AMLM’s tank today and NXTH’s tank yesterday are good examples of why you should keep pump and dumps on watch every day. I had featured both of those on watchlists but didn’t put them back up every day. I assume that my readers will keep track of those stocks that remain in play.
QTM – No play now, up on earnings from last Tuesday evening.
NNVC – Crappy company on 50% spike at resistance? Do you have to ask? Short on red. Had a positive press release Monday morning but the stock didn’t spike until Wednesday.
NXTH – Nice bounce, short on red.
Music to short to: Ladysmith Black Mambazo, The Moon is Walking
Disclosure: No positions in any stocks mentioned in this post. I have a disclosure policy and you can find all my disclaimers there as well; those disclosure & disclaimers are incorporated by reference into this post.
#1 by John C on October 28, 2009 - 11:25 pm
GTN and MESA… about to crack support of the last couple of months.
#2 by Reaper on October 29, 2009 - 8:26 am
MESA too cheap. GTN might be worth a short on red. But recently it has been highly correlated with the market, so not ideal.
#3 by Preston on October 29, 2009 - 6:06 am
GTN looks ready to bounce, way late on shorting that one IMHO.
MESA looks the same.
john, tell me the truth, did you really look at these charts?
#4 by John C on October 29, 2009 - 7:15 am
certainly did… i think its bout time they break through their support line…. not bounce… CAR and USEG for example, IMGG, possibly also ready to crack…
Zoom out 3 months then you’ll see what i mean. GTN is up from.46 since August
i understand you think they are in a sideways pattern but i think we’re directing attention in a downward market than anything, and that’ll drop all of these high floaters. XJT might possibly bounce as its got the support line and 50SMA. XJT could also crack $3
I’ll watch them instead now because you questioned it. thanks for warning and i cant wait to see what they do.
#5 by Preston on October 29, 2009 - 8:03 am
I’m watching as well, thanks for explaining your position. After I wrote the comment I started thinking general market direction, which I have not done in some time and they may affect them.
I can see USEG falling to 4.00 easily, but it’s down so much already. I guess I’m not very good at looking at these type of plays.
I will certainly follow along though.
#6 by Reaper on October 29, 2009 - 8:24 am
pre so far: tstr roiak rprx aixg cycc amsc rbs nothing with a great chart.
#7 by Preston on October 29, 2009 - 8:39 am
CYCC tried yesterday and could not do anything.
Agreed there are no great charts.
#8 by Preston on October 29, 2009 - 9:24 am
I really have no idea how that happened. I have another monitor hooked up to my laptop with several screens open, I must have hit send by mistake.
Delete it if you can.
#9 by Preston on October 29, 2009 - 10:19 am
wow, there is a ton of action today.
#10 by Jamal Chahboune on October 29, 2009 - 10:26 am
Yo reapness,
I was thinking how we like to trade green/red, red/green as breakouts or breakdowns but have you considered using it as a bounce trade? For instance, if a stock goes down and then bounces of the green/red pivot you could buy it and get a squeeze hopefully. Alternatively, if a stock rallies to its red/green but bounces you could short it. What do you think?
#11 by Reaper on October 29, 2009 - 11:17 am
that would make sense. You could try it and see how it works for you.
#12 by Preston on October 29, 2009 - 10:30 am
HS has a nice breakout going, may be to late though.
#13 by Preston on October 29, 2009 - 11:11 am
I find it hard to believe that AMTD has no shares of REV to short.
#14 by Preston on October 29, 2009 - 11:27 am
RGTX, possible FFS, low volume though.
#15 by Reaper on October 29, 2009 - 11:38 am
No duck for you! A fat-fingered trade by its very definition (and I’m not the one to make that definition) is a sudden accidental trade. For one of those to create a spike I’d want to short (a potential fat-fingered short) it would have to spike 30%+ (really, 50% plus) in under a minute; for low-priced stocks under $1 I wouldn’t short unless it spiked 100%+. RGTX is going up, but not that much, and not on huge volume.
#16 by Reaper on October 29, 2009 - 11:48 am
RGTX also a penny stock chaser pump
#17 by Preston on October 29, 2009 - 12:04 pm
I hate being duckless, but I will not quit trying to find trades for fear of losing the duck.
#18 by Preston on October 29, 2009 - 12:06 pm
CHeck out AMVGF, 326,000 order, damn.
#19 by John C on October 29, 2009 - 12:37 pm
USEG has resistance at 5.70. been holding for awhile.
CTDC is trying to be manipulated up. someone keeps placing Buy orders above the current asking price.
#20 by Brad on October 29, 2009 - 2:25 pm
Reaper,
Are you still contending that NNVC is a good short, it’s red on the day but has traded sideways since late morning. I’m considering a short and hold play, as the S&P is up 180 bps and this can’t go green on the day. Thanks.
#21 by Reaper on October 29, 2009 - 3:00 pm
Here, now, I have no clue. I don’t have shares available so I won’t worry! Odds were always against this being a great short: it is too cheap and it has only spiked one day and its volume isn’t very high.
#22 by Steven on October 29, 2009 - 2:49 pm
Ashraf Iqbal continues to buy TIXC.
http://simpletrader.wordpress.com/
#23 by Reaper on October 29, 2009 - 2:59 pm
Hasn’t he been buying since the shares were at $8? I don’t pay attention to TIXC anymore.
#24 by Steven on October 29, 2009 - 3:32 pm
http://sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001379401&type=&dateb=&owner=include&start=80&count=40
Not sure about 8s. According to his filings he has bought near 5$ in 2008. Not as many as he has been doing now. He has been putting in a few millions in recent months. Also Tixc is executing well. Revenues growing and they have a small buyback. TIXC typically moves up after 3pm.
#25 by Steven on October 29, 2009 - 3:34 pm
That said, I have not been able to find much details on Ashraf Iqbal.
#26 by Steven on October 29, 2009 - 3:45 pm
Type your comment here
http://biz.yahoo.com/t/15/7247.html
Higgest purchases near 5$