Just two stocks on watch tonight, but they are two good stocks! Heck, who needs me for these watchlists? Preston already mentioned these an hour ago!
SNSS – Okay, news was two days ago, and yet it waited until today to really run. I’m short biased, but it could have another big day. This is my top watch (and probably is for everyone else, too).
AKNS – Is news of selling their product at Lowes really worth a 50% gain? I will take my cue from the black candle and short with abandon on red! As always, I will not look to short if it gaps down.
Disclosure: No positions in anything 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.
HWD, MDW and UPI are potential breakouts, but like the rest of my b/o picks that either go in the opposite direction or sideways I’m surely wrong.
Since I study every move you make and try to put reason as to why you make it I should get lucky every now and then.
Preston dude, you really need to get some more self confidence, lol.
You are doing great, I can see it from your covestor account.
Preston get a blog up…
blogger.com or wordpress.com
Adsense and Analytics links to blogger very simple
TradesPresto.com
PrestoTrades.com
I just redid my blog again…
John, prestotrades made me really laugh last night. I will start considering a blog but I have a long ways to go and a lot to learn. I do appreciate the encouragement from qb and yourself.
By the way qb, what is the name of your blog? I never knew you had one.
I like looking at everyones daily watchlists and reading the details to why everyone posted certain stocks on their page.
Nat gas prices are set to rise, and speculative nat gas penny stocks are ones to watch. Check out PED, it ran nicely today. I think it could be one to pop..
Wow that is a horrible chart. Considering how little it moved up yesterday and how normal the volume was I would not want to buy it.
Terry, playing stocks like that for the reasons you talk about will lose you money 99% of the time, you will get frustrated very quickly.
NCR gapped up this morning and has a huge gap to the low 12’s, maybe a play till it gets there.
PED is being pumped.
BTW, -$250 on trying SNSS long twice. Good trades. Too bad there are no shares to short anywhere because this thing is going to tank!
SNSS going red
Sogo has shares, actually.
I’m short 800 at 1.40
I thought you had an account at ToS that’s with Covestor, maybe that was Sogo.
SNSS trying to bounce, this is not going to be a easy play.
Volume is fading nicely and that last spike was very weak.
I tried shorting 1k on red, but I got out just now. This could go sideways for awhile or spike more. With no morning panic in sight I don’t really want to be short this right now.
BTW, -$120 on my accidental short of 10,000 AKNS … this is the second or third time I’ve done that with Sogo … I really don’t like their platform.
I’m short SNSS at 1.42
Well that was fun. Out 1.525
-120 SNSS
Well it’s having a hard time breaking down, I’m out for -100, I’ll try it again when the conditions are better
We just got our asses handed to us.
Hey, if you got out with a minimal loss, you still have your ass intact.
I cut my earlier loss from going long SNSS by buying the breakout; didn’t play it well, but made $125
I wouldn’t say that was a python squeeze but it was boa constrictor like. Enough for me to cover. Crap. If I had just waited for it to spike, then maybe go for a short. I think I forced this.
Well there was a small profit there from 1.40 to 1.35 or so, so I have no excuse. And yes Michael your right, two months ago I might srtill be holding this wombat jackaloon of a stock right now.
The Reaper bestiary:
wombats & ducks = good
jackaloons = bad
Really wish I’d flipped long on the red/green then green hold …
wow, CYCC trying to b/o again, I missed shorting it yesterday.
Speaking of Cali pharms, I missed SNSS, but do you think LJPC is due for a quick breakout? It’s always showing up on my screener if I remove the price filter.
yep, once you get short biased it’s hard to flip.
Damn, did you know it had some long term resistance at 2.04ish, that would’ve been a great buy point.
oddly enough I did not check the long-term chart on this prior to just now.
Well we suck, – Ducks for both of us, and now there are no shares at AMTD to short. Of course this stock is way above my head to play.
The 2 cross was where it took off, I’m sure what you will talk about in your re-cap this afternoon.
Nope. The easiest trades IMHO on SNSS today would be shorting it at 2.40 on the big spike or buying it on green/red/green.
Yep, I tried getting shares at 2.30ish, not saying I would’ve traded it but just checking on shares. Now it is clearly fading, but this thing could take off again.
I am proud of myself for cutting my losses this morning, after looking back on it that could’ve been bad.
another short oppty right about now. Oh look who showed up? Our old friend SEED. It may be due for another b/o after the first one.
so was Sogo’s “no shorting under $3” rule just smoke? I had account registration at Sogo pending when NLST nova’d but I put it on hold. It seems you are getting most of your non-IB shorts from Sogo so I may go back and complete it.
I have no clue. I had heard about the rule and I thought my order would be rejected, but it wasn’t.
I had the same question (sogo and shorting under 3)
It did not let me short SNSS @ 2.30, I have the regular sogotrade though, changing to sogoelite now.
Just promise not to get a margin call or anything … I want to continue to be able to short <$3 stocks at SogoElite! Of course, this from a guy who had half his account wiped out in an NLST gap up ... (I was hedged in my IB account at the time but I had to wire money over to Sogo to meet the margin call).
Most of us are too cheap to want to pay $2k per year in platform and data fees … and yes that is what Genesis costs, per their quote to me a year ago.
My 2 big complains from Sogotrade: no after hours trade (this one first – solved once you move to elite) and no Level 2 access (get it from some other place) …
I have some other complains like: their web interface, no direct access, no complex orders matching pre-entered criterias, no default sizes, etc… I can live with all that.
I love their commissions and shares availability.
I am only a part time trader and $200/mo for the soft goes beyond what I expect to pay. I probably would pay for it if I were a full time trader like Reaper and be profitable enough, of course.
Reaper (or others if you care to comment):
When a stock like SNSS has such incredibly high volume, does that super high volume by itself create more difficulties or challenges in the trade? It just seems with so much liquidity there on this day, it could be so slippery either way. Thanks in advance.
IMHO really high volume ones have more fakeouts and are harder to trade, because there are so many traders involved.
Reaper what L2 do you think is more reliable, TOS or http://www.level2stockquotes.com/level-ii-quotes.html
that
No clue, never really used either.
Yes, agreed with reaper.
Bearnine: I dunno about Level 2 from TOS but the one on the url you linked to shows only ARCA, not good. They used to show also NASDAQ and BATS, still not good.
You need something like TotalView from NASDAQ (http://bit.ly/8PGJuO), I believe alphatrade.com has a 14-day Free Trial at http://bit.ly/7Uyi6l
Arggh, can’t believe I got out of SNSS on that last bounce to 1.80. Oyvey.
I came REAL close to shorting SNSS, especially when you said this.
“Previous support, when broken, becomes resistance. I am using that to my advantage right now.”
Glad I didnt now, I would have ended up holding over the weekend, and even thought it will probably tank, I have better shit to do then worry about a BS pharma company popping out of the gate on monday.
Again, not an ideal trade due to time of day, and I wouldn’t have held short over the weekend, but good risk/reward imho.