Trade recap for March 4th

Better day today.

Trades at IB:
+    BOT    2,814    IFLG    false    Stock    6.398    USD    ARCA    09:34:46        14.07
BOT    400    IFLG    false    Stock    6.4500    USD    DRCTEDGE    09:35:15        2.00
SLD    400    IFLG    false    Stock    6.4700    USD    ISLAND    09:38:45        2.00
+    BOT    500    IFLG    false    Stock    6.780    USD    SMART    09:56:47        2.50
+    SLD    500    IFLG    false    Stock    6.928    USD    ISLAND    09:59:26        2.50
+    BOT    1,000    BELM    false    Stock    5.000    USD    SMART    12:12:48        5.00
SLD    500    BELM    false    Stock    5.10    USD    ISLAND    13:33:02        2.50
BOT    100    VRML    false    Stock    32.30    USD    SMART    15:35:59        1.00
SLD    100    VRML    false    Stock    32.80    USD    SMART    15:39:52        1.00
+    SLD    500    BELM    false    Stock    5.150    USD    ISLAND    15:51:42        2.50
+    BOT    5,000    VSTNQ    false    Stock    .971    USD    SMART    15:59:29        24.28

Daily profit: $564.14

Disclosure: Long 5,000 VSTNQ and 2,000 MCGI, both of which I intend to sell near the open tomorrow. No positions in any other stock mentioned. This blog has a terms of use that is incorporated by reference into this post; you can find all my disclaimers and disclosures there as well.

0 thoughts on “Trade recap for March 4th”

  1. Regarding VSTNQ, can these pop out of bankruptcy at any time? Or is there a particular go/no-go date?

    Definitely not a good idea to hold this stock as a bag, but should I be worried that one day I will wake up and loose all the stock I had running o/n?

    Thanks,

    (BTW, I keep reading March 16th is the go/no-go decision for this stock coming out of bankruptcy.)

    1. They can theoretically pop out of bankruptcy in a good way at any time, but generally speaking the shares will not be cancelled (become worthless) except according to schedule. Stocks can remain in bankruptcy for a long time (for example, LEHMQ has been there almost a year and a half). In the meantime, they make for interesting trading due to short squeezes and momentum traders.

  2. Awesome calls in chat today, Reaper. I profited on BELM (500 sh from 4.99 to 5.15) and picked up some MCGI at 2.07 for overnight. Just got the email from BestDamnPennyStocks, and MCGI is their pick. Should open nicely tomorrow.

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