Trade recap / watchlist: All eyes on NLST

I had a profit on NLST that erased my previous losses on it. The end appears near for it, although the stock has not yet collapsed. So ALFFS. See my video from last night if you want my thoughts on trading it and watch my video below.

nlst_multi

NLST 4-day
nlst4

NLST 1-day
nlst1

Daily profit: $902.00

Disclosure: No positions in any stocks mentioned in this post. I have a disclosure policy and you can find all my disclaimers there as well; those disclosure & disclaimers are incorporated by reference into this post.

0 thoughts on “Trade recap / watchlist: All eyes on NLST”

  1. DAR could be a breakout stock for tomorrow, it held up today and is at resistance.
    NANO and TSTC both have nice charts but could make nice shorts when they break down, if they do.

  2. Reaper,

    Whats NSLT average price in your sogo account, if I may ask?
    Also, since I’m new in trading this kind of super novas how can I estimate how much this junk would fall at the first fade?
    Thanks

    1. Do the math yourself. I had 10k shares short, covered 6k around 6.75, 1k at 6.25, and 3k around 6.60

      When this thing drops I expect no less than 20%. But I always trade based on price action, not expectations.

  3. I have 2k shares reserved @ TOS for NLST – thinking this may be the day for this to breakdown.

    Also in a swingtrade for LVS – this could pick up a couple of points over this week with their hong kong IPO set for the 20th.

    been day trading LVS for some pretty nice profits all last week — execpt got caught in a short position over the weekend – very dumb move – gave up the entire weeks profits….kicked myself but good.

    http://ehotelier.com/hospitality-news/item.php?id=P17520

    good luck to everybody today.

  4. You really have a big influence on me, I held back and did not make that trade. 3 months ago I would have and I’d be sweating bullets right now.

    1. Glad to hear it. NLST a perfect example of why it is risky to short stocks that gap down a bunch. I actually shorted and covered 1500 shares for -$15 looking for a morning panic. Now I am hoping it doesn’t collapse before some nice sideways price action in the afternoon. Then I’ll short when it breaks below that sideways price action.

  5. Well, for what it’s worth that spike didn’t impress me and the volume is fading now, I think you will get your wish soon.
    I hope you kill it.

  6. Interesting, I think thats the first time I’ve been able to get shares mid day from TOS, especially this early.

    Anyway I now have some NLST but will be gone till this afternoon, hopefully she’ll hold up till then.

    1. volume too low to interest me.

      Stocks are like prostitutes … use ’em and lose ’em. Just because a stock was interesting to trade a month ago doesn’t mean I’m still interested in it.

  7. Yeah I was a bit too aggressive shorting NLST, going for the morning panic….got in at 5.43. I held through that spike to 6 (really I should’ve waited for a spike since it had gapped down), now it’s at 5.50ish. I’ll keep holding my short as long as it remains under 6

  8. Yeah it is a wide stop but as you said, the bounces are weak. Normally I would take losses quicker but I have a max loss set on my Cy Group account. I took a larger position than normal on this, so if I had my usual stop, I would be over my max loss and not be able to re-enter today. This is way too good of a Supernova to not be able to re-enter, so I’ll only get out if I’m REALLY wrong here.

    1. I don’t like its ability to spike quickly … I don’t really know if that means anything in terms of the direction of the stock, but it is not fun to see it jump 10 cents at a time sometimes.

  9. Got in at 5.50 ish shorting NLST…. what i dont like is the support at 5 from yesterdays low’s. It just bounced back up but its not spiking 🙂 which is safe enough for me

    I’m really hoping buyers step off, and it drops to like 4.80 which i think is quite fair.

  10. I am considering opening a short position here to hold overnight in NLST. I think this tanks between today and tomorrow, even if it does spike I think it will never touch 6.00 again. IMHO

  11. Well I just covered at 5.44 to break even. I didn’t like how it was basing at 5.22. This stock certainly is stubborn. I’ll look for another entry tomorrow.

  12. I covered the rest of my position at breakeven at 5.50; Thankfully I’d covered some earlier so I did make $980.

    Hopefully there will be another good shorting opportunity this afternoon.

  13. The multi day chart is beautiful for a tank tomorrow if it holds red today. This thing still has a ton of downside, no sense in getting impatient.
    Congrats to you guys for banking on it.

  14. I want NLST to break $5 before I re-enter. If you look back to yesterday there is some support there. Once it breaks 5 it should tank quickly on stop losses.

  15. It just broke below 5, I have 400 shares at 5.24 to hold overnight. I couldn’t resist it, this thing is too pretty and I can’t let you have all the fun. 🙂

  16. 500 shares overnight at 4.33… hoping for an open below that so i can take some more profit. couldnt close the position today because of the SEC trading rule.

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