Watchlist for July 29

Not too much here. In this market it has been a lot easier to buy than to short, and I am a specialist in short selling.

ohb

OHB is a prime short as a Supernova with no news. I know this company from a fundamental perspective and they will be bankrupt within a year. Volume is very low and shares are not easy to borrow. IB had none today, SogoTrade had some.

china

I am short 3,000 shares of CHINA overnight, following a certain trader who shall remain nameless (although I would have thought of shorting anyway as it was a great afternoon fade and there is still plenty of room for this to fall tomorrow). This is a classic play to short, up only on hype-filled press releases since $1.50. Unfortunately the price action has been choppy. I will look to cover right after the open tomorrow and I will hope for a morning panic.

Disclosure: Short CHINA and I will likely cover the position early on 7/29/09. I have a disclosure policy.

0 thoughts on “Watchlist for July 29”

  1. BTB – for lower-priced ones like USCN I don’t like playing them unless the chart is perfect — ie, two or three big up days in a row, then short on green/red. I don’t like when there are multiple small-move days after the big up days.

  2. Great site Michael, and I hope your move went well.

    I’m following JAV, I bought at .86 and sold at 1.47 several months ago then watched it go up and down for several months. Now it has broke out for no reason that I can see, of course I am very knew to trading.

    http://finance.yahoo.com/q?s=jav
    http://stockcharts.com/h-sc/ui?s=jav

    Thanks for taking the time to compile your website, my hope is over time I can engage in meaningful trading ideas. Anything you can suggest will be appreciated.

    Preston

    1. I have no clue on Javelin. I find that the most profitable traders aren’t necessarily the smartest or best, but rather those who know their limits. I know I’m not good at buying, especially not for a time period greater than a couple hours.

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