Only a couple stocks on watch tonight. I’ve been working on my taxes … one problem with being a full-time trader is that I have to deal with estimated taxes. And considering how much I banked last year I don’t just want to use the 110% prior year tax safe harbor provision … which means I have to calculate my income every single quarter to figure out what to send to Uncle Samwise (if you have no clue what I just said, please buy JK Lasser’s Your Income Tax 2009). My tax burden so far this year has paid for either two home-buyer subsidies, the pointless destruction of six working cars, or the bonus that Goldman would give to one janitor.
Another note: I’m about to purchase a very large uninterruptible power supply for my computer. Last Friday I had a two-second power outage that reset my computer and while I wasn’t in any trades, I do not want to deal with that again. In the event of a longer power outage a UPS would give me time to boot up my laptop before power to my main computer runs out.
ZOOM – Huge run today. This was not just because of the news of earnings at their subsidiary; if it were because of the news the stock would’ve gapped all the way up. Instead it ran most of the way late in the day. That means it was momentum buying that drove it up. This is a low-float stock and these are often runners. I would short but I am sure there will be no shares. It might get some follow-through buying tomorrow morning.
GVBP – Pure pump and dump (see Tim Sykes’ writeup). I’m short from $0.39556 following a Timothy Sykes TimAlert. This likely will go up more tomorrow and Wednesday and then fall. I had to short today because there will likely be no more shares available to short tomorrow.
Disclosure: Short 18,500 shares of GVBP. I have a disclosure policy.
Oh, and if you want some light entertainment, check out this amusing use of the devil-spawn AutoTune: