Video trade recap and watchlist. See my recap of my great trade on XSNX which was the only interesting trade I had today.
Daily profit: $1,602.90
Watchlist
QELP – up 103% on no news but huge volume. Could be good either way. Long on strength, short on green/red action.
RVEP – same deal, up 100% (but on tiny volume of 150k shares). Both of these are master-limited partnerships that deal with energy (likely pipelines). What that means is that if you trade them you will have to file a form 1065 (annoying).
QRCP – long on red/green or breaks to new highs tomorrow. $0.90 is an important point but it will be overextended if it hits that so I wouldn’t look to buy then.
INHX – up 100% on huge volume and no news in three days. Short on green/red and fading price action. This is my prime candidate for a trade tomorrow.
Disclosure: No positions. I have a disclosure policy.
#1 by Mark on September 10, 2009 - 10:03 pm
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CNWI is up 400% in like 10 days.I don’t have IB but maybe there are shares out there…
#2 by Reaper on September 11, 2009 - 9:13 am
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CNWI a little too cheap for me to want to short … give it another big up day and I’ll be tempted. It is pumped, too.
#3 by Preston on September 10, 2009 - 10:21 pm
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QELP, I think thats what you said. I had that one typed in a comment earlier today for watch and realized it was related to energy and deleted my words.
DPTR is a stock that I am trying to learn to dissect the news on, it’s an Energy play as well.
They have been given the right to drill 4 wells, that was the news yesterday and the stock shot up. Today it comes out that in order to exercise that right they have to complete the “Gray” well they are on now, if it comes up short this will be a great short. It’s also on news that the call options are up big but that’s because speculators can get in cheaper with calls, it doesn’t mean the stock is going up.
Like I say this is a good example for me trying to get better at understanding why stocks jump.
#4 by Preston on September 10, 2009 - 10:33 pm
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hehe, trying to be so thorough with my news reading and didn’t even realize you had the stocks typed under the video.
I really like QRCP by the way.
#5 by Robert on September 11, 2009 - 1:07 am
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Just so i’m clear, fading price action refers to less volatility with a downward slope?
#6 by Preston on September 11, 2009 - 8:55 am
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Mark, CNWI could be good when it declines some, until then it could still go up.
Fading price action is when the price starts to decline with fading volume, usually with all red candle sticks but not always.
#7 by Preston on September 11, 2009 - 8:58 am
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DPTR could be a good pre-market leader.
#8 by Preston on September 11, 2009 - 9:01 am
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It also has some technical levels on a 1 year chart around 4.00.
#9 by Reaper on September 11, 2009 - 9:27 am
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IVAN broke 1.85 in pre … I went long at 1.92 on 2500 shares … I normally hate trading in pre-market so I am breaking my own rules here.
#10 by Reaper on September 11, 2009 - 9:37 am
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well that was a quick -$175 … and I quote “I am breaking my own rules here.” If I’d waited until the open I would have seen it open rather weak and I wouldn’t have bought.
#11 by Preston on September 11, 2009 - 9:40 am
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DSCO was one I had an alert on after JAZZ fooled us, take a look.
#12 by Preston on September 11, 2009 - 9:57 am
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Resistance is a bitch isn’t it.
#13 by Preston on September 11, 2009 - 10:04 am
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Well this is not related to the market today but I did recieve my PennyStocking Part Deux and it’s very good. I feel like I waited till the right time to get it because it hasn’t overwhelmed me with information yet and it just continues to answer questions I’ve had but didn’t quiet no how to ask.
Thanks again Michael.
#14 by Preston on September 11, 2009 - 11:19 am
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SSN, another oil play is shooting up with building volume. Just spudded (Broke Ground) a well.
#15 by Preston on September 11, 2009 - 11:54 am
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Have you seen the DVAX chart, looking nice.
#16 by Preston on September 11, 2009 - 11:58 am
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Looks like 2.20 would be a great level to get in, below of course, and if you wanted to wait a little longer 2.00 would be ideal.
#17 by john c on September 11, 2009 - 11:58 am
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TIV looks like it could go higher
#18 by Preston on September 11, 2009 - 12:11 pm
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TIV does have a good chart but seems over extended, but what do I know. Thought that the other day on OPXA.
AIME is one to watch Monday.
#19 by Reaper on September 11, 2009 - 12:50 pm
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Okay! I’m now officially going to Las Vegas!
#20 by tbohen on September 11, 2009 - 12:56 pm
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Damn straight mofo!!! Pay off your credit card before you leave, I plan on stretching that one round of drinks into 20!!
#21 by Reaper on September 11, 2009 - 12:57 pm
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You do realize I basically pledged a round of drinks for everyone … that could be 30 people or more! That is quite enough for me.
#22 by cwn6161 on September 11, 2009 - 12:57 pm
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For those of us not attending in real life – I demand a rain check on the drinks!!!
#23 by Reaper on September 11, 2009 - 1:04 pm
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No rain checks, no substitutions!
#24 by Preston on September 11, 2009 - 1:04 pm
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10/4 on the rain check.
Have fun guys wish I could make it in person but webcast should be ok too.
#25 by cwn6161 on September 11, 2009 - 1:17 pm
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Yeah Preston as far as I know its just you can me doing the webinar
#26 by cwn6161 on September 11, 2009 - 1:19 pm
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*You AND me.
#27 by Preston on September 11, 2009 - 2:21 pm
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Not much more downside in DVAX but the chart really looks nice.
#28 by Preston on September 11, 2009 - 2:31 pm
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DSCO could run higher, has a ton of volume and some resistance around the dollar mark that if broken could run.
#29 by Preston on September 11, 2009 - 3:13 pm
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The Oil and Gas sector is starting to take on new life, stocks everywhere are breaking out for no apparent reason.
I see why you don’t try to trade these on a regular basis, they really are unpredictable.
#30 by Mark on September 11, 2009 - 10:05 pm
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Type your comment here
: ) I know how this stuff works. I started reading Sykes’ blog in November of 2007. ; )
#31 by Preston on September 12, 2009 - 1:28 am
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Mark, that was just my take on the stock, it’s the only way I can learn.
The second part of that I was trying to help Robert, maybe a bad job but trying.
I can assure anyone that I am here to learn, I try to type what I think but I know sometimes it doesn’t come out right, I still have to work on that.
#32 by john c on September 12, 2009 - 1:43 am
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did anyone get in on TIV ?
#33 by Reaper on September 12, 2009 - 10:24 pm
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not I … was so busy blogging / emailing / etc Friday I had little time to trade.