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Scanning The Horizon For Worthy Stock Trades

Posted by timothysykes on Fri 11th of Apr, 2008 09:04:31 AM
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stormy2 Scanning The Horizon For Worthy Stock Trades

Thanks to (GE)’s pathetic excuse for a business, it’s stormy out there today! No new stocks on my radar today…lots of microcrap traders are playing (FRPT) and (MNKD)—TheLion.com’s all hopped up on them as if they were Mountain Dew. I like volatile low priced stocks just as much as the next guy–ok, maybe more–but not those of falling knives—their movements are based on rumors and speculation of further contracts/news…I hate trying to predict news…no I prefer predicting the effects of sketchy promoters and gullible suckers.

Speak of the devil..unfortunately, there’s no shares available to short of (PSTI) today—something tells me it’s gonna take the big dump under $4 today or Monday, but with my impatience there was little chance at me holding for a few days…as would be the correct course of action (as is usually the case aka you can do better than me!)

(COT) looks ripe for a big fall, at least down to $3, then it’s a question of whether or not it can take out stop losses there.

Also looking at the solars…(ASTI), (SOLF), (AKNS) look ready for some big dumps of their own—and with today’s utter trashing of (GE), the overall market is gonna start down big

If I do trade, I’ll probly wait for some afternoon fades—even though I ripped on (CRY) and (NOG) for being higher priced stocks, they’ve both continued to act perfectly…late yesterday, NOG even exemplified a damn near perfect reversal of multi-day gains, right when the stock went negative on the day, afternoon crack of sideways price action and all!

aaa Scanning The Horizon For Worthy Stock Trades

Goddamn that’s a beautiful thing…print that chart out and hide it under your bed—just don’t let mom find it! (not that I could’ve played that chart considering all my PSTIing  and the 48584748th time the SEC-reign-of-terror-rule has limited my trading…what a waste!) (SEC, I’m gonna keep documenting each and every time you screw me—and the thousands of small traders TIM represents—so you can better understand how harmful this rule is)

UPDATE: PSTI did in fact break $4, on its way to $3.50…rather easily…$1,200-$1,500 profit from $5, just need patience, very sad I only squeezed $500 out of it…just as NOG and CRY stopped acting nicely and reversed, yet another lesson in why low priced stocks rock!

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  • Andrew
    I know I won't shut up about it but I'm liking COT a lot today. Two days ago it broke a 6 day pennant, and been falling since. There's only so much money people can be putting in to keep this pos alive. As you said Tim, looks ripe to crack.
  • lmsmith
    TIM--- yes...you're finally on My AKNS bandwaggon........ I covered my short last week at some point- I wish I held it.....gosh talk about patience that I don't have...... the POS fell as I thought it would...that is one solar stock that sucks!! can't hold gains....
  • cacaosteve
    How far under 4 will PSTI go?
  • timsykes
    Yup, wish I had enough buying power yesterday to short COT overnight...

    I'm never on any bandwagon, I've always though the solars would drop, but it wasn't worth my time/capital to care since I could only take a few hundred shares...as u see I use all my buying power nearly every day

    PSTI is not guaranteed under $4 by any means, question is will these big block buyers remain...doesnt matter to me, i cant short it

    Somehow I think I won't even trade today, $900 on the week, not bad at all though!
  • puma
    i know the majority of us are traders, not long term investors, but if GE goes any lower im buying and stashing it. better div interest than any CD out there plus probable long term gains.

    just felt like sharing my opinion, please go ahead and criticize lol
  • timsykes
    nothing wrong with longterm investing, i have $75k positions in both VWELX and PRPFX, 2 much safer long-term investments than any one single stock ever will be
  • bryan
    Timmay...IKN..its looking ripe for a lil chutes and ladders....being the chute of course..is this too risky due to the good guidance?
  • Andrew
    Nice 55,100 sell order on cot
  • monkiman
    dayum, PSTI down again... I need to get a 3 day coma pill
  • bryan
    eat a xanax when you wake up
  • lmsmith
    PSTI-down it goes
  • I love reading your blog, and realize that you are sometimes a sensationalist, but "Thanks to (GE)
  • bryan
    just dont buy ge on the way down...just like the guy says on wsw season 2..."if your gonna buy this thing on the way down you shouldnt be in this f#ckin business"
  • cacaosteve
    Probably going to cover PSTI soon... or should I go into a coma for a few more days?
  • puma
    yea cacaosteve, cause everyone on wsw is 100% correct? ...or the next warren buffet right? what happened to being greedy when others were fearful? This is a great IRA opportunity or long term investment. I think the context of what they meant on WSW was trying to catch a falling knife, not a falling star. Plus GE is showing support at 32.50 or so, not even below its 52 week low, hasnt be this cheap in nearly 5 years.
  • bryan
    your right just let it bottom and start back up...its not a falling star but it could be haileys comet ; )...people might need to check it out
  • Webster
    PSTI was perfectly diagnosed on this blog and I tried to get shares yesterday at 4.40. Ameritrade would not allow me to short a non-marinable stock. Learned a lesson and need to move money over to a new broker.

    Congrats to all that got in on this play. Down to 3.50!
  • cacaosteve
    PSTI bid at 3.40, ask at 3.74, and my order at 3.62 just filled! I had shorted at 4.41. Good thing I switched to thinkorswim.
  • Webster
    Thanks for rubbing it in.
  • Its looking more and more like I need to change to think or swim - I agree with you cacaosteve...
  • timsykes
    PSTI makes me sic--I faked myself out for no reason...good way to turn $1,200-$1,500 in easy profits into $500...the learning continues...

    Screw GE...their quarter sucked, I'm gonna call em out on it, I wouldnt buy for my IRA, for my my mom, not even for my worst enemy, its back to being a random stock, not that it ever wasnt

    Yes all switch to thinkorswim and tell em i sent ya!
  • John
    Is BCSBD worth shorting? It is up 75% today but no shares available at Scottrade.
  • bryan
    Timmay need some advice....shorted GEECF up %2100 since christmas...im feeling the pain here is this a POS company? should I hang on and use that patience or did it run up from .03 to .71 for a reason.....
  • timsykes
    u dont touch bcsbd, its a weird financing deal thing

    u deserve pain on GEECF, u dont just short random strong stocks, especially those under $1...as i preach....i have no idea what it'll do, its not a shortable pattern yet. and who cares about since christmas, focus on strong 1-3 day stocks, preferably up on fake news, stocks up over many months usually have good reasons
  • bryan
    MSHL next psti?
  • Raman
    yo tim check out NTZ. ive traded this one a few times, it'll spike up to 4 on occasion, the spreads are sometimes far apart but sometimes come close together like right now. shorted at 4, happy trading peepz
  • GSC
    If you want to short something obvious go on WM.
    Hyper inflated POS at the moment.
    The market might be a discounting mechanism but PV and FV still apply.
  • vijai - moneyreallymatters.com
    Raman, NTZ very low volume deal. Don't you feel the less volume when you go to buy or sell on a limit price?!
  • d
    anything worthy to short at this time?
  • John
    d,
    Karen Biche' in the Fast Money advocated to short COF !
  • Raman
    vijai...it is a low volume stock, but ive never had a problem trading it, even when dealing with 1000, 2000 share blocks, my orders get filled at the price i set.

    its a relative low risk trade at this point, its got an upside to 4.1, maybe a 4.2. but even if it hits that i wouldnt cover. if you look at the charts, its spiked up like this before only to settle back in the upper mid 3's.

    yo john whats wrong with Karen Finerman I always felt she keeps it real by at least always mentioning good short plays. the other heads on CNBC are always so optimistic its sick.
  • lmsmith
    I shorted TUES at $4.65 this a.m, I should have posted it, but it's been slowly going down...maybe too late to hop in
  • bsl113
    Check out this POS climbing today: TGIC
  • vijai - moneyreallymatters.com
    Oh ok!! Thats not bad. Some stocks are pretty bad on the low volume. They move very slow and tough to get filled on the price you need. It looks like it has spiked up more than 10%. That would be a good one to short only but its not a real spike like other spikes in the chart. Its buyer crowd out there and it has strong trend. I am not sure it will come down quick like spike. I would be cautious.
  • GSC
    Told you...WM...
  • Max
    the only people that seem interested in buying NTZ at this point are small fish though; could easily see short term downswing even if longer term trend remains up (I agree that volume today is very much a buyer crowd)

    certainly not as good risk/reward as other spikes in chart like vijai says, but the bids are seeming to get weaker, and only a few small fish have taken those asks @ 4.06 - sellers are being very greedy

    assuming it downtrends into this afternoon, I'm guessing support @ 3.70ish
  • lmsmith
    TGIC...... gosh I need to pay attention to the boards more...thelion.com that would have been an easy 1k made
  • lmsmith
    My TUES short is working our perfectly, from my 5.65 entry...falling slowly..no spiking...just falling...
  • vijai - moneyreallymatters.com
    I know its too late but does this still have momemtum to go down more.. PWER
  • Raman
    LMS, great call on TUES, next time post it! haha. wheres tim today?
  • Raman
    CBLI, been finding some resisitance at 5. if you can daytrade, ive been shorting at 4.99 and buying back at 4.9 a few times in the past hour. seems to be losing traction, bids at 4.88 now.
  • lmsmith
    Who ever called the WM short...was so right !
  • John
    GSC (whoever it was) said to short WM around $11.25, and it is around $11 with DOW 275 points down. I agree WM is a crappy bank but it should have dropped at least $1 to call it a good call.
  • Look at PMII, I sold this crap with lose Monday..now, it is well under $6. Should of, could of..crap.
  • GSC
    I mentioned GSC yesterday actually, it was around 11.7-11.8 area.
    You can still short this knowing that it will crash through 10 an perhaps even hit 8 or lower....as it should based on a basic valuation.
    Also, just based on market conditions and history...i wouldn't go against G.Sachs on this one.
  • GSC
    I agree with John however on the fundamentals of the trade as a risk/reward ratio.
    My risk adversion is in the "irrational negative teritory".
  • $900 on week nice job, FRPT was a fun play - I still like MNKD as long as theres volume PSTI great short call
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Long story short, wait for stocks that are extremely volatile - for whatever reason - and then aim to take small profits (between 10 and 50% within a few hours, days or weeks) here and there, either from betting on higher or lower prices (yes, you can make $ betting on lower prices, it's called Shortstocking (learn more HERE).

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TIM Trades

View All
Date Stock Buy Sell Net
Nov 19 AENY $2.80 $3.02 $1148
Nov 18 NLST $4.16 $4.40 $947
Nov 18 IMGG $1.42 $1.64 $2094
Nov 17 NLST $5.04 $5.59 $2195
Nov 13 VRMLQ $21.50 $22.97 $2901
Nov 11 EONC $2.61 $2.80 $687
Nov 10 EONC $2.74 $3.36 $9784
Nov 6 QXM $4.31 $4.80 $1936
Nov 4 COT $8.66 $8.88 $642
Nov 4 QXM $4.61 $4.89 $822
Oct 30 DDRX $25.70 $26.53 $812
Oct 29 CTDC $4.00 $4.42 $781
Oct 26 AWSL $3.24 $4.10 $2516
Oct 23 RODM $5.27 $5.23 $301
Oct 22 AMLM $2.69 $2.97 $820
Oct 22 USEG $6.12 $6.09 $85
Oct 20 CBOU $8.93 $9.06 $243
Oct 16 VRMLQ $16.79 $18.65 $2773
Oct 13 YONG $11.05 $11.66 $1202
Oct 13 NPHC $0.59 $0.71 $583
Oct 12 IMGG $0.60 $0.70 $682
Oct 9 ZAGG $5.50 $6.10 $2380
Oct 7 GVBP $0.03 $0.27 $702
Oct 1 NPHC $0.70 $0.85 $1482

Total: $98,094 (681%)