM Lesson: Never be long a Citron Research-covered company….ever
(GBRC.PK) Nice little two-day spike, but it’s really not up enough and it’s tough to find shares to short, boooooooo
Now you can Twitter any questions/comments to TIMhelp and obviously you can follow TIM on twitter too!
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TIM Alerts
View All| Date | Stock | Position | Ideal Exit | % Gain |
|---|---|---|---|---|
| Nov 24 | KVHI | Short | $3.70 | 18% |
| Nov 20 | STSX | Short | $3.10 | 11% |
| Nov 18 | PERY | Short | $3.75 | 25% |
| Nov 11 | IIJI | Short | $2.80 | 5% |
| Nov 6 | CVI | Short | $4 | 15% |
| Nov 5 | MECA | Short | $1.95 | 51% |
| Nov 4 | CVI | Short | $4.81 | 4% |
| Nov 3 | NAK | Short | $3.20 | 5% |
| Oct 29 | EVC | Short | $2 | 26% |
| Oct 28 | HSNI | Short | $6.80 | 7% |
| Oct 28 | HSNI | Short | $5.75 | 4% |
November: 9 alerts, 15% avg gain
October: 11 alerts, 14% avg gain
How about BPAX Tim. low volume. Looks just like PSTI
Yes, you committed to teach us, so we need to learn, explanation would be great opportunity to learn and understand. Without explanation, for example, TITN yesterday was breaking up into a new 52 week high but failed and dropped back. Had you shorted that one at open and waited 15 minutes, you would have 1.5 points gain. But it bounced back made 52 week high, and then at closing, it was all red. Without keen eyes to look and bright mind to understand, you will be toasted. Thanks for descreptions on each chart today.
bpax, still 30 cents away from breakdown, probly not gonna happen today
TITN, i don’t short breakouts, risk reward sucks…i dont buy titn either cuz of so many failed breakouts
Missed the damn PSTI spike, in at 4.50.. Tim you still in this?
covered 1/2 at 4.40, not liking these big buys and its inability to crack this 4.35-4.40 crap
cool guess i covered 700 not 500 shares, good i’ll take that, reduces my risk and i have no problem holding these 300 shares, either cover when it cracks or add when it spikes
thanks for the charts tim, you should make a paysite for it and allow members only to view it. $2.95 a month, or something like that.. hell, I wouldn’t mind paying $10 a month.
made alittle money on IMMR
Early to tell, but it looks as though NOG may be finding resistance around $9.75, and may start to go sideways around $9.50. How much of a drop do you think we will see from this between today and tomorrow?
IMMR is dropping drastically. I got a good short this morning, hope it continues.
no, this’ll never be a pay site, maybe a premium feature somewhere down the line, but i wanna open this game up to everyone, too many bastard pay sites have kept it a closed society for too long
nog, i hate commodities plays, i hate amex, i doubt i’ll even play this one unless the price action is really exemplifying an afternoon fade
Thanks TIM. I don’t sign up for pay sites. Am a 20-something who has lots of bills/college loans/rent to pay every month. Need to conserve every last dime if I want to have any trading capital. Thanks for keeping your site open to us common guys.
NOG, already faded, down at $9.15, probably will bounce back, a guess.
hmm, prts cracking soon? can’t seem to bust $4
yeah NOG mornign breakdown not ideal for me
PRTS so what if it does crack, what its gonna do go up 20-30 cents max? booooooooooooring. focus on volatile stocks
cot!
Tim-
Do you think the penny stocks follow the Japanese candlestick patterns any better or worse than more widely traded stocks?
Thanks
bye bye COT
damn cot, couldnt wait til the afternoon that sux
of course i think penny stock charting is more effective, there’s no fundamentals, technical analysis is your only guide whatsoever
MBRK trying to breakout. Needs some volume,
problem with MBRK is its a turd, got a lot of conservative thestreet.com investors in i t and like taking their 5-10% gains, makes breakouts tough
Thanks for the Citron Research link TIM. Now that is TRUE FUNDAMENTAL ANALYSIS.
COT isn’t moving! I’ll never understand what dilweeds are keeping this POS alive.
They make RC cola for fucks sake!! Anyway, support is moving in price. Everytime the stock moves up a cent, big orders move up a cent. Prolly need to see a real crack to jump in.
ignore COT’s fundamentals, this is a morning breakdown, not as reliable as in the afternoon
PSTI just cracked 4.35
for a few seconds…
NCEN taking a hit all of a sudden
4.35 isnt as important as 4.30 and 4.25 (u dont know the exact suport point, just judging from big block buys there)…not gonna be easy to crack, volume is anemic, reserved another 1,000 shares to short just in case
NCEN should get hit, it was a dead cat bounce
covered the rest of PSTI at $4.37 up 14 cents/share, too many big block buys, anemic volume, taking too long to break support…this is just me being me, still have 1,000 shares to short later if it ever decides to take out 4.30/25 convincingly
Since you are mentioning it right now Tim, when you “reserve” shares at ToS, are they simply setting aside the amount you ask for? No fees involved until you put the short into play? If so is there a limitation to how long they hold the shares for you?
(I asked this in the Q/A forum last night if you want to reply there.)
Tim,
Could you give a quick how-to on reading Level II charts? I know you mentioned you don’t use them much but you keep referencing them. What do large orders on the bid and ask sides tell you about the potential price movements?
fleeter, just answered your Q in the forum
COT just cant hold up, really wish itd go sideways, ah well missed out on 10 cents/share….so far
gerlando, on the new site, there’s gonna be many basics articles, reading level 2 will be one of them
Tim, will you have screenshot examples from TOS of what you see, ie level 2, screen configs, etc. Thanks.
‘ll have screenshot but it wont be from TOS, i use etrade pro cuz i’ve used them since my big $ days, i dont use them as a broker just for visuals
You know that’s what I do as well, partly because I can’t see Level 2 buy/sell blocks, not sure what I need to do to see them…
Tim…I cant wait for your Level II tutorials! Ive never been sure if Im reading them correctly. Thanks!