Watchlist for September 15th and random thoughts

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.

zoom

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.

gvbp

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:

0 thoughts on “Watchlist for September 15th and random thoughts”

    1. We’ll see if it remains there … my bet is tomorrow it gaps, runs, then goes sideways the rest of the day. Then Wednesday it falls 14.5% and Sogo won’t have anymore shares then. Well, that was a falsifiable prediction. 🙂

  1. I’ll number my comments so I don’t have to make multiple entries.

    1. Welcome to the “20th” century, you’ve been running naked without a UPS this long?!?!?

    2. Nice find on the autotune shit, that was funny as hell!!

    3. Just remember uncle sam is your partner he needs to get his cut too!! How else can he feed his RAPIDLY expanding family!??!!

  2. HYTM has a lot of activity this morning and some resistance at the dollar mark, coulfd be a pre-market leader.

    SVA looking like a pre-market leader.

  3. I missed LXRX after it established support at 3.00, sent my limit order in and it did not get filled. Watched it run to 3.50 or so in minutes.
    I have to stop with the limit orders.

    1. yeah that is probably a good place to short … knowing that I am poor at shorting things like that I am glad IB didn’t have shares so I wasn’t tempted to touch it. It is all about knowing yourself and what trades you can do.

  4. Out for + 173.21, not a bad trade for me. I was patient today with my day trades and looked for better trades instead of jumping into the first thing I saw.

  5. Got out of GVBP @ .56 only to watch it run up to .63 now….damn annoying stock. Still nice +750.00 overnight trade.

    Looking to get back in if there is an afternoon fade out — still looks like we could have one more upgap day. They have now “partnered” up with another company and are going to bring all their combined brain power to bear….

  6. 2.548 is what I got out at, after 60 dollars in commissions 605 was my total.
    I bought to many times, starting off with 900 shares the second time then adding 200 to that. First time started with 200 then added 700 to that.

  7. Curious how much margin was required to short a stock like GVRP? And did you hold that .36 short all the way to over 1.10 an hour ago? I see it’s at .48 now!

    What goes up, must come down.

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