Uggh. Here is the big intraday chart of MINED.
+ BOT 50,000 MINED false Stock .106 USD ARCAEDGE 08:55:10 42.37
+ BOT 10,000 MINED false Stock .106 USD ARCAEDGE 09:05:28 8.45
+ SLD 60,000 MINED false Stock .092 USD ARCAEDGE 09:31:36 27.45
+ BOT 50,000 MINED false Stock .101 USD ARCAEDGE 11:06:33 38.96
SLD 50,000 MINED false Stock 0.0990 USD SMART 11:11:09 24.75
09:33:34 MINED S 0.0996 25000 NITE
09:33:34 MINED S 0.0996 25000 NITE
11:11:37 MINED B 0.099 50000 NITE
11:17:26 MINED S 0.0984 2200 NITE
11:26:56 MINED S 0.0961 25000 NITE
11:27:13 MINED S 0.0961 5000 NITE
11:27:13 MINED S 0.0961 17800 NITE
Daily profit: ($1,378.41)
Disclosure: No positions in any stocks 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.
I don’t know how you trade those kinds of stocks but you generally are very good at it. Can you see things from the Level II or are you just trading what you see on the chart?
It mostly comes from understanding how the pumps work. Level 2 and the chart can help only a little with the specific timing of exits.
OK I guess I’m never going to be good at those kind. How did you learn how the pumps work? If you aren’t using the chart or the L2 what are you going by?
Like I said, I study the pumpers and understand how the pumps work. For example, I know 90%+ of HotOTC pumps gap and crap so I never play them long and I always try to short.
InvestorsLive from the InvestorsUnderground stock chat has helped me learn, although I have been shorting pump & dumps since 2007 so I had a better understanding than most before trying to make money going long.
Speaking of Level 2, check out my next post on why it may not be helpful with pumps: http://www.reapertrades.com/2010/05/sec-sues-alleged-stock-manipulators-behind-bluefire-ethanol-bfre-and-pump-dumps/