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Today was a horrible day. Not because my loss was huge; rather, it was acceptable. It was horrible because I messed up what should have been an easy trade. I even messed up pronouncing “plethora” in the video. Despite following EMGE closely over the last two days and seeing the exact same pattern play out a week ago in GVBP, I messed up the trade completely.
Daily profit: ($1487.99)
Weekly profit: $192.74
Disclosure: No positions. I have a disclosure policy.
When the Reaper says “I’m going to destroy this stock,” you might want to watch out. I posted that in the TimAlerts members-only chatroom (sign up here for Timalerts) as I advised anyone long AEXP to sell before I started selling short. AEXP was a Stockpreacher / Beacon Equity pump from $1 and I started shorting at $1.90. I averaged my position up to 6500 shares at $2.12 as it hit a high of $2.55. I later covered at an average of about $1.58 for a cool 25% profit margin. At the time I had finished covering my position my trading represented over 3% of the volume in AEXP today.
I also went long 20,000 shares of GVBP at $0.26 this morning in pre-market trading but that trade was busted as a trade-through. It was still a nice risk/reward: my risk was the $26 in commissions I paid and my potential reward was over $5,000. So even with a 99% chance of the trade being busted I thought it worth a shot.
I am happy with my trading today and am glad to be in the green for the week.
Today’s profit: $4,622.95
My trades today at IB:
BOT 0 GVBP false Stock (OTCBB) 0.0000 USD ARCAEDGE 08:55:45 13.50
BOT 0 GVBP false Stock (OTCBB) 0.0000 USD ARCAEDGE 08:55:48 12.50
BOT 10,000 AVVH false Stock 0.0100 USD SMART 13:01:07 1.00
BOT 20,000 AVVH false Stock 0.0100 USD SMART 13:01:30 1.00
BOT 200 ZOOM false Stock (SCM) 9.65 USD SMART 13:23:14 1.00
SLD 30,000 AVVH false Stock 0.0090 USD SMART 13:23:24 1.35
SLD 200 ZOOM false Stock (SCM) 10.29 USD SMART 13:30:16 1.00
Beacon Equity disclaimer on AEXP:
Note: After I recorded the video and made this post I made the following trades:
+ BOT 10,000 SPDE false Stock (SCM) 7.497 USD ISLAND 15:18:30 50.00
+ SLD 8,000 SPDE false Stock (SCM) 7.600 USD SMART 15:19:06 40.00
+ SLD 2,000 SPDE false Stock (SCM) 7.670 USD ISLAND 15:20:59 10.00
+$1072.30. My daily profit has been updated to reflect this.
(click image for full-size screenshot of my SPDE profit)
Disclosure: No positions. I have a disclosure policy.
It appears that it is still not too late to sign up for Tim Sykes’ Las Vegas pennystocking seminar on October 18th and 19th. I will be in Las Vegas from Saturday October 17th until Tuesday October 20th and I will be staying at the Excalibur (yay for cheap rooms on the strip!). The seminar is truly a great deal as I explained in my earlier post on 8 reasons why you should go. For an investment of only $847 you get to attend a seminar that lasts for two full days (if you cannot attend, Tim offers the option of seeing a live webcast of the event), you get to meet such great pennystockers as myself and InvestorsLive of the InvestorsUnderground.com penny stock chatroom (not to mention Tim Sykes), you receive DVD recordings of the entire seminar, you receive one of Tim Sykes’ DVD packages of your choice, and you get to attend the wild and raucous pennystocking party Tim will hold at the end of the seminar day (at which I have foolishly pledged to buy a round of drinks for everyone and Tim Sykes will be goaded into doing likewise). So don’t be a party pooper and sign up for the Vegas seminar today!
Today I suffered more pain on GVBP as the pump continues. I cut my losses as it hit new highs late in the day (at $0.63); this was definitely the right choice as it quickly thereafter squeezed to $0.81. I had a nice little trade on RAME that was a nice breakout above $1.12; I wouldn’t have even noticed that had Investorslive not mentioned it in the InvestorsUnderground.com stock chat. I also shorted CNWI and will hold that for a few days or until it dumps … it is another pure pump & dump like GVBP but its upward momentum is already gone.
Daily profit: ($3,893.60)
Despite today’s loss I am currently in a week-long drawdown (in other words, I am back to the profit level I had a week ago).
Disclosure: Short 10,000 shares of CNWI. I have a disclosure policy.
Video recap.
Daily profit: $28.01
Weekly profit: $4,403.58
Disclosure: No positions. I have a disclosure policy.
XSUNX (OTC BB: XSNX) was pumped this morning by StockPreacher (whose pump of ALAN was an awesome short for me months ago) and Beacon Equity (both are owned by the same people). They were paid 900,000 shares by the company to promote it. Timothy Sykes had a good blog post about this pump. You can see the pumper’s disclaimer below. One nice little touch is that Beacon Equity’s disclaimers are images so it is harder to search to see how much they were paid for each pump.
(click here for a larger 1-day chart of XSNX).
As a result of the pump the stock jumped from $0.12 to $0.22 in under 15 minutes. I sold short 35,000 shares at $0.202 at Interactive Brokers just as it started to fade off of its day’s high. The one problem with short selling such a cheap stock is it is not only not marginable, but short selling stocks under $2.50 per share requires $2.50 per share in cash. So short selling this stock required that I use $87,500 in cash. Still, It was a super-easy short with little risk. Except for the first minute, this trade was never in the red. The stock fell quickly with only anemic bounces. Just over one hour later I covered my short position at $0.156 when I got bored and netted $1,612.37 with a profit margin of 22.8%
By the way, it is still not too late to sign up for Tim Sykes’ Las Vegas Seminar on October 18th and 19th. If two more people sign up using my affiliate link in the next couple days then I will go to the seminar too! See my previous post on the seminar for all the great reasons you should go (and a special benefit–a phone consultation with me–for those who sign up using my affiliate link).
I should also point out that I informed my Twitter followers about my intention to short XSNX even before I got filled on my short sale order so any of them with Interactive Brokers could have easily made 20% shorting this pump & dump with me!
Disclosure: No positions. I have a disclosure policy.
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.
GGC an easy short once it went negative on the day. It was quick, but a smart trader would have nailed it for $4 per share in under 20 minutes. Unfortunately, despite anticipating this and having my 2000 share short order ready at SogoElite (which had shares of GGC to short), I completely missed the trade.
See the video:
Short 2100 GGC @ 31.062 (at SogoElite)
Cover 2100 GGC @ 30.977
+$177.24
Other trades for the day:
SLD 200 WUHN false Stock (SCM) 4.00 USD ISLAND 09:31:17 1.00
SLD 200 WUHN false Stock (SCM) 4.00 USD ISLAND 09:31:22 1.00
SLD 200 WUHN false Stock (SCM) 4.00 USD ISLAND 09:31:29 1.00
BOT 600 WUHN false Stock (SCM) 3.84 USD ISE 11:06:20 3.00
+$90
+ SLD 2,050 SCLN false Stock (NMS) 4.200 USD ARCA 09:39:12 10.25
+ BOT 2,050 SCLN false Stock (NMS) 4.170 USD ARCA 09:40:08 10.25
+$40.50
Short 1300 WUHN @ 3.798 (at SogoElite)
Cover 1300 WUHN @ 3.585
+$277.28
+ SLD 6,000 CHINA false Stock (NMS) 2.792 USD SMART 15:41:25 30.00
+ SLD 6,000 CHINA false Stock (NMS) 2.780 USD SMART 15:41:28 30.00
+ BOT 6,000 CHINA false Stock (NMS) 2.763 USD SMART 15:42:58 30.00
+ BOT 6,000 CHINA false Stock (NMS) 2.770 USD SMART 15:43:30 30.00
+$118.30
Today’s profit: $703.82
Disclosure: No positions. I have a disclosure policy.
Another video recap today.
Here are my trades:
Short GGC 1000 35.514
Cover GGC 1000 37.16
($1626.00)
GGC was bouncy and my entry wasn’t great. I should’ve shorted at $36.80 on break of $37 resistance, not on break of the day’s low.
+ BOT 6,000 SCLN false Stock 4.164 USD ARCA 14:58:19 30.00
+ BOT 6,000 SCLN false Stock 4.173 USD ARCA 14:58:22 30.00
+ SLD 4,000 SCLN false Stock 4.220 USD BATS 15:00:36 20.00
+ SLD 6,000 SCLN false Stock 4.214 USD BATS 15:00:52 30.00
+ SLD 2,000 SCLN false Stock 4.320 USD BATS 15:11:49 10.00
SCLN was a TimAlert. +$661
+ SLD 0 ICOG false Stock .000 USD SMART 16:16:17 30.00
+ BOT 0 ICOG false Stock .000 USD SMART 16:16:27 4.50
+ BOT 0 ICOG false Stock .000 USD SMART 16:15:51 23.00
I had made $980 on ICOG but the Nasdaq canceled all those trades so instead I lost the $57.50 I paid in commissions.
Overall profit today: ($1,022.50)
FRNTQ.pk and WUHN did what I exptected them to do. WUHN a bit too choppy and too wide of a spread to easily trade. FRNTQ.pk easy short but I was distracted; I had a sell order ready but didn’t execute because it was already down 10%. At one point it was down 42% on the day.
Disclosure: No positions. I have a disclosure policy.
I received some positive comments on yesterday’s video. In the future I will post trade recaps and watchlists in either video or text, whichever seems most appropriate for the job at hand.
Today was an all GGC day. I messed up my first trades, going long GGC (as I suggested in my watchlist from last night) on its cross of $27 (breaking yesterday’s highs). Besides messing up by having too tight of a stop (about 50 cents for my mental stop), I was unlucky.
BOT 200 GGC false Stock 27.3300 USD SMART 09:31:35 1.00
+ SLD 200 GGC false Stock 26.870 USD SMART 09:32:22 1.00
After my first attempt at buying I got back in and was stopped out again a mere 12 cents above the day’s low. Luck plays a critical role in trading.
BOT 200 GGC false Stock 27.1600 USD NYSE 09:34:17 1.00
+ SLD 200 GGC false Stock 26.615 USD ARCA 09:34:57 1.00
But no matter, that was only a $205 loss on the pair of trades. When GGC spiked to $47.19 (up almost 100%) I looked to short as it faded. While Interactive Brokers had no shares, Penson did:
GGC 200 shares shorted 39.8189 covered 35.81
I got almost exactly $4 per share on 200 shares, netting +$801.77. Overall, not a great day but not bad either.
+$596.77 for the day.
While I missed playing it, NLS from last night’s watchlist behaved nicely and would’ve made a nice short. VHC was down a little more. FRNTQ was up big.
Watchlist
GGC – Could be a nice short on green/red action.
FRNTQ.pk – Will be a good short on green/red action someday soon. Currently there are shares at IB.
WUHN – Up 60% on no news with huge volume? This thing will very likely be up big tomorrow too. Buying it when it breaks today’s high of $3.51 would probably work. Short on breaking below today’s close (but it is unlikely to do so).
Disclosure: No positions. I have a disclosure policy.
Today’s trade recap is in video format! Please take a look at it on Screencast.com to see it in high-definition.
Trades:
+ BOT 200 TSPT false Stock (NMS) 9.080 USD ISLAND 09:34:01 1.00
+ SLD 200 TSPT false Stock (NMS) 9.072 USD SMART 09:43:38 1.00
+ SLD 6,000 VHC false Stock 2.960 USD BATS 13:50:58 30.00
+ BOT 500 VHC false Stock 2.770 USD SMART 14:02:59 BookTrader 2.50
BOT 500 VHC false Stock 2.75 USD ISLAND 14:03:21 BookTrader 2.50
+ BOT 5,000 VHC false Stock 2.960 USD SMART 14:21:11 25.00
+$134.40 on the day.
Watchlist
This is a bit abbreviated tonight.
NLS – big move from $1.12 to $2.90 in eight days with no red candles. No news, short watch.
GGC – still on watch until it stops moving. I am long-biased. When this tanks it may tank quickly, but any strong move above today’s high of about $27 might make a good buy.
VHC – a bit choppy but still finished red without me in it. We should see more downside; I probably won’t play it but there is good risk / reward on the short when it goes red tomorrow. A tight (mental) stop would be a good idea.
FRNTQ.pk – up big on news it will get bought out of bankruptcy, likely by LUV. The equity is still probably worthless. Shares to short will be impossible to find though.
Disclosure: No positions. I am a customer of Tim Sykes and InvestorsUnderground and an affiliate of both of them. I have a disclosure policy that gives details on those relationships.
