AIG & DRJ on watch

DRJ – short on green/red … crappy promoted scum company that’s been around for awhile and now is on Amex so possibly shortable.

AIG – short on green/red … the move from $34 to $56 was penny-stock like. It has already had some fading Friday afternoon.

Disclosure: No positions. I have a disclosure policy.

0 thoughts on “AIG & DRJ on watch”

  1. you are a brave man to get involved with AIG… I watched the action on that one for a bit on Thurs. and Fri…..Keep your stops loose, it was popping around .20 to .50 every few seconds at times….Reminded me of a 1999 IPO the way it was moving.

    Best of luck!

  2. What about LEHMQ and its 200% gain? do you think its a potential buy? All the other financials have been getting hyped up for the last week, maybe this is the next play by pumpers. There’s good news and its valued at $100 million market cap. Even the regular, average, pump and dumper could dramatically effect this stock and turn it into a supernova. And with AIG, FRE, and FNM stocks making a come back it could mentally effect many average investors.

  3. Cy Group hasn’t had shares of AIG to borrow for days now, and I’ve got no day trades in my IB account so unfortunately I won’t be able to play AIG

  4. HLCS nice breakout chart Preston. Definitely long watch. Not exactly sure what you’re expecting on VION after it had its huge drop Friday.

  5. Thanks for telling me that about HLCS, I really took more time reading the charts and more than just 5 day 5 min charts. I really started looking at past volume and watched how they started to build volume rather than just throw out stocks for you to look at, and ultimatly tell me to do more research before mentioning something. 🙂
    I also went through all of your past videos again to make sure I do not continue to put stocks up that waste your time, I apologize about that.
    VION I was thinking if it opened up it could continue for a nice quick long, and if open with no strength a on low volume would just continue down, it still has some room to fall I think.

  6. Gotta love the 2 cross on BONU and HLCS. I would have gotten into both, but I’ve got a meeting soon and dont want to risk the day trade without being able to watch it.

    1. I think this is a case where the even number cross didn’t matter much. HLCS has a nice breakout chart (it really broke out yesterday), so beating yesterday’s high (at 1.76) was more important. BONU a huge-run chart with tons of momentum. For both of these, look at the intra-day charts. They were already running big and quick when they hit 2 and they didn’t even briefly stop there. AIG on Friday though took a bit to break 2 on the downside.

  7. LOL, come on now. I got 700 shares at 2.26 and got out at 2.33. Shitty trading on my part, not bad on exit but horrible on entry.
    Don’t lose sight of DRJ, headed for green red on the day.

  8. I shorted DRJ at 1.60, covered half at 1.47, still holding the rest

    Nice job on HLCS guys. I never even saw that one, and I haven’t been in chat because I find I tend to overtrade when I’m in chat

  9. Moved my limit to 1.42 and covered some more….holding my last bit….man this is worse than watching paint dry…..more like watching a river make a canyon

  10. I don’t know about you, Yngvai, but most of the times I’ve covered out of boredom I have regretted it. I’ll hold onto DRJ short as long as I can bear it.

  11. Well I was planning on covering some at 1.41-1.42 anyway since the stock has support at 1.40….I always partially cover near support areas in case the stock doesn’t break support….especially with illiquid ones like this where I’d rather have a standing order that gets filled instead of trying to hit the offer if it doesn’t happen to break support. Plus I get a rebate.

    I’m still holding some more in case it falls further today.

  12. For those of you who have been trading a while – when tax time comes, do you mark all of your losses as capital losses? It’s gotta be fun to figure out how much you can mark as capital loss if you are in and out of the same stock a lot.

    1. It doesn’t look like that to me. I’m not a fan of any chart patterns more complicated than breakout / breakdown past old highs/lows or resistance/support. The odds are not nearly as good.

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