Trade recap for August 3rd & watchlist for August 4th

Today’s trade recap is in video format! Please take a look at it on Screencast.com to see it in high-definition.

Trades:

+ BOT 200 TSPT false Stock (NMS) 9.080 USD ISLAND 09:34:01 1.00
+ SLD 200 TSPT false Stock (NMS) 9.072 USD SMART 09:43:38 1.00

+ SLD 6,000 VHC false Stock 2.960 USD BATS 13:50:58 30.00
+ BOT 500 VHC false Stock 2.770 USD SMART 14:02:59 BookTrader 2.50
BOT 500 VHC false Stock 2.75 USD ISLAND 14:03:21 BookTrader 2.50
+ BOT 5,000 VHC false Stock 2.960 USD SMART 14:21:11 25.00

+$134.40 on the day.

Watchlist

This is a bit abbreviated tonight.

NLS – big move from $1.12 to $2.90 in eight days with no red candles. No news, short watch.

GGC – still on watch until it stops moving. I am long-biased. When this tanks it may tank quickly, but any strong move above today’s high of about $27 might make a good buy.

VHC – a bit choppy but still finished red without me in it. We should see more downside; I probably won’t play it but there is good risk / reward on the short when it goes red tomorrow. A tight (mental) stop would be a good idea.

FRNTQ.pk – up big on news it will get bought out of bankruptcy, likely by LUV. The equity is still probably worthless. Shares to short will be impossible to find though.

Disclosure: No positions. I am a customer of Tim Sykes and InvestorsUnderground and an affiliate of both of them. I have a disclosure policy that gives details on those relationships.

0 thoughts on “Trade recap for August 3rd & watchlist for August 4th”

  1. Ok, I voted text but video is much better. Talking is a better way (at least for me) to understand your conviction in trying to teach, or share.
    It’s also nice to understand about the round numbers, sounds simple but logical.

    I followed through with my trades.
    MCD 40 (50 was wrong) @ 55.24
    AEM short 50 @ 60.25, I got my price and it fell shortly after, though I know that was profit taking and it could shoot up tomorrow. The MCD trade will stagnate quickly if news doesn’t move it, I will sell on a small gain up.
    I bought 200 GCI @ 7.91 to hold overnight.

    Thanks Michael for getting me interested in your style of trading. Evreything you say makes sense and you stay direct and on the point.

    Cramer pumping Ford right now, I looked at it today, with Cash for Clunkers it could move up quickly.

    Preston

  2. wow, excellent screen cast. what size is the lcd and what is the resolution on that monitors? it’s huge!

    Also, how come you are paying so much for commission for one trade? 60 bucks???? If you are doing volume trades why don’t you go with a broker that charges flat rates?

  3. shawn – 1920 x 1200 — Sorry it is so big! The screen I think is 24″. I have two of those and two 19″ LCDs. I’m working on embedding video.

    As to the commission, it can get large if I trade lots of shares, but the most sophisticated brokers all have per share commissions. If I want good borrows, great features, and quick fills, I am willing to pay for that. With Interactive Brokers I pay 1/2 cent per share which is more than reasonable.

  4. Chris – I use Interactive Brokers’ Traders Workstation that I use to trade with. With that, you create a new ‘scanner’ page and then set it to show you highest % gainers.

  5. Ok, the laughing can commence

    I was up on AEM a little over 50 and let it go the other way, sold for a (37) loss.
    GCI, I bought to high, should have waited for a round number to buy, (46) loss.
    MCD, just as I figured it’s flat but I’m still holding.

    The only thing good is my SIRI, bought 5000 shares at .17 and it’s doing real good, looks like some shorts got squeezed. I have a 1700.00 profit on it right now. Thats the best trade I’ve ever had, + 200%.

    I also like AZO for a longer term short, it was much better above 160 but this CFC program is going to hurt them and they were overpriced IMHO to begin with.

    Hope your day is better than mine.

  6. Preston – other traders and myself have found that in general the round number thing doesn’t work nearly as well in higher-priced stocks as in cheap (<$5 or $10) stocks. That is because smarter people / institutions that trade higher-priced stocks are more sophisticated. Fundamental short-selling is a very, very tough game. As to me, I somehow managed to lose money on GGC, a stock up 70% today! I bought on the $27 cross right after the open and got stopped out in the mid-$26s then tried it again and got stopped out again. Then it went on to $32 without me in it. -$205 Playing with GGC and trying to find shares of USCN distracted me from a nice morning panic in NLS so I missed that.

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