Friday was a brutal day in the market: only 22 stocks met my 8% gainer with volume scan. Still, there are a few that look nice as longs. Nothing looks ideal to me to short.
AHC – Newspaper company near a nice breakout , hit a 52-week high on Friday. Could be nice on green. All newspaper companies are overextended IMHO, so I would be careful.
TNUS – Yay for pump & dumps. I like this as a long on green, but as always I would never recommend that anyone buy a pump & dump. They can collapse quickly. Short would be better, but I cannot find shares. ALFSS.
NANO – $9 would be a nice breakout, preferably after a couple days of consolidation.
TSYS – $9.05 would be a nice breakout, although resistance from back in May.
KSP – Can you say bounce? This would be a nice play on green to move back towards the gap at $17.
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 Preston on November 1, 2009 - 7:43 pm
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REV will be a great short on a morning bounce and a decent short on red, AMTD had shares Friday but I never went through with the order.
#2 by Alex-Argentina on November 2, 2009 - 9:08 am
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HGSI
#3 by trivto57 on November 2, 2009 - 9:25 am
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got spam e-mail for NTMI coolpennystocks. don’t know their reputation among pennystockers (their pump ability, not their legitimacy :p )
#4 by Preston on November 2, 2009 - 9:42 am
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AMLN has news and looks like CNBC talked about them as well. Chart is ugly though.
#5 by Reaper on November 2, 2009 - 9:50 am
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pre so far: HGSI EAC AEN KOPN GNBT TRA VRTX DDSS up 9%+
#6 by Reaper on November 2, 2009 - 9:51 am
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EAC in pre a buyout @ $50/share
#7 by Reaper on November 2, 2009 - 9:53 am
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HGSI phase 2 drug trial, new 52 week highs.
#8 by Preston on November 2, 2009 - 10:38 am
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Well I tried REV short after it broke 9 but AMTD has no shares now, that was a good play.
#9 by Reaper on November 2, 2009 - 10:47 am
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TNUS tanking … a good example of why I don’t recommend buying pump & dumps. I could not find shares to short. I did make $3.70 by going long it today.
#10 by trivto57 on November 2, 2009 - 10:50 am
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I am in TNUS right now, got in early today to test it again and wanted to dump at like 1.25ish when it was going sideways.
I have two market orders transmitted on ARCA and SMART and it wont let me out, now down 13%. pretty sick at least i have a small position.
currently calling IB.
never knew this could be a problem.
#11 by trivto57 on November 2, 2009 - 10:57 am
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got filled at .98. does anyone know if I can do anything about this? I’ve listened to two customer service reps and on hold… one lady’s explanation is that its OTCBB and it doesn’t trade like a regular exchange. i havent this problem on issues that traded 50k in volume, let alone 2.5 million
#12 by Preston on November 2, 2009 - 10:58 am
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I hope you took a small position
#13 by trivto57 on November 2, 2009 - 11:12 am
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I only had 500 shares. not going to dip too far in these things until I get good feedback that my trading is effective.
customer rep claims “large orders were ahead of me” and I can get traded through legally. sick. now I am somewhat spooked about trading OTCBBs.
#14 by Preston on November 2, 2009 - 11:04 am
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CTDC above 5 might be good, not sure if it will get there though. Still on low volume
#15 by Preston on November 2, 2009 - 11:10 am
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TSYS could pick up steam, breaking above resistance.
#16 by Reaper on November 2, 2009 - 11:13 am
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trivto – that is normal for OTCBB stocks when they move quickly. If you watched my video of my trade of TNUS last Friday you would have seen that.
Glad that you had a small position at least.
#17 by trivto57 on November 2, 2009 - 11:51 am
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Well, an hour after the fact and I’m really not even angry, just shocked – its like having a bullet graze you.
I was aware of execution problems but never realized the magnitude and depth of the problem. Now I understand the risk of this strategy and why you so often reiterate its difficulties. I am making the effort to get familiar with the auction process on the OTCBB/pink sheets right now.
#18 by Preston on November 2, 2009 - 11:59 am
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GRZ breaking out.
#19 by Reaper on November 2, 2009 - 12:07 pm
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WEDC an example of something that would’ve been a halfway decent fat-fingered short. Too quick for me.
#20 by Preston on November 2, 2009 - 12:11 pm
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wow, yeah I see what you mean.
REV was a nice bounce play, never seen that coming. I think I still would’ve been fine with my short, though sometimes I do hold to long and might have got burned.
#21 by Preston on November 2, 2009 - 12:46 pm
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QXM about to be a mojor breakout, volume still low.
#22 by Reaper on November 2, 2009 - 12:47 pm
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yeah, but I wouldn’t hop on it here; overextended today IMHO.
#23 by TheHawk on November 2, 2009 - 12:46 pm
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Anyone watching QXM?
#24 by Preston on November 2, 2009 - 12:49 pm
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Yeah, I got side tracked, started watching in the 3.60 range and just noticed it was going much higher.
AMTD has no shares to short right now, maybe later.
#25 by qbantek on November 2, 2009 - 12:58 pm
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@Renton: QXM had good Second Quarter 2009 Financial Results. Why would you short QXM ? Because you think it’s overbought at this point?
#26 by qbantek on November 2, 2009 - 1:01 pm
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sorry, I meant @Preston
#27 by Preston on November 2, 2009 - 1:02 pm
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Oh no qb, just checking my options for plays today, I do short big momo plays though when they break HOD.
I will surely be careful talking about that in the furure. I never even read the news because it might influence my entry and exit. Pure price action play, anyways I like to see closer to 750k or 1mil shares traded on the day with the volume fading.
#28 by qbantek on November 2, 2009 - 1:07 pm
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thanks.
volume is way over the average today
#29 by Preston on November 2, 2009 - 1:12 pm
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If you look at REV 2 year chart they had some important resistance at the 9.00 mark, and a gap till 11 or so. This could still be a good buy.
#30 by TheHawk on November 2, 2009 - 1:20 pm
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QXM is treading water in the 3.9′s, but there’s way more volume in the Buy’s.
#31 by Preston on November 2, 2009 - 1:28 pm
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HBIO a breakout above 4.30 or so, still low volume so it could run.
#32 by Preston on November 2, 2009 - 1:33 pm
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Damn, IUSA just broke above res.
#33 by Reaper on November 2, 2009 - 1:55 pm
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IUSA nice; mkt scares me a little though with that quick drop.
#34 by Reaper on November 2, 2009 - 1:55 pm
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