Author: Michael Goode

August 17th trade recap: Blah

Another video trade recap. In addition to trades in the video I shorted QGLY in my SogoElite account; it was a poor imitation of a fat-fingered short. I netted about $5 on that. I will not do a real watchlist tonight; I do not see anything that calls out to me to short it and I need a break from trying to go long.

+    SLD    10,000    DNE    false    Stock    .120    USD    NSX    09:31:06        6.04
BOT    100    GY    false    Stock    4.3999    USD    SMART    12:42:26        1.00
SLD    100    GY    false    Stock    4.4002    USD    SMART    12:42:36        1.00
+    BOT    200    ALGN    false    Stock (NMS)    12.260    USD    SMART    12:51:19        1.00
+    SLD    200    ALGN    false    Stock (NMS)    12.460    USD    ARCA    12:55:41        1.00
+    BOT    400    GY    false    Stock    4.440    USD    ARCA    13:20:39        2.00
+    BOT    400    NANO    false    Stock (NMS)    4.200    USD    ARCA    13:34:03        2.00
+    SLD    400    GY    false    Stock    4.390    USD    ARCA    13:52:20        2.00
+    SLD    400    NANO    false    Stock (NMS)    4.120    USD    SMART    14:20:38        2.00

Stocks from last night’s watchlist that I would have shorted were not worth playing today because everything gapped down big.

Today’s profit: ($234.59)

Disclosure: No positions. I have a working buy order out for ZRBA. I have a disclosure policy.

Watchlist for August 17th: Gencorp Inc (NYSE: GY) on watch

Newcastle Investment Corp. (NCT) had another nice white candle. I think this move is getting over-extended. It should make for a nice short on green/red action, although it might have another up day.

nct

GreenHunter Energy, Inc. (GRH), China GrenTech Corp. Ltd. (GRRF), and GENCORP INC (NYSE: GY) all had big gains on Friday and are on watch for continuation. GY had the strongest close so I may look to buy it if it shows strength tomorrow. However, considering it has some resistance in the $4.50 to $5.00 area (from last October-November) it may also fall and it could make for a nice short when it goes negative for the day.

gy

Disclosure: No positions. I have a disclosure policy.

An interesting swing trade idea: Buy 249 shares of Zareba Systems Inc. (ZRBA)

This idea from Stockbee. I find his thoughts on swing trading to be very good, even though I don’t trade that way myself.

Buy 249 shares of ZRBA ,they are doing a 250-1 reverse split and cashing out shareholders with less then 250 at $5.20.

Don’t know how long it will take to complete the split but it could be months or maybe just weeks.

ZRBA currently at 3.95

5.20/3.95= 31% return
I really recommend you read Stock Bee consistently (this post on how stock chart patterns change depending on timeframe is a must read). This type of trade really is not so much a swing trade as a type of risk arbitrage. I have done these sorts of trades before and they are a very nice way to get a nice percentage profit on a small amount of capital. Keep in mind though that it could be some months before the reverse split occurs.

Disclosure: No positions. If the price is right I intend to go long 249 shares of ZRBA soon. I have a disclosure policy.

August 14th trade recap: Nailed Newcastle Investment Corp (NCT)

Yesterday I wrote about Newcastle Investment Corp (NYSE: NCT), saying “Nice move today and after hours it broke multi-month resistance at $1.25. A buy if it breaks $1.25 during regular trading although if it gaps up it will be much riskier.” It opened at $1.23 and quickly broke above $1.25. I hit the ask at $1.30 to buy 1200 shares and soon enough it spiked above $1.50. I sold as it fell off that spike for a not very good exit of $1.43. Overall, a nice 9% profit ($144.00) on an easy trade. A better trader could have profited over 20 cents. I alerted NCT as I traded it on Twitter.

+    BOT    1,200    NCT    false    Stock    1.300    USD    SMART    09:32:13        6.00
+    SLD    1,200    NCT    false    Stock    1.430    USD    NYSE    09:37:10        6.00

My only two other trades today were CHINA and ZAGG, both of which were scalps off of TimAlerts. +$65 on the pair.

+    BOT    2,400    CHINA    false    Stock (NMS)    2.648    USD    BATS    09:56:45        12.00
+    SLD    2,400    CHINA    false    Stock (NMS)    2.660    USD    ISLAND    10:00:18        12.00
BOT    1,000    ZAGG    false    Stock (OTCBB)    6.1900    USD    SMART    10:31:47        5.00
BOT    2,000    ZAGG    false    Stock (OTCBB)    6.1900    USD    SMART    10:31:49        10.00
SLD    1,500    ZAGG    false    Stock (OTCBB)    6.2000    USD    SMART    10:36:01        7.50
SLD    1,500    ZAGG    false    Stock (OTCBB)    6.2400    USD    SMART    10:36:26        7.50

After I first published this post I made the following attempt at a fat-fingered short on MTXX, forgetting that MTXX has faked me out before. It is a little too high in volume to be good for this:

+    SLD    1,000    MTXX    false    Stock (NMS)    5.510    USD    SMART    15:30:46        5.00
+    SLD    500    MTXX    false    Stock (NMS)    5.600    USD    ARCA    15:32:49    BookTrader    2.50
+    SLD    500    MTXX    false    Stock (NMS)    5.600    USD    SMART    15:33:02    BookTrader    2.50
+    SLD    500    MTXX    false    Stock (NMS)    5.620    USD    SMART    15:35:34    BookTrader    2.50
+    BOT    2,500    MTXX    false    Stock (NMS)    5.604    USD    ISLAND    15:47:21        12.50

($115.66)

Today’s Profit: $93.34

Weekly Profit: $573.93

I am holding DNE over the weekend, although that is looking less and less attractive to me.

Disclosure: Long 10,000 shares of DNE. I have a disclosure policy.

Watchlist for Friday August 14th

Short and sweet tonight. I’m not a fan of being short over the weekend so I’m not aggressively looking to short anything.

TRX, Inc. (TRXI):  Nice big two day move on no news and fade after morning spike today. Would be a short on green/red action but it is lower volume and lower-priced so I will likely not trade it.

Newcastle Investment Corp. (NCT):  Nice move today and after hours it broke multi-month resistance at $1.25. A buy if it breaks $1.25 during regular trading although if it gaps up it will be much riskier.

Craft Brewers Alliance, Inc. (HOOK):  Beautiful move today. I almost bought it but instead bought TPI as it was a late hit to the pre-leader list; I was scared off because of lower volume.

GRRF:  Arggh. (No reason, just wanted to say that; too low of volume to interest me.)

Tucows Inc. (TCX):  Way lower volume so it doesn’t interest me too much, but that is a nice breakout on big volume relative to what it normally trades with.

Disclosure: No positions. I have a disclosure policy.

Trade recap for August 13th

Video trade recap today. I will offer little written explanation.

TPI and PUK were two pre-leader longs

BOT 400 TPI false Stock 4.07 USD ARCA 09:31:15 2.00
SLD 200 TPI false Stock 3.95 USD ISLAND 09:43:17 1.00
+ SLD 200 TPI false Stock 3.910 USD ARCA 09:44:18 1.00
+ BOT 200 PUK false Stock 18.005 USD SMART 09:34:14 1.00
+ SLD 200 PUK false Stock 17.680 USD SMART 09:37:23 1.00

DNE I am long overnight. This is not a normal trade for me.

+ BOT 10,000 DNE false Stock .140 USD ISLAND 10:03:57 9.60

Emmis Communications Corp. (EMMS) was from last night’s watchlist.

+ SLD 7,650 EMMS false Stock .869 USD ARCA 10:06:12 37.88
+ SLD 2,350 EMMS false Stock .890 USD ISLAND 10:09:31 10.46
+ SLD 300 EMMS false Stock .930 USD ISLAND 10:09:54 1.40
+ SLD 500 EMMS false Stock .900 USD SMART 10:10:49 2.50
+ SLD 700 EMMS false Stock .900 USD DRCTEDGE 10:11:00 3.50
SLD 800 EMMS false Stock 0.90 USD DRCTEDGE 10:12:15 4.00
+ BOT 1,300 EMMS false Stock .808 USD ISLAND 10:46:01 6.30
+ BOT 3,200 EMMS false Stock .850 USD EDGEA 10:56:10 16.00
+ BOT 7,800 EMMS false Stock .860 USD EDGEA 11:08:25 36.99

ZAGG Incorporated (ZAGG.OB) I played twice. Once anticipating a TimAlert, the second time scalping off of one.

+ SLD 1,000 ZAGG false Stock 6.900 USD SMART 12:39:13 5.00
+ BOT 1,000 ZAGG false Stock 6.755 USD SMART 12:44:35 5.00
+ SLD 1,929 ZAGG false Stock 6.300 USD ARCAEDGE 14:21:43 9.64
SLD 368 ZAGG false Stock 6.3000 USD SMART 14:22:55 1.84
+ BOT 2,297 ZAGG false Stock 6.208 USD SMART 14:28:01 11.48

Today’s profit: $416.78

Disclosure: Long 10,000 shares of DNE. I have a disclosure policy.

August 12th trading recap

BOT    200    WX    false    Stock    12.149    USD    SMART    09:48:18        1.00
SLD    200    WX    false    Stock    11.99    USD    SMART    09:53:25        1.00
($33.88)

WX was a pre-leader; I tried going long (got a horrible fill) on the $12 cross and got whipsawed out. It later hit a high of $13.49. A looser stop or a willingness to get back in when it went back over $12 would have led to nice profits. ADCT was another pre-leader today that ran well; I missed playing it.
BOT    500    DRL    false    Stock    4.060    USD    SMART    10:19:05        2.50
SLD    500    DRL    false    Stock    3.980    USD    ARCA    10:23:08        2.50
($45.00)

DRL has run in the past; in retrospect trying this on the break of $4 was not a good idea (especially considering its multi-day chart).

Daily Profit: ($78.88)

Disclosure: No positions. I have a disclosure policy.

Watchlist for Wednesday, August 12th

Not much that interests me for tomorrow:

HLCS: crazy stock, crazy moves recently. It will move, but I have no clue which way. I doubt I will play it.

AVNR: gap and crap on positive (but weak) drug news. Was a good short when it failed to hold 4. I thought about shorting when it broke $3.50 but did not. I do not see much further downside or upside and I will avoid it.

JAZZ: up 20% after hours on positive earnings release. There is no play either way that I see.

Disclosure: No positions. I have a disclosure policy.

August 11th recap

Boring day today for me.

AVNR was a pre-leader. I bought on the $4 cross and sold for a fat profit of $0.00 when it failed to move higher. It did not help that the market was down fairly big today. It would have been a great short from there. I thought about shorting it at $3.50 but did not; I do not like shorting fades of stocks up on news and still way green for the day.

BOT    500    AVNR    false    Stock (NMS)    4.030    USD    SMART    09:39:22    BookTrader    2.50
SLD    500    AVNR    false    Stock (NMS)    4.04    USD    BATS    09:40:10        2.50

CHINA was a TimAlerts play. I first played it to scalp a few cents off of TimAlerts subscribers but that did not work so I covered quickly. I held onto 4,000 of my 16,000 shares but covered when it showed some strength at 3pm EST.

+    SLD    6,000    CHINA    false    Stock (NMS)    2.710    USD    SMART    12:36:48        30.00
+    SLD    6,000    CHINA    false    Stock (NMS)    2.710    USD    ARCA    12:36:50        30.00
+    SLD    6,000    CHINA    false    Stock (NMS)    2.700    USD    DRCTEDGE    12:37:21        30.00
+    BOT    14,000    CHINA    false    Stock (NMS)    2.700    USD    SMART    12:43:05        70.00
+    BOT    4,000    CHINA    false    Stock (NMS)    2.670    USD    SMART    15:00:23        20.00
+$61.71 overall

Today’s profit: $61.71

Disclosure: No positions. I have a disclosure policy.