Nothing exciting on watch. Seriously. This time I’m not just being lazy; I found no exciting setups.
LVCA has a nice breakout on Friday but I don’t play OTC BB breakouts. It is a pump (see the comments for details).
DYAI also a pump I think, on short watch, although I think it has another big up day in it. (Thanks to Preston for bringing it up in the comments below. I added it to the watchlist in response to his comments.)
Here is a chart of GSAE for posterity.
Disclosure: No positions. I have a disclosure policy.
#1 by Preston on October 4, 2009 - 6:37 pm
DYAI (OTC) has run up on no news, could be a good short.
FPBI looks intereting but the volume is low.
There are several stocks that had good moves Friday but the volume was very low, I don’t know if that’s because of the overall market Friday or what.
BIOF held above resistance Friday, could run higher.
LOCM could be a good short tomorrow on weakness, or a buy on strength.
#2 by Reaper on October 4, 2009 - 8:37 pm
LOCM had fake merger news last week, already broken out, and ADR not that big, so not interested.
DYAI fun to watch, if the spread is tight I’d play it — buy on strength short on weakness.
#3 by whizzler on October 4, 2009 - 7:35 pm
cmon reaps, how can u snub TRMS or SATC ? I got ‘em on my radar for Monday
#4 by Reaper on October 4, 2009 - 8:38 pm
SATC too much resistance.
#5 by Preston on October 4, 2009 - 7:52 pm
whiz, how would you play TRMS because it’s in a merger.
#6 by whizzler on October 4, 2009 - 8:23 pm
well, initially, i will eyeball this mofo from the bell. I would look to scalp an early morning shakedown on green/red.
#7 by Reaper on October 4, 2009 - 8:35 pm
Dude whizzler, it is a buyout, like Preston says (and for pointing it out, Preston wins back the duck). Look at the news. The thing shouldn’t move. It came up on my screen but I didn’t mention it because it is a buyout.
#8 by Reaper on October 4, 2009 - 8:34 pm
LVCA is a pump. Global Equity Report was paid $100k to pump it, I just got the email an hour ago.
We believe it’s our biggest mining play ever
Now we have told you how we feel about Gold, it looks like it is on its way to new highs. With the US printing money like there is no tomorrow, there is no place to go for Gold but up.
Now I want to tell you about a place where LVCA is mining. It’s about 25-30 miles away from an area called Bulyahula where Barrick Mining (ABX) has found proven gold reserves of over 20 million ounces. Take a look at Barrick, 7billion in revenue 30 billion dollar market cap. Now on this property, they are taking 550k ounces out per year at 1000 per ounce. Their cost is 560 per ounce. On this one property, they are making 250 million dollars per year in profits!!!
Why am I telling you this? Well as I said the property that Lake Victoria owns and is currently drilling on is a huge property with openings on both sides. Initial projections are over 21 million ounces of gold possibly coming out of the ground on this property.
Let me tell you what that could do for LVCA. The market cap is currently 68 million.
Let’s say that I am drop dead wrong and LVCA does not have 21 million ounces, they only have 1 million. That would equate to a profit for the company of approximately 550 million dollars and could put the stock well over 5 dollars per share.
Is it possible? Have you ever owned a mining company when they hit on a hole? I have and there is nothing like it!!
We expect results shortly on their latest tests and I would not be surprised if we had amazing news.
Now keep in mind that our last 2 mining alerts were CGCA (.49-1.98) & AMLM (.87-1.44)
We feel LVCA could be bigger than both, we are going to have more info soon, but do your D D as soon as possible and get ready for a buying frenzy on Monday!!
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#9 by nryder on October 4, 2009 - 9:06 pm
Stupid question from a newbie, and I have been reading through your site and signed up for sykes site and ordered the dvds (linked from you reaper so enjoy the referrals).
On LVCA I would assume that you could look to buy early and catch it on the rise, dump it for profit and then sell extra short if it is available? What would be the trigger that would make you buy on an anticipated breakout? (Like I said stupid question perhaps and if already answered elsewhere just point me to the post.) Thanks for patience and understanding
#10 by Reaper on October 4, 2009 - 9:09 pm
The first thing I would say is buying pump is dangerous! Only experienced traders should even try. The big trigger for me is buying when it is above the previous day’s close (green on day) or shorting when it goes red on the day. I try to avoid playing stocks that gap up or down a bunch.
#11 by Reaper on October 4, 2009 - 9:10 pm
Also, LVCA was already a nice breakout Friday. But the only question now is how good the pump will be. It could run a lot or a little or not at all.
#12 by Preston on October 4, 2009 - 9:18 pm
Yay for the duck.
LVCA could run much higher if the pump catches on, it’s chart looks good for a continued breakout.
Question; When dealing with pumps do the chart technicals still matter ( round number, support/resistance), or because of influences unknown does it blow the technicals out?
#13 by Reaper on October 4, 2009 - 9:19 pm
All that matters is the pump.
#14 by Tastylunch on October 4, 2009 - 9:27 pm
Preston
Last year I linked an academic paper on my blog that drew an extremely strong correlation between the end of the publication of the Pumped material and the stock tanking.
Basically once the pump stops the stock crashes within 2-3 days, charts be d@mned.
#15 by nryder on October 4, 2009 - 9:19 pm
I did see the breakout on Friday’s chart, just trying to figure out this in a relatively pain free way. Also unfortunately for now I am somewhat limited by being a Schwab client (I know they suck) but the transfer process is not complete yet, so shorting anything that is not abundantly available is tough.
Thanks for the insight and I will try and ensure that I keep my spelling accurate as I interact on the site, as I saw on one your posts that it is a pet peeve of yours.
#16 by Reaper on October 4, 2009 - 9:21 pm
Ha! Don’t sweat it too much … I won’t bite your head off. But misspellings can lead to a loss of the duck.
#17 by Tastylunch on October 4, 2009 - 9:20 pm
CMIN.OB had both it’s CEO and President both suddenly resign
but its already tanked
http://incakolanews.blogspot.com/2009/10/constitution-mining-cminob-this-is-of.html
Sometimes the best plays are the ones you don’t make. It does seem like the best traders know when not to trade as well as what to trade.
if you want some reading to add to your plethora of info on why retail trading is tough if you are not trading tmr..
http://ftalphaville.ft.com/blog/2009/09/30/74846/why-day-traders-will-never-win-chicago-pmi-edition/
In any event enjoy your day off Reaper!
#18 by Preston on October 4, 2009 - 9:22 pm
That comment was after several comments had already came out. I walked away from my computer for a few minutes and didn’t refresh my screen.
#19 by Reaper on October 4, 2009 - 9:23 pm
Lack of refreshing leads inevitably to loss of the duck! Bad Preston!
#20 by Reaper on October 4, 2009 - 9:25 pm
Random unsubstantiated rumor — Beacon to pump TPIV tomorrow. Just putting it here for reference.
#21 by Reaper on October 4, 2009 - 9:32 pm
Beacon sub-sites such as Micro Stock profit already profiled TPIV.
#22 by nryder on October 4, 2009 - 9:31 pm
Duck??? Must not have read that post yet.
#23 by Reaper on October 4, 2009 - 9:33 pm
Hmm, the duck is metaphorical, although anyone who holds the duck for a week can call me on it and I will send them a rubber duck in the mail. It is ‘given’ to those who show great prowess in trading or great insight. I will add info on it to the FAQ.
#24 by Reaper on October 4, 2009 - 9:34 pm
Okay, time for me to stop wasting time and hit the hay.
#25 by Preston on October 4, 2009 - 9:34 pm
I have no excuse.
TPIV could run nicely if it’s a good pump, there is a little resistance ahead and their volume is very low.
#26 by Preston on October 5, 2009 - 7:13 am
INO has news about a vaccine. Resistance in the 2.20′s, pre-market leader.
#27 by Preston on October 5, 2009 - 7:32 am
VG, AVII both have choppy charts but they are trying to break out this morning. VG has news, I can’t find anything on AVII yet
#28 by Preston on October 5, 2009 - 8:07 am
PPHM pre-market leader, TRID pre-market leader.
#29 by Reaper on October 5, 2009 - 9:10 am
PIP the only pre-leader I see looking to break out on a longer-term chart, and that hasn’t had much volume.