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Lots of mining and other commodity-tied stocks near beautiful breakouts, but I’ll stay away from them.
COT – A nice breakout, although the stock has a small ADR and it is a crowded trade.
BHWX – Promoted crap, not up enough to interest me in shorting it.
MOSY – Nice breakout above $2.75 today, no clear play tomorrow, lower volume.
QXM – Nice breakout, but a bit overextended in my opinion. Long on green/short on red, higher risk either way.
RTK – Anyone remember how I messed this up? It is nice to see it has finally come most of the way back down. No play now.
ECPG – Interesting chart, would be a nice breakout on $17.
YRCW & GTXI – Potential bounces, no longer good risk/reward shorting on red (today they were good!). Long on green.
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 Reaper on November 3, 2009 - 9:06 pm
Time to go old school:
I’ll be working on editing my DVD during trading hours for the next couple weeks so anticipate me making few trades.
#2 by stkonlinetrader on November 3, 2009 - 9:30 pm
very good watchlist…most of them match with my watchlist…
any reason for going long YRCW and GTXI ? why touch crappy stocks for a possible bounce…?
#3 by Reaper on November 4, 2009 - 9:13 am
The faster and further something falls the more likely it will bounce hard. I don’t care if it is a good company or not.
#4 by Luis023 on November 3, 2009 - 9:56 pm
have u checked HEB.ob? I covered my shorts today but still potential short for tomorrow, another overbought stock that I dont see the point of the bullish.
#5 by Preston on November 4, 2009 - 8:03 am
GNVC premarket leader, above resistance in pre.
#6 by fisteduc on November 4, 2009 - 8:11 am
Preston
Shorting GNVC?
#7 by Preston on November 4, 2009 - 8:32 am
No, pre-market leader. Find the pre-market leaders in this blog under pre-market leaders to know how to play them.
Basically buying early and riding momo’s up.
#8 by Preston on November 4, 2009 - 8:37 am
ACAS, IRE, PACR, RDN pre-markets so far. Best chart is GNVC but it has a small ADR.
#9 by Preston on November 4, 2009 - 8:39 am
It’s under pre-leader longs, there is some great information in those older blogs.
#10 by trivto57 on November 4, 2009 - 9:15 am
Preston: GAP still on your radar? since you and another poster were talking about it yesterday, I like it as a potential dbl top/bitter shareholders sorta short.
#11 by Reaper on November 4, 2009 - 9:16 am
TPGI in pre could be nice bouncer to fill gap.
ENMD printed above resistance of .95
#12 by Preston on November 4, 2009 - 9:21 am
GAP should make a good short after the first down red day I think, until then just watching. Beautiful 4 day gainer though.
#13 by mudhole on November 4, 2009 - 9:26 am
Make some serious dollas wit IVOT doggs
#14 by Reaper on November 4, 2009 - 9:44 am
Tried to buy GCHT from 3.05 to 3.10 but didn’t get filled. Arggh.
#15 by trivto57 on November 4, 2009 - 9:44 am
Was there an Timalert about [an] exit [from his current position]? Or was it yesterday? Not going to subscribe to alerts until post-black Friday probably – maybe I’ll get a discount
Weak open despite a green market. Got out within 2 mins.
#16 by Reaper on November 4, 2009 - 9:48 am
Sorry Trivto – you got censored (my censoring is in brackets). I generally try to avoid talking about Tim’s alerts until after he posts about them on his free site. No point in me antagonizing the man; also, giving people that kind of proprietary information is a bit unethical.
While you mentioning it here may not matter, it is a slippery slope to copying his alerts into a chatroom so tons of people can benefit from the leaked information.
#17 by Reaper on November 4, 2009 - 9:49 am
And while Tim does have sales on his DVDs from time to time he has not had a sale on TimAlerts in a long time and I don’t think he will.
#18 by trivto57 on November 4, 2009 - 9:53 am
my bad, man. It seemed like you guys were talking it about liberally on your trade recap post. I’ll refrain.
#19 by Preston on November 4, 2009 - 9:56 am
Yeah, I can only see that service going up in price.
#20 by Reaper on November 4, 2009 - 9:57 am
Yeah, trivito, there is that. Like I said, I generally try to avoid that. Of course, I definitely will talk about my trades, but I will usually avoid explaining the catalyst if Tim is still in a trade. Yesterday everybody commented and there wasn’t much I could do other than delete all the comments. And considering that it was a liquid stock I wasn’t going to worry about it. Plus, there are plenty of people who do post soon after a TimAlert in various places (like the IU chat room and certain message boards).
#21 by tbohen on November 4, 2009 - 10:16 am
Thats why i was a good boy yesterday and only mentioned a vague “catalyst” on COT
#22 by Reaper on November 4, 2009 - 9:58 am
Gah missed ENMD … almost bought at .98 and 1.00
#23 by Reaper on November 4, 2009 - 9:59 am
also, tried to buy GCHT from 3.05 to 3.10 but didn’t get filled. Arggh. Not as good risk/reward here. That is pumped.
#24 by Preston on November 4, 2009 - 10:07 am
Damn, ENMD nice breakout, maybe not done for the day.
#25 by Preston on November 4, 2009 - 10:09 am
VICR on watch for breakout.
#26 by Michael23 on November 4, 2009 - 10:21 am
Hi Reaper,
I’ve been reading your site for a few weeks now and I wanted to thank you very much for all the great info.
I have a question as well: On your list today, you mentioned QXM as a long on green. I thus went in at 4.64 soon after the open.
Ten minutes later, though, it had dropped to below the day’s open so I got out. Obviously now it’s significantly higher.
What would you advise in such a situation? Was 1 cent below the open a bad stop point?
Thanks very much,
Michael
#27 by Reaper on November 4, 2009 - 10:28 am
1 cent is an awfully tight stop. Also, considering QXM gapped up a bit that makes matters harder. Ideally when I say “long on green” I want the stock to open red or even and then cross over to go green on the day. If it gaps it is harder to decide what to do and I will usually just avoid those.
#28 by SkepticalOx on November 4, 2009 - 10:24 am
QXM just keeps on running. 3-days straight.
#29 by Brad on November 4, 2009 - 10:25 am
Yeah, it could be my short of the year if it shows proper price action. I’m watching it closely.
#30 by Reaper on November 4, 2009 - 10:29 am
Wow you have low standards for “short of the year”
My short of the year is ALAN … EMGE and GVBP and GAEC were all pretty charts too.
#31 by trivto57 on November 4, 2009 - 10:41 am
Reaper,
When you received “force buy-ins” for long-term shorts, what was the explanation behind that? It is different from a margin-call I presume?
I am tempted to short AWSL for a small position while it is available, holding it for multiple days.
#32 by Reaper on November 4, 2009 - 10:43 am
A forced buy-in means they no longer have the shares to lend for your short position so you have to cover. It can happen any time and is not predictable. There is no risk or almost no risk if you only short for a few days.
#33 by Michael23 on November 4, 2009 - 10:43 am
Type your comment here
That makes sense – thanks!
#34 by fisteduc on November 4, 2009 - 10:57 am
.07 Stop on COT
#35 by Reaper on November 4, 2009 - 10:58 am
Thought about buying YRCW at 1.30 and 1.31 but didn’t. Oh well.
#36 by fisteduc on November 4, 2009 - 11:12 am
Bought 300 shares of ECPG @ 6.85
#37 by trivto57 on November 4, 2009 - 11:21 am
PFAP with new 52-wk high
#38 by Brad on November 4, 2009 - 11:21 am
Well since sogo won’t let me trade pinks, and I missed NTXH. So yeah, I’ll call it my short of the year thus far. haha. As my roomate John from college once told me, “the key to happiness is lowering your standards.” Of course he was talking about women. I still find it applicable.
#39 by Preston on November 4, 2009 - 11:25 am
PACR breaking resistance
#40 by stkonlinetrader on November 4, 2009 - 11:35 am
PFAP looks interesting…wondering how the moving to AMEX news work out…
#41 by Preston on November 4, 2009 - 12:03 pm
PACR looks to be consolidating, may not be done yet.
#42 by Preston on November 4, 2009 - 12:55 pm
stk, REV is looking good for short now, if it breaks 10.50 it has no more support till the low 9′s. Maybe a little early yet but on watch for sure.
#43 by Reaper on November 4, 2009 - 2:44 pm
SNIC looking nice … 6.60 is b/o point.
#44 by Reaper on November 4, 2009 - 2:46 pm
SNIC I think has earnings coming out later this week.
#45 by johnc on November 4, 2009 - 2:45 pm
Swing trade… buy today though… Support at $3 on VVTV. get out at $3.75.
Based on basic technical analysis the DOW should continue upwards. Still hasnt broke any strong indicators like the Short and Long upward trend. Short meaning the last 2 months or so, long trend meaning since March lows. Also a support line at 9,700.
Check it out click my name and you’ll see what i’m talking about.
#46 by Reaper on November 4, 2009 - 2:58 pm
SNIC reporting earnings tomorrow after mkt close … may be worth a trade overnight; I’m long 800 shares from 6.635
#47 by Michael23 on November 4, 2009 - 3:08 pm
I’m long as well, from 6.62 – what’s your stop. Reaper?
#48 by Preston on November 4, 2009 - 3:00 pm
Damn nice call on SNIC, I missed that one.
#49 by Preston on November 4, 2009 - 3:06 pm
Im in 900 shares at 6.75, got a horrible fill and had to replace several times. I like this trade though.
#50 by Reaper on November 4, 2009 - 3:07 pm
Not sure on how good of a risk/reward it is at that price.
#51 by Preston on November 4, 2009 - 3:07 pm
So many plays have been going up on earnings speculation, I was trying to find one to go with.
#52 by Preston on November 4, 2009 - 3:08 pm
Come on buddy, where is your confidence….. I will be okay. I’ve been wanting to get on a momo play.
#53 by Reaper on November 4, 2009 - 3:09 pm
Michael – Now I’m using a break-even mental stop loss. I like to use those once I’m up a bit on a position.
#54 by Michael23 on November 4, 2009 - 3:12 pm
Sounds good – thanks!
#55 by Preston on November 4, 2009 - 3:28 pm
I’m only mad now because I chased, I no better than that. I should have left my limit order alone and if it left me so what. Getting caught up in the moment again, I really do no better than that.
#56 by Reaper on November 4, 2009 - 3:29 pm
hopefully you “know” better than that too.
it was overextended; the breakout started when it broke its hod at 6.50
#57 by trivto57 on November 4, 2009 - 3:30 pm
ECPG making HOD and on pace to close strong.
#58 by Reaper on November 4, 2009 - 3:31 pm
ha! if I didn’t suck at and hate buying, I might buy that. But one annoying breakout play is enough for me.
#59 by Preston on November 4, 2009 - 3:32 pm
LMAO, I can’t even spell I’m so upset over it. I got in at my short entry spot. How stupid!!!
#60 by Reaper on November 4, 2009 - 3:34 pm
out SNIC +$0.12
#61 by Preston on November 4, 2009 - 3:36 pm
Ok I’m out for a whopping 1% loss. Look on the bright side, trading like that will help me learn to cut losses quickly.
#62 by Reaper on November 4, 2009 - 3:37 pm
A 1% loss is acceptable 99% of the time.
#63 by qbantek on November 4, 2009 - 3:47 pm
GT at support one more time
#64 by Preston on November 4, 2009 - 3:51 pm
REV looks good for a morning panick after closing red on the day. AMTD has shares right now, I’ve been checking all day.