Daily trade recap for September 10th and watchlist for September 11th

Video trade recap and watchlist. See my recap of my great trade on XSNX which was the only interesting trade I had today.

Daily profit: $1,602.90



Watchlist

QELP – up 103% on no news but huge volume. Could be good either way. Long on strength, short on green/red action.

RVEP – same deal, up 100% (but on tiny volume of 150k shares). Both of these are master-limited partnerships that deal with energy (likely pipelines). What that means is that if you trade them you will have to file a form 1065 (annoying).

QRCP – long on red/green or breaks to new highs tomorrow. $0.90 is an important point but it will be overextended if it hits that so I wouldn’t look to buy then.

INHX – up 100% on huge volume and no news in three days. Short on green/red and fading price action. This is my prime candidate for a trade tomorrow.

Disclosure: No positions. I have a disclosure policy.

0 thoughts on “Daily trade recap for September 10th and watchlist for September 11th”

  1. QELP, I think thats what you said. I had that one typed in a comment earlier today for watch and realized it was related to energy and deleted my words.
    DPTR is a stock that I am trying to learn to dissect the news on, it’s an Energy play as well.
    They have been given the right to drill 4 wells, that was the news yesterday and the stock shot up. Today it comes out that in order to exercise that right they have to complete the “Gray” well they are on now, if it comes up short this will be a great short. It’s also on news that the call options are up big but that’s because speculators can get in cheaper with calls, it doesn’t mean the stock is going up.
    Like I say this is a good example for me trying to get better at understanding why stocks jump.

  2. hehe, trying to be so thorough with my news reading and didn’t even realize you had the stocks typed under the video.

    I really like QRCP by the way.

  3. Mark, CNWI could be good when it declines some, until then it could still go up.

    Fading price action is when the price starts to decline with fading volume, usually with all red candle sticks but not always.

  4. well that was a quick -$175 … and I quote “I am breaking my own rules here.” If I’d waited until the open I would have seen it open rather weak and I wouldn’t have bought.

  5. Well this is not related to the market today but I did recieve my PennyStocking Part Deux and it’s very good. I feel like I waited till the right time to get it because it hasn’t overwhelmed me with information yet and it just continues to answer questions I’ve had but didn’t quiet no how to ask.
    Thanks again Michael.

  6. TIV does have a good chart but seems over extended, but what do I know. Thought that the other day on OPXA.
    AIME is one to watch Monday.

  7. The Oil and Gas sector is starting to take on new life, stocks everywhere are breaking out for no apparent reason.
    I see why you don’t try to trade these on a regular basis, they really are unpredictable.

  8. Type your comment here

    Preston :

    Mark, CNWI could be good when it declines some, until then it could still go up.
    Fading price action is when the price starts to decline with fading volume, usually with all red candle sticks but not always.

    : ) I know how this stuff works. I started reading Sykes’ blog in November of 2007. ; )

  9. Mark, that was just my take on the stock, it’s the only way I can learn. 🙂

    The second part of that I was trying to help Robert, maybe a bad job but trying.

    I can assure anyone that I am here to learn, I try to type what I think but I know sometimes it doesn’t come out right, I still have to work on that.

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