August 3rd watchlist & poll

First, a poll:

Watchlist

USCN (OTC BB) – Potential short, absolute crap financials and it has been pumped endlessly. This should be a great short on green/red action although there likely won’t be any shares available to short when the time comes.

VHC – they did not win a patent ruling, only got a preliminary ruling that increases the odds of them winning. The fade after the brief spike following the news last Friday indicates that this will likely fall more, and it closed the day up about 100% so there is plenty of room for a 20% fade. I would look to short on green/red action. It may also be a decent buy if it shows strength but considering I got burned buying it Friday I will not play it that way. Friday it was shortable at IB.

INO – after PIPE financing news Thursday it fell 50% (from the insane price of $3.40 it closed at Wednesday from $0.80 on Tuesday). That move was overdone and it bounced Friday. I am not looking to play this as its next moves will be less predictable.

Reader Watchlists

I am perfectly happy to give my thoughts on stocks my readers mention. Keep in mind that I give only my  opinion and what I write is never personalized investment advice and should not be taken as advice to buy or sell particular securities. Preston mentioned a few in a comment on my last post. He said:

I know your not a fan of these but here is my watchlist.
I like AEM after Cramer pumped them and they had decent news, short above 58 and cover under 55.
MCD, long under 55 and sell over 58.
I also like ACH for a long term play on CHina but would like to see a pullback first, I bought this first around 12 and sold at 16 and of course it flew after that.

AEM & MCD just do not interest me. Their charts are too choppy and I have no insight into their fundamentals or why people would want to buy or sell them. ACH has a great chart and might be a buy over $30, but its average daily range (ADR) is very low. I am not a swing-trader so it doesn’t interest me.

One point I will make over and over again is that stock trading is like baseball with no called strikes. If you choose to not make a trade you cannot lose. So the best traders only trade when they have a clear edge. Stock trading is one of the few ‘jobs’ when you can show up drunk for a week and do nothing and you won’t get fired or suffer any harm (as long as you avoid trading). If you ask me my opinion on 99% of stocks I will say that I have no opinion. I can make plenty of money only if I have an edge in trading a few stocks on any given day.

Disclosure: No positions. I have a disclosure policy.

0 thoughts on “August 3rd watchlist & poll”

  1. I’ve been told everyone will vote for video. As many of you know my wrists aren’t the best so video would probably be easier to me. I will try out Jing Free to see how it works.

  2. Ah thanks Mark. Jing by the way is a screen capture program. I figure people would want to see stock charts more than my face. I’ll take a look at Vimeo for distribution.

  3. I voted for text, but if you have wrist issues, whatever is easier for you! On another note, have you experimented with momentum trading before? Any success/failure with it in the past?

  4. Chris – all my buying is momentum-based, using intra-day momentum. The types of plays I call pre-leaders involve stocks up a bunch in pre-market trading where I look to go long if they show particular strength or cross a round number (I will detail this more in future posts).

  5. Thanks for the attempt on my stocks, I do realize I’m on the wrong path and patience is all I ask, and thanks for the reply to my previous mail.
    I’m getting a pump in my e-mail for HRRN, 3 different pumps today alone with the last one at 10:28pm, saying don’t miss out these gains this week. It seems it will start rising this week if the suckers get behind it, I wonder if you can catch it on the way up first and then down.

    BEHL is another one that I got, I haven’t looked at it much.

    I hope you had a great weekend.

    Preston

  6. One more thing, I voted text but it really doesn’t matter either way, whatever is easier for you. Time is money.

    I would ask you to look at JAV during the day if you have time, a spike above 2.00 again may trigger a short, the spreads before close Friday were crazy, sometimes .15 apart. I don’t know if that means anything but it looked like something was going on.

    I have no position in any stock I have mentioned.

    Preston

  7. Type your comment here

    mridude :

    I thought i saw you were up 30 some thousand and now its 77 thousand. Was the 30 from this year alone?

    Yeah, I’m up $29,528.73 in 2009 and was up $48,224.60 in 2008 (starting in June). Keep in mind this is only for trades I classify as Tim Sykes type trades. Within a week I will post a page that details and tracks my profits from all my different trading strategies.

  8. BTW, sorry about slow approval of comments; I had some unexpected things to do this morning. Once I approve one of your comments your future comments do not need to be approved.

    WEMU decent short idea but too low volume especially considering it is only up from $4.60 to $6.60

    JAV I don’t have much visibility IMHO. In retrospect a short Friday on red would’ve worked great or Thursday when it went red. So yeah, your call was nice and I don’t know why I didn’t think so at the time

  9. I’ll arggh with you on GGC, that was a nice jump.

    Ameritrade don’t have shares for JAV so that idea is dead, I still see a .15 drop coming, maybe more. The settle price should be around 1.45 or so.

    HRRN is jumping like I thought, pennystockchaser is pumping it this week, will wait till Wed and see how it does.

    For disclosure; I am new to this so my ideas here are only for review by reaper for learning purposes.

    Like I thought as well AEM up and MCD down, I will open positions in them, very small to learn.

    I’m starting to understand that I’m trading more on market momentum and not focusing on particular stocks, this is something I have to change.

    [This comment was marked by the blog’s spam filter and posted late. Reapertrades apologizes for any inconvenience.]

  10. I guess I messed up my last comment.
    Arrgh on the GGC, that was a good call.

    HRRN is up on hype, I recieved 3 e-mails about it from penny stock chaser.

    Ameritrade has no shares on JAV to short, I think the final price for it will get to 1.40 or so.

  11. HRRN yeah. No way I would short something so cheap. Even 10x higher it would be scary. I don’t play these pumps long unless the promoter is on a hot streak, and then only very small.

    GGC a great example of why it pays to read others’ watchlists too. My mentor Tim Sykes had this to say about GGC last night:

    “I will buy this if it can consolidate in the high teens and eventually breakout past key psychological level $20…if it does break that level will strong volume and ideally a catalyst (analyst upgrade?)…could be a very nice short squeeze to $22+ if and when that does happen.”

    Perfect call on his part. Too bad I was rushed pre-market.

  12. Well I went with MCD and AEM.
    Long MCD 50 @ 55.24
    Short AEM 50 @ 60.25, I have a limit order in and it has not filled yet and it if don’t I will not chase.

    This is purely for learning experience, these stocks I have watched for some time and I’m playing the market momentum as well, MCD does well when we have a down day and vise versa for AEM. The set up seems good but we will see.

    Following Reaper trades I will navigate away from my watchlist and start thinking more like what you have laid out here, thanks for helping me out and I look forward to anything you or others have to say.

  13. Michael, should I continue to follow and document the stocks from that source. It does seem that they have been on a good streak lately, or am I wasting my time.
    HRRN went to .06 today and some of their other stocks have done well for get in get out stocks.
    I guess I need to subscribe to Tim and be done but I’m not sure if I’m ready yet.

  14. I voted for Text, Video is too slow. I can read much faster than I can watch a video. Plus it’s easier to refer back to later if need be.

    but I think you should do whatever is easier for you. You are more likely to keep it up if you find it less taxing.

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