SSN – long on strength, huge volume Friday, no news.
AMIE – up on debt restructuring, long on strength.
TIV – filed amended annual report Friday, long on strength.
CNWI – crappy pump, IB had shares Friday, short on weakness, too risky to buy now.
VRMLQ – the Q means it is bankrupt. So why then skyrocket 2400% Friday on news? This is a crazy stock and I’ll avoid it.
INHX – still short-biased on weakness.
Probably the most interesting of the above to me are TIV as a long and INHX as a short.
Disclosure: No positions. I have a disclosure policy.
#1 by Reaper on September 13, 2009 - 9:18 pm
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Any thoughts on where to get together Saturday October 17th for the pre-pennystocking gabfest and much-anticipated Reaper vs. tbohen arm-wrassling match? I nominate Dick’s Last Resort: http://lasvegas.dickslastresort.com/index.php
Why? It’s got some food, drinks, and is in the hotel I’m staying in (the Excalibur). 8:45pm local time is the suggested meeting time (that way I can be there!). If this sounds good (or bad), let me know.
#2 by cwn6161 on September 13, 2009 - 10:50 pm
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I thought you had problems with your wrists or hands!
I’m staying at the the Excalibur as well, however I don’t think my flight comes in until 8:30 on Saturday night. I’ll double check my sched later and let you know.
#3 by Preston on September 13, 2009 - 9:40 pm
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blah, damnit I wish I could commit to the trip instead of the webinar.
Anyway, your watchlist looks good and I have SSN and AIME on mine as well.
#4 by Robert on September 13, 2009 - 10:28 pm
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I’m still trying to understand going long on strength. Are we talking red/green? Or just because these have the possibility of breaking out even further. I’ve gotten burned a couple of times on these because some of the mornings seem hectic… What is everyone looking for before they head in?
#5 by Reaper on September 14, 2009 - 10:13 am
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red/green, or making a new high during the day after consolidation, or a round number cross. There are different ways you can play these when there is no clear technical resistance level in play.
#6 by tina on September 13, 2009 - 11:25 pm
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how do find the stocks?
#7 by Preston on September 14, 2009 - 8:20 am
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DSCO showing some strength this morning.
#8 by Evan on September 14, 2009 - 10:11 am
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Talk about VRMLQ being a CrAzY stock. price action today is utterly ridiculous!!!
#9 by tbohen on September 14, 2009 - 10:37 am
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Pfft that wrist/hand problem was all an elaborate ruse!!!
Reaper had his hands surgically replaced with titanium robotic hands in order to shave 0.000000000001 seconds off of his trade execution time! High frequency trading ain’t got shit on him!!!
The reason he was forced to move the backwoods of Michigan’s Upper Peninsula was due to the fact that the US govt considers his hands WMD’s!!
And his previous residence was too close in proximity to Chuck Norris’s home, and if the two happened to meet on the street and shake hands the union of those two hands would cause the universe to implode!
But even taking that into consideration I have 100% confidence that I will be victorious at Dicks last resort!!
#10 by Reaper on September 14, 2009 - 11:26 am
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You, sir, are truly whack.
#11 by Preston on September 14, 2009 - 11:10 am
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lmao tbohen.
#12 by Reaper on September 14, 2009 - 11:25 am
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Yeah I do but it is a repetitive stress injury … as long as Tim Bohen doesn’t break my wrist it won’t hurt me much.
#13 by cwn6161 on September 14, 2009 - 11:56 am
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Assuming we get to Vegas on time around 8:30, I should be able to make it just a little late.
#14 by john c on September 14, 2009 - 12:43 pm
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how do u guys feel on Tim’s latest alert? I think he got in too early… afternoons by 1:30 tend to be short squeezes…
#15 by Reaper on September 14, 2009 - 12:45 pm
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If you’re talking about the pure pump & dump (I won’t mention the ticker out of respect to Tim), of course he is early. Ideally he would wait until the first down day or sideways price action. However, no shares would have been available then, so he had to short too early.
#16 by Joe on September 14, 2009 - 12:57 pm
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RE: the Chuck Norris comment – classic!
RE: Tims trade – I was wondering that myself – did not think about the fact of not having shares available – I am trading oposit this trade (not short – hoping for one more bump up) — we will see later if this was brilliant or stupid.
RE: Vegas – anyplace is fine with me – just let me know – Still trying to decide between flying and driving – might drive then head out to CA to meet a new client in person since I that would put me semi close. Always nice to try to get a face to face with a remote client at least once (I am a software developer)
–Good luck on the day to everybody.
#17 by Preston on September 14, 2009 - 1:18 pm
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ZOOM is zooming now, bounced off of resistance at 7 or so and took off.
#18 by Preston on September 14, 2009 - 1:19 pm
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Replace *resistance with *support.
#19 by Reaper on September 14, 2009 - 1:50 pm
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CNWI red on day but no shares @ IB.
#20 by Preston on September 14, 2009 - 1:58 pm
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ZOOM is like OPXA last week, just will not stop.
#21 by john c on September 14, 2009 - 1:58 pm
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its the next OPXA… and its only been a week since OPXA
#22 by cwn6161 on September 14, 2009 - 2:11 pm
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I don’t want a stock to be like OPXA, lol
#23 by Joe on September 14, 2009 - 2:34 pm
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If I am looking at this right, would ZOOM be a canidate to short? I called my broker out of curiosity but they had no shares available to short. I am new to the whole shorting thing so watching things closely in order to learn.
I don’t see news good enough to have zoom zoom like it is, was there a pump that went out, or did I just miss the news?
–MostlyLucid
#24 by Reaper on September 14, 2009 - 2:37 pm
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look at ZOOM’s float … these low float stocks can run big but there usually aren’t shares available to short when they fall. No ZOOM @ IB either.
#25 by Cory on September 14, 2009 - 2:58 pm
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I’m new here as well, and am trying to learn a bit.
As for ZOOM, it looks like most of the news out today is centering around Gold Lion Holdings, an acquisition of theirs, which is up 354% from last year. Isn’t it risky to short stocks that are up on released financial results?
#26 by Ryan Yates on September 14, 2009 - 7:37 pm
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Reaper, when a company goes through bankruptcy proceedings, shareholders aren’t necessarily wiped out–just the vast majority of the time. The drug news on VRMLQ obviously gives some people hope that sh/h’s won’t be wiped out this time.
Check out risk/reward on SVA, which is tighening up. Get long around 9.4 or low 9.5′s. Exit below 9.3. Hold winner ideally through new highs, but of course if the tape tells me otherwise, I will get out before that. Shorting is riskier, as the risk at the time of this writing is to 10.2 or so; but if you’re fast enough to get out if the volume doesn’t pick up immediately, the short is also a worthwhile trade.
#27 by Reaper on September 14, 2009 - 9:09 pm
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Ryan – I stated as much about bankrupt companies in he video. That being said, I can’t remember a time shareholders got anything when a stock traded at $0.03. Calpine is the last company I remember, back in 2007 maybe, that emerged from BK without wipeing out shareholders.
SVA not anything I’d play here.