An Introduction to shelf registrations

Probably the most common kind of way of issuing and registering new stocks is a shelf registration. This is filed on SEC Form S-3 (F-3 if the issuer is a foreign company). These can be used with multiple types of offerings, including most commonly PIPEs, Private Investments in Public Equities, where the shares have been sold to an investor and the shares are now being registered so that investor can sell those shares; ATMs or At the Market Offerings (PDF), where a company sells shares into the open market from time to time; and registration of shares underlying warrants or convertible bonds.

Shelf Takedowns by Greenberg Traurig (PDF)
FAQs about Shelf Offerings by Morrison Foerster (PDF)

Besides the actual shelf registration statement, the company has to file a prospectus supplement within two days of whichever comes first, the offering being priced or the shelf registration being used. Also, just because a shelf registration is filed does not mean it can be used immediately — the registration needs to be declared effective after the SEC reviews the registration. This typically takes two to three weeks from when the registration statement is filed. When a shelf registration (or another registration statement) has become effective a form EFFECT will be posted. For example, here is a shelf registration, prospectus, and EFFECT for Diana Containerships (DCIX):

 

Disclaimer. No position in any stocks mentioned and I have no relationship with anyone mentioned in this post. 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.

Excel Macro to run trade report on DAS Trader Pro trade log

I have been mucking about with some programming lately and I only just realized that the work I had been doing to get my average price on trades so I can enter it into my trade log was easily automated. The below Excel (2010 is the version I use) macro has made my life a little easier so I am sharing it here. This can be used with the ‘trade’ output of DAS Trader Pro (which I am currently using with Centerpoint Securities) but with slight changes could be used on the output from Sterling Trader Pro or other trading platforms. There are easier ways to get the summaries, but I make sure to record trades I make in my trade log with details including my trade plan and post-trade evaluation — most of the time I’ll put together all the trades in each ticker to save time and because I’m trading the stock with one strategy. So for my purposes I like having the average price (including fees) shown neatly.

First, start with how the data should be formatted prior to the macro working. Go to “Trade” in DAS Trader Pro and then click “Trades”. Select the columns and copy and paste into an Excel worksheet named “scratchpad” (and make sure to paste into column B). Then hit Control + A to select the entire range of data and run the macro (I have it hotkeyed on my computer to Control+P). This will create a new worksheet, run a pivot table, copy the pivot table data, delete the pivot table worksheet, and paste the pivot table data and price per share in an easy to read format in another new worksheet.

Here is how the data should be formatted in your trade report that you paste into Excel (you do not need a header row):

inputdata

And below is how the data will be output:

macro_output

Obviously, you can use this same basic code framework to get lots of other data easily (such as ECN fees, etc). The one thing this code will not do is account for per-trade fees. I don’t have them at Centerpoint (clearing through ETC) so I didn’t program them. Also, make sure you enter your per-share commission into the code. Use this code at your own risk — I provide it without warranty or support.

Warning: if you are a programmer you will find my code ugly. You have been warned.

Below is the code:

Sub DAStraderAvgPrices()

‘ DAStraderAvgPrices Macro
‘ For this to work you need to copy pasta the following columns from DAS into the ‘sheet ‘scratchpad’
‘Time | Ticker | Buy/Sell | Price | Shares | Route | ECN Fees | Amount of trade
‘Those columns all must be there in that order or it will mess lots of things up.
‘The trades must be pasted into column B and then select all the trade info ‘(control+A)

Dim myRange As Range
Dim i As Long
Dim HeaderRange As Range
Dim HeaderPasteRange As Range
Dim TopLeft As Range
Dim objTable As PivotTable
Dim objField As PivotField
Dim rng As Range
Dim ws1 As Worksheet
Dim pt As PivotTable
Dim rngPT As Range
Dim rngPTa As Range
Dim rngCopy As Range
Dim rngCopy2 As Range
Dim lRowTop As Long
Dim lRowsPT As Long
Dim lRowPage As Long
Dim PivotTableSheet As String
Dim celltxt As String

‘this is my commission rate
commission = 0.0035

Set myRange = Selection

‘sort by column C then D (ticker then buy/sell)
myRange.Sort Key1:=Columns(3), Order1:=xlAscending, Key2:=Columns(4) _
, Order2:=xlAscending, Header:=xlGuess, OrderCustom:=1, MatchCase:= _
False, Orientation:=xlTopToBottom
‘the above works! Yay!

‘this section calculates the cost basis (including ECN fees and commissions) of each fill
For i = myRange.Rows.Count To 1 Step -1
Set BuySell = myRange.Cells(i, 3)
If BuySell.Value = “B” Then
myRange.Cells(i, 8) = (myRange.Cells(i, 4) + commission) * myRange.Cells(i, 5) + myRange.Cells(i, 7)
ElseIf BuySell.Value = “S” Then
myRange.Cells(i, 8) = (myRange.Cells(i, 4) – commission) * myRange.Cells(i, 5) – myRange.Cells(i, 7)
ElseIf BuySell.Value = “SS” Then
myRange.Cells(i, 8) = (myRange.Cells(i, 4) – commission) * myRange.Cells(i, 5) – myRange.Cells(i, 7)
End If
Next i

‘Here we append the header row to the data
myRange.Cells(0, 1) = “Time”
myRange.Cells(0, 2) = “Ticker”
myRange.Cells(0, 3) = “Buy/Sell”
myRange.Cells(0, 4) = “Price”
myRange.Cells(0, 5) = “Shares”
myRange.Cells(0, 6) = “Route”
myRange.Cells(0, 7) = “ECN Fee”
myRange.Cells(0, 8) = “Amount”

‘Pivot table time!

‘only uncomment the following two lines when testing on specific region
‘ActiveWorkbook.Sheets(“scratchpad”).Select
‘Range(“B4”).Select

ActiveWorkbook.Sheets(“scratchpad”).Select
myRange.Cells(0, 1).Select

Set objTable = ActiveSheet.PivotTableWizard

Set objField = objTable.PivotFields(“Ticker”)
objField.Orientation = xlRowField
objField.Position = 1

Set objField = objTable.PivotFields(“Buy/Sell”)
objField.Orientation = xlRowField
objField.Position = 2

Set objField = objTable.PivotFields(“Shares”)
objField.Orientation = xlDataField
objField.Position = 1
objField.Function = xlSum
objField.NumberFormat = “##,###”

Set objField = objTable.PivotFields(“Amount”)
objField.Orientation = xlDataField
objField.Position = 2
objField.Function = xlSum
objField.NumberFormat = “##,###.##”

‘Pivot tables with multiple data fields have hidden field “data” —
‘adding the below line makes it display correctly
objTable.AddFields Array(“Ticker”, “Buy/Sell”), “Data”

‘Copy the Pivot table and paste it into a new worksheet as values
On Error Resume Next
Set pt = ActiveCell.PivotTable
Set rngPTa = pt.PageRange
‘On Error GoTo errHandler

PivotTableSheet = ActiveSheet.Name

‘If pt Is Nothing Then
‘ MsgBox “Could not copy pivot table for active cell”
‘ GoTo exitHandler
‘Else
Set rngPT = pt.TableRange1
lRowTop = rngPT.Rows(1).row
lRowsPT = rngPT.Rows.Count
Set ws1 = Worksheets.Add
Set rngCopy = rngPT.Resize(lRowsPT – 1)
Set rngCopy2 = rngPT.Rows(lRowsPT)

rngCopy.Copy Destination:=ws1.Cells(lRowTop, 1)
rngCopy2.Copy Destination:=ws1.Cells(lRowTop + lRowsPT – 1, 1)
‘End If

If Not rngPTa Is Nothing Then
lRowPage = rngPTa.Rows(1).row
rngPTa.Copy Destination:=ws1.Cells(lRowPage, 1)
End If

ws.Columns.AutoFit

‘Stopping Application Alerts
Application.DisplayAlerts = False

‘delete pivot table sheet
Sheets(PivotTableSheet).Delete

‘Add in some formatting and get price per share for buys/sells

Columns(“C:C”).ColumnWidth = 13.71
Columns(“D:D”).ColumnWidth = 14.86
Range(“G2”).Select
ActiveCell.FormulaR1C1 = “Price”
Columns(“G:G”).Select
Selection.NumberFormat = “0.0000”
Selection.ColumnWidth = 11.43
Range(“F3”).Select
ActiveCell.FormulaR1C1 = “=IF(ISBLANK(RC[-4]),””””,RC[-4])”
Range(“F3”).Select
Selection.AutoFill Destination:=Range(“F3:F197”), Type:=xlFillDefault
Range(“F3:F197”).Select
Range(“G3”).Select
ActiveCell.FormulaR1C1 = _
“=IF(ISBLANK(RC[-3]),””””,IF(ISBLANK(RC[-5]),””””,RC[-3]/RC[-4]))”
Range(“G3”).Select
Selection.AutoFill Destination:=Range(“G3:G202”), Type:=xlFillDefault

‘Loop through table to clear all rows that contain “Total”
Last = Cells(Rows.Count, “D”).End(xlUp).row
For i = Last To 1 Step -1
celltxt = Cells(i, “A”).Text
If InStr(1, celltxt, “Total”) Then
Cells(i, “A”).EntireRow.ClearContents ‘ USE THIS TO CLEAR CONTENTS BUT NOT DELETE ROW
End If
Next i

ActiveSheet.UsedRange.Select

exitHandler:
Exit Sub
errHandler:
MsgBox “Could not copy pivot table for active cell”
Resume exitHandler
End Sub

 

Disclaimer: I have no position in any stocks mentioned as of this post being published but I may trade them in the future. I am a client of Centerpoint Securities (clearing through ETC). I have no relationship with any other parties mentioned above. 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.

2011 Super-mega-ultra pump and dump recap

I haven’t done any posts like this so far this year so I am going pretty far back. Please remind me in the comments of any big pumps I forget  and I’ll add them. See my last pump and dump recap from January to see some mailer pumps from the very beginning of the year.

Mailer Pumps

SPLM – $400k snail mail pump. See an image of the disclaimer here. The last part of the disclaimer is the most interesting: “”In order to enhance public awareness of Sentry Petroleum Ltd., and other companies profiled by WER [World Energy Report] through the distribution of this report, ECA [Energy Capital Advisors] paid WER four hundred thousand dollars. These funds were applied towards costs associated with creating, printing, and distributing this report. ECA will pay no additional sums. WER, ECA, and those associated with them may own shares and effect transactions in securities of Sentry Petroleum Ltd and other companies mentioned in this publication the sale of which could adversely affect the share price. The owner of ECA owns approximately zero point two six (0.36) percent of the outstanding shares Sentry Petroleum Ltd [sic] and will not sell any of those shares within ninety days of the date of this mailing.” [emphasis mine]

 

 

KNKT – $800k pump from Capital Financial Media (CFM). See post here (unfortunately the pump website is offline).

UTOG – $2.5m mailer pump. Trading was suspended by the SEC for two weeks at the beginning of June (a rare case where the SEC suspended trading in an active pump & dump). See website www.AmericanEnergyReport.com Disclaimer: “AmericanEnergyReport.com has been retained by an unrelated third party to perform promotional and advertising services intended to increase investor awareness of UnionTown Energy Inc. (UTOG). To date, AmericanEnergyReport.com has received two million five hundred thousand US dollars from an unrelated third party for performing these services. The services performed have included profiling the company on the AmericanEnergyReport.com website and issuing opinions concerning UTOG in newsletters and press releases. AmericanEnergyReport.com has received this amount as a production budget for advertising efforts and will retain amounts over and above the cost of production, copywriting services, mailing and other distribution expenses as a fee for our services. In addition AmericanEnergyReport.com expects to receive an additional two million dollars cash in future compensation for the continuation of the marketing program for an additional 3 months and to cover marketing vendors to pay for the costs of creating and distributing this report online in an effort to build market awareness, and AmericanEnergyReport.com will disclose any future compensation.”

 

LEXG – The greatest pump I have ever seen and probably one of the best ever. Note not just the price movement but the incredible volume — the value of stock traded on its last big up day exceeded $100m. This had a $3.29m budget disclaimed on these two websites: http://www.smauthority.com/video and http://www.thestockdetective.com/lexg/

Disclaimer: “Lithium Exploration Group, (LEXG), the company featured in this issue, appears as paid advertising, paid by Gekko Industries to provide public awareness for LEXG. … CM [Circuit Media] has received and managed a total production budget of $3,296,800 for this advertising effort and will retain any amounts over and above the cost of production, copywriting services, mailing and other distribution expenses, as a fee for its services. TSD [TheStockDetective] is paid $50,000 as an editorial fee from CM and also expects to receive new subscribers as a result of this advertising effort.”

Please note that unlike most of the stock charts on this page, the chart below is not log scale, to make seeing the price action during the pumps easier to see.

JAMN – An incredibly successful pump, the second most successful pump I have ever seen, after LEXG. This was pumped by HackTheStockMarket.com; see the pump page here (or here or here). The name and address information required by the CAN-SPAM law from this pumper changed multiple times, which leads me to believe it was all fake. HackTheStockMarket disclosed only $15,500 in payment for the promotion. The disclaimer was an image that is shown below.

Please note that unlike most of the stock charts on this page, the chart below is not log scale, to make seeing the price action during the pumps easier to see.

AVVC – $1.8m budget disclosed on this mailer pump. Lots of speculators / traders / idiots lost big going long on this stock — it was the first big pump failure following a string of very successful pumps early this year. Disclaimer: “CFM has received and managed a total production budget of $1,800,000 for this online advertising effort and will retain any amounts over and above the cost of production, copywriting services, mailing and other distribution expenses, as a fee for its services. Breakaway Stocks is paid $5,000 as an editorial fee from CFM and also expects to receive new subscriber revenue as a result of this advertising effort.” from this website.

LOGL – $1.275m mailer pump — see the SI pump mailer message board.

TBBC –  This was a large pump from multiple sources with over $800,000 in compensation. Following are those that I can find:

“Charles Payne’s Common Sense Newsletter received forty thousand dollars, as an editorial fee, from Creative Direct Marketing Group, Inc., which it received from the featured Company. This company was chosen to be profiled after Charles Payne’s Common Sense Newsletter completed due diligence on the company. Charles Payne’s Common Sense Newsletter expects to generate revenue and new newsletter subscribers and valuable exposure, the amount of which is unknown at this time, resulting from the distribution of this report. Creative Direct Marketing Group, Inc. received fifteen thousand, eight hundred dollars from the Company, for the costs of creating and distributing this report in an effort to build investor awareness.” from this pump website

“StockMarketLife.com has been retained by an unrelated third party whose principal is a shareholder of the featured company, The Brainy Brands Company Inc. (TBBC), to perform promotional and advertising services intended to increase investor awareness of TBBC. StockMarketLife.com expects to receive up to six hundred thousand US dollars from the unrelated third party for performing these services. The services performed have included profiling the company on the StockMarketLife.com website and issuing opinions, including Charles Payne’s report, concerning TBBC on this website, online marketing, in newsletters and press releases. StockMarketLife.com has received this amount as a production budget for advertising efforts and will retain amounts over and above the cost of the production, copywriting services, mailing, media buying and other online distribution expenses as a fee for our services.” This disclaimer was also in emails from GreenGainers.com and PowerPennyStocks.com, which all appear to be run by the same person/company.

“PennyStockRewards.com is a wholly owned subsidiary of Asset Development Strategies Corp.  Currently Asset Development Strategies Corp. has been compensated $50000.00 for this advertising program from a non-affiliated third party shareholder who will be selling stock in TBBC.”

WallStreetPennyStockAdvisors.com received $200,000

 

RYUN – I am not sure of the details of this pump.

AAGC – $1.26m budget disclosed. Absolute destruction. Michael Williams Market Movers was paid $20,000 by Citiglory Consultants Ltd and Citiglory paid $1,265,178 for the cost of the promotion — due to website troubles I lost my copy of the disclaimer (the bastards had it as an image that I had saved). See the online version of the mailer (no longer working).

TKDN – $1.4m budget disclosed. Absolute destruction. Disclaimer: “CFM has received and managed a total production budget of $1,400,000 for this online advertising effort and will retain any amounts over and above the cost of production, copywriting services, mailing and other distribution expenses, as a fee for its services. M3 Profit Accelerator is paid $3,000 as an editorial fee from CFM and also expects to receive new subscriber revenue as a result of this advertising effort.” (CFM = Capital Financial Media). See the online version of the mailer at SmallCapFortunes

TKDN is an even more impressive dump when considered over nine months (hardly the long-term!) it dropped from a high of about $1.34 to a low of $0.006 — a drop of 99.55%.

Note: on 12/19/2011 the pumps in this post run by the big three email pumpers were removed to a GoodeTrades Premium post and more info on those pumps was added.

Disclaimer: No positions. 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.

 

Boxing your shorts: Why I could short TNGS when almost no one else could

One of the problems with a lot of pump and dumps is that there are often not any shares to short when the stock is about to fall. However, there are often shares available to short days before, when the pump is just starting. For example, there were at least 5,000 shares per day of TNGS available to short at Interactive Brokers for many days prior to its big drop day. However, from January 19th (the day before its big drop) to January 21st (the 2nd big drop day) there were no shares available to short at Interactive Brokers. Below is a chart from Interactive brokers showing the share availability to short of TNGS.

So what can a short seller do? The simple answer is to box the shares (this is also referred to as simply boxing). Boxing originated as a tax technique designed to delay the realization of capital gains while eliminating the risk of holding a stock. So for example an investor who was long 1,000 shares of AAPL since 1990 would then go short against the box, selling short an equal number of shares either in the same account (some brokers let you do this) or in another account, if he believed the stock was temporarily overvalued. This eliminated the risk of holding AAPL stock and did not require realizing a huge taxable capital gain. This tax loophole was closed in 1997. Now the only reason to box shares is to lock up short shares.

What I do on many pumps (the ones I know I will want to short sell) is I short shares at Interactive Brokers while going long an equal number of shares at SpeedTrader. Sometimes I will already be long the stock as I do sometimes try to make money by buying pumps (but shorting is much easier). Other times I will scalp to open the boxed position (for example I might scalp short and then buy long in my other account to box, rather than covering). By boxing the shares I accomplish two things: (1) I can now short whenever I want by selling my long shares, even long after no new shares are available to short, and (2) I can get better fills when I do decide to short an OTC stock because Speedtrader has more direct-routing options than does IB.

So how did I implement this for pump TNGS? I shorted 3000 shares at Interactive Brokers at an average price of $2.51 on 1/14 (that I later covered at $2.096 on 1/20 and 1/21). The same day, I bought 3000 shares in my Speedtrader account (I think I actually ended up buying for poor scalps multiple times, which explains why my average buy price is so much higher than my average short, and why Profit.ly has the position size at 4900 shares).

To get net short on 1/19 when TNGS was looking weak and I thought it might drop, I sold my long shares at Speedtrader, and I rebought them when TNGS held up (again, I had partial fills and some scalping so Profit.ly shows more than 3000 shares). On 1/20, soon after the open, TNGS looked weak and actually went red on the day. I shorted then by selling my long shares and I bought them back for a loss. When it went red again just a little bit later I believed it was time for the death drop and I sold my long shares a final time (2500 at $2.83 and 500 at $2.85). To cover, later that day and the next day, I covered my short shares at IB. I covered 2,000 shares on 1/20 at an average price of about $2.16; IB bought in 800 of my remaining shares at 2.05 the next morning, and I covered the last 200 shares into the 2nd down day morning panic at $1.64. Overall I netted $1913.21 from my trades on TNGS. Even considering the total capital I needed to make these trades (6,000 shares * a maximum price of $2.89 = $17,340), my percentage return was nice (11.0%).

There are of course downsides  to boxing. It uses up capital (and if you aren’t careful you can generate a margin call in one account even though you are not losing money overall), generally requires multiple brokerage accounts, generates more commissions, and requires more planning than just shorting. That being said, as long as the net result is a profit on a stock that would not have been otherwise shortable when you wanted to short it, the end result makes the hassle worthwhile. The only risk to boxing is forced buy-ins of short positions. This actually happened to a couple traders I know who had boxed shares of TNGS in preparation for its big down day. One of those traders was forced by Interactive Brokers to cover his short shares right at the open on 1/20, just an hour before the stock dropped. However, being forced to cover part of a boxed position will only saddle a trader with the costs of commissions and slippage.

A note on the psychology of boxing: I have seen other traders refer to ‘making money’ on one side of a boxed position while ‘losing money’ on the other side. I do not think of it like that. If I am long the same number of shares I am short, I have no net position and no risk. I consider myself ‘flat’ and think about it as if I had no positions in the stock. I then consider myself to be shorting when I sell my long shares.

2nd Down day intraday 1-minute chart

Disclosure: Short 40,000 shares of CWNR at Interactive Brokers and long 40,000 shares of CWNR at SpeedTrader. No positions in any other 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.

BestDamnTradeRecap dot Com!

Not a full trade recap, but just my recap of BestDamnPennyStocks (and all their other websites) re-pump of CWNR.

Profit on CWNR: $5,066.31 (my other trades netted me additional profit but I didn’t want to take the time to discuss them)

Disclosure: Short 2,000 shares of CWNR. No positions in any other 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.

Trade recap for the new year: Some lessons learned

A good start to the new year. I wanted to commemorate the CPOW chart and my thoughts on it; I am still on my blogcation so don’t expect this every day!

All trades today:

SLD 20,000 CPOW false Stock 0.330 USD SMART 09:30:23 33.00 null
+ SLD 20,000 CPOW false Stock .330 USD SMART 09:30:39 33.00 null
BOT 5,000 CPOW false Stock 0.305 USD SMART 09:32:43 7.62 null
BOT 5,000 CPOW false Stock 0.291 USD SMART 09:34:47 7.28 null
BOT 5,000 CPOW false Stock 0.290 USD SMART 09:34:59 7.25 null
BOT 5,000 CPOW false Stock 0.280 USD SMART 09:37:00 7.00 null
+ BOT 10,000 CPOW false Stock .279 USD SMART 09:37:55 13.94 null
BOT 5,000 CPOW false Stock 0.279 USD SMART 09:37:55 6.98 null
+ BOT 5,000 CPOW false Stock .280 USD SMART 09:40:01 6.99 null
SLD 10,000 MDMN false Stock 0.1425 USD SMART 09:50:52 7.12 null
+ SLD 11,427 MDMN false Stock .143 USD SMART 09:50:54 8.16 null
+ SLD 20,000 MDMN false Stock .142 USD SMART 09:50:54 14.20 null
BOT 11,427 MDMN false Stock 0.1276 USD SMART 09:53:27 7.29 null
BOT 5,000 MDMN false Stock 0.1320 USD SMART 09:58:11 3.30 null
+ BOT 10,000 MDMN false Stock .131 USD SMART 09:58:12 6.55 null
BOT 5,000 MDMN false Stock 0.1379 USD SMART 10:03:11 3.45 null
+ BOT 8,000 MDMN false Stock .136 USD SMART 10:03:13 5.43 null
BOT 2,000 MDMN false Stock 0.1379 USD SMART 10:03:13 1.38 null

10:41:48 ENHD B 0.6301 1000 SBSH

10:51:09 ENHD S 0.7401 1000 ARCA

14:26:08 CPOW B 0.2052 10000 UBSS

14:28:15 CPOW S 0.2099 6000 UBSS

14:28:33 CPOW S 0.2095 4000 NITE

14:52:40 CHGS SS 4.25 100 SMART

14:52:42 CHGS SS 4.25 500 SMART

14:52:42 CHGS SS 4.25 400 SMART

15:25:25 CHGS B 4.04 200 SMART

15:25:25 CHGS B 4.04 800 SMART

Daily profit: $2,334.01

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 no longer recommend InvestorsUnderground.com stock chat

I stopped using InvestorsUnderground stock chat in December 2010 and I stopped recommending the chat at the same time. I do not recommend products or services that I do not use.

This article was posted on 3/15/2012 in place of an old article of little importance. While I ceased to recommend IU chat at the end of 2010 and I removed my affiliate link, I redirected my former affiliate links in old articles to redirect to a blog page that did not exist. I thus failed to properly notify my blog  readers of my change in opinion. I regret that failure and have posted this article very belatedly to clarify my opinion for anyone who finds my blog through a web search and then clicks my IU affiliate link.

See related post Penny Stock Trader Nate Michaud Settles with SEC in Pump and Dump Case.

Disclosure: I used to be an affiliate of InvestorsUnderground (IU) stock chat, for which I received 50% of a new subscriber’s first month’s payment and 25% on an ongoing basis. I have not received any affiliate payments from them since December 2010. I am no longer a member of InvestorsUnderground stock chat; my membership ended at the end of 2010. I had subscribed to IU since its inception at the beginning of 2009 and I paid the standard rate of membership for charter members, which was $99/quarter (I also was a member of the free predecessor chat, Green on the Screen, for 6 months starting in summer 2008). From 2009 through 2010, I received a total of $5,720.39 (net of Paypal fees) from Pietro Rossa Trading (the Nevada corporation through which Nate Michaud runs InvestorsUnderground). 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.

Trade recap for December 20th: Why ISCO moved so much the last few days

Software problems were compounded by mental errors, leading to a bad day.

10:56:14    TNGS    B    1.91    2000    NITE
10:56:32    TNGS    S    1.85    100    NITE
10:56:37    TNGS    S    1.85    400    NITE
10:56:37    TNGS    S    1.85    500    NITE
10:56:44    TNGS    S    1.85    500    NITE
10:56:47    TNGS    S    1.85    500    NITE

+    SLD    5,000    ISCO    false    Stock    2.290    USD    SMART    09:35:59        25.00        null
SLD    500    ISCO    false    Stock    2.2960    USD    ARCAEDGE    09:36:03        2.50        null
BOT    1,500    ISCO    false    Stock    2.3000    USD    SMART    09:39:30        7.50        null
BOT    2,000    ISCO    false    Stock    2.3000    USD    SMART    09:39:30        10.00        null
BOT    2,000    ISCO    false    Stock    2.3000    USD    SMART    09:39:30        10.00        null

Daily profit: ($249.50)

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.