SNSS – Top watch, heavily short-biased. Hopefully you are familiar with this stock after its crazy moves the last couple days.
SNSS 2-day chart
NVLT – Nice breakout chart, too bad it is an OTC BB stock.
CYCC – Like a mini-SNSS, it too moved a couple days after its good drug-related news. Short on red, but not a ton of downside.
NEP – Nice breakout, decent volume, but it is an oil stock. Could still be decent on green.
EVC – Another beautiful breakout, but with plenty of longer-term resistance around $3 to $3.50.
AA – A chart similar to EVC. This of course is Alcoa, and considering it is a big, real company, I won’t be too interested in trading it.
LCC, UAUA, AMR – All these airlines spiked Friday.
Disclosure: No positions in anything 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 vset on December 13, 2009 - 6:09 pm
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Hi,
why don’t you trader OTC BB stocks?
Do you ignore them?
Thanks and have a great week!
#2 by Reaper on December 13, 2009 - 6:17 pm
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I don’t always ignore them. But they are often manipulated, so they do not trade like Nasdaq stocks. I do like shorting OTC pump & dumps, though.
#3 by vset on December 13, 2009 - 6:13 pm
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REAPER,
EVC is a carcass company?
What does define a bad pennystock company, those you want to short ?
Thank you.
#4 by Reaper on December 13, 2009 - 6:17 pm
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Not necessarily. But if the company is too big and its stock too liquid, I would be competing against all sorts of hedge funds and other experienced traders. By sticking to more speculative companies I ensure that my competition isn’t as tough.
#5 by Preston on December 13, 2009 - 8:01 pm
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CBK up on earnings but has resistance ahead, look for further strength and possible b/o. It could get noticed and with a volume/price spike look for a short set up.
I’m still short 850 CYCC, maybe a morning panic sell off for me to cover into.
HPJ has a nice chart, not sure if there is a play there.
HRLY, crappy volume with possible b/o chart.
#6 by Preston on December 13, 2009 - 8:35 pm
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LCC had massive volume Friday, long on green.
HUSA, crappy volume but an awesome chart, long on green with volume spike.
HPJ, nice chart with decent volume, long on green.
DAL fits in with your airline stocks, awesome chart with massive volume.
#7 by Preston on December 13, 2009 - 8:37 pm
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Oops, HPJ mentioned twice because I have it on two different watchlist.
#8 by vset on December 14, 2009 - 3:44 am
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Hi PRESTON,
Do you have any blog ?
Thanks!
#9 by Preston on December 14, 2009 - 8:52 am
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No vset, did john put you up to this? That’s a joke.
#10 by Reaper on December 14, 2009 - 8:53 am
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CYCC a good example of why it is dangerous to remain short overnight stocks that are still up big on the day.
#11 by Preston on December 14, 2009 - 8:54 am
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I follow reaper and will continue to until he bans me or gets tired of my comments.
#12 by Reaper on December 14, 2009 - 9:20 am
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LOL … no more banning just because someone annoys me.
#13 by Preston on December 14, 2009 - 8:58 am
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Yep, I’m going to get burned on this one, trying to figure out now what to do. I am not going to panic and sell into the top before a pullback. This is going to be a losing trade and a good lesson learned.
I will say that holding in different circumstances, like when I’m in the money and the volume has faded nicely, but that’s a different situation than what I have here,.
#14 by tbohen on December 14, 2009 - 9:34 am
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Wow everything green on my screen, guess I’ll check you sucka’s out this afternoon….
#15 by Preston on December 14, 2009 - 10:30 am
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Well, CYCC is acting ok and I will wait to cover a little later. I didn’t panic tihs morning and watched the price action. I do not think I will make anything on this but I do think that I can salvage it for a small loss.
#16 by Yngvai on December 14, 2009 - 10:31 am
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SNSS looking weak today but has been a bit stubborn around 2
#17 by qbantek on December 14, 2009 - 11:30 am
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They activated my Sogo-elite account and the platform looks like it was made in 1985… Even worse than the web platform from regular Sogotrade (or maybe I was already used to it)
Reaper: Do you have any Sogoelite tricks / hints you care to share?
#18 by Reaper on December 14, 2009 - 11:43 am
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No. I’ll email you my layout file, though. That might help.
#19 by MarketMonk on December 14, 2009 - 11:59 am
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How is TOS for shorting OTC BB stocks? Are borrows easy or hard to come by?
Tradestation is not made for BB and penny stocks.
#20 by Reaper on December 14, 2009 - 12:08 pm
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TOS is nowhere near as good as IB. But sometimes they will get a borrow on something IB does not have.
#21 by qbantek on December 14, 2009 - 12:13 pm
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thanks!
#22 by MarketMonk on December 14, 2009 - 12:15 pm
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Thanks, am looking for a cheap way to get access to BB type of stocks and still keep TS (platform is great for the price)
#23 by James Krieger, M.S., M.S., no B.S. on December 14, 2009 - 12:38 pm
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SNSS starting to trade sideways in the 1.90 – 2 range. Hopefully we’ll get a nice fade this afternoon
#24 by MarketMonk on December 14, 2009 - 12:43 pm
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NEP off trading halt, pricing a secondary, market no likey
#25 by Preston on December 14, 2009 - 12:46 pm
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LUNA looks like a good short HOD of right here.
#26 by MarketMonk on December 14, 2009 - 1:14 pm
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With TS, I have to call in to buy/sell stocks like JBII
and I am not sure they have shares available for me to borrow in order to short this stock.
#27 by Reaper on December 14, 2009 - 1:15 pm
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IB and TOS don’t have JBII either. I don’t think anyone will. IB said they had some shares yesterday but none today.
#28 by Preston on December 14, 2009 - 1:16 pm
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MGPI nice b/o chart on low volume.
PRLS same.
#29 by Preston on December 14, 2009 - 1:18 pm
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CBPO very nice chart but low volume.
#30 by MarketMonk on December 14, 2009 - 1:20 pm
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BIOF testing LOD, could drop nice from here
#31 by James Krieger, M.S., M.S., no B.S. on December 14, 2009 - 1:25 pm
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SNSS looking like it wants to fade…fade should be on once it cracks under 1.90
#32 by johnc on December 14, 2009 - 1:44 pm
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I dont think i can safely say, i like any setups at this point… other than shorting a few, but theres no shares avail for those few.
#33 by MarketMonk on December 14, 2009 - 2:23 pm
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http://misstrade.wordpress.com/2009/12/06/tim-sykes-calls-out-mike-huckman-maria-bartiromo-warren-buffett-and-peter-lynch/
classic Tim
#34 by MarketMonk on December 14, 2009 - 2:25 pm
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sorry, I thought that was a more recent post
#35 by James Krieger, M.S., M.S., no B.S. on December 14, 2009 - 2:25 pm
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SNSS just doesn’t want to die. I shorted at 2.10, covered half at 1.83 and the rest at 2.01 when it failed to stay under 2
#36 by Reaper on December 14, 2009 - 2:39 pm
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Good job! I wanted to short there but I was too slow.
#37 by Preston on December 14, 2009 - 2:57 pm
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-110 on CYCC, I got tired of watching it and it looks like it has developed some support around 1.35ish.
Horrible trade.
#38 by Povilas on December 14, 2009 - 3:02 pm
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Hey Reaper, just wondering if the comment I’m reading has to disappear after 7sec or it’s not normal? I have to move my mouse around to be able to read…
#39 by Reaper on December 14, 2009 - 3:06 pm
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I have not ever had that complaint before, which leads me to believe it is some problem with your browser.
#40 by Preston on December 14, 2009 - 3:31 pm
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Yeah I have the same problem on my home computer and not on my laptop. But on my laptop I can’t reply to individual messages, on my home computer I can. I have to keep moving my mouse on and off to read a longer comment, just figured it was my Vista program.
#41 by Reaper on December 14, 2009 - 3:36 pm
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Let me know if you still have problems now; I changed a couple settings.
#42 by Povilas on December 14, 2009 - 3:38 pm
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I still do
#43 by Povilas on December 14, 2009 - 4:19 pm
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I figured out it’s the problem with IExplorer, gonna try opera
#44 by Michael H. on December 14, 2009 - 4:22 pm
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Fyi…same disappearing text problem as others.
#45 by MichaelGoode on December 14, 2009 - 4:38 pm
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To try to fix the comment problems I have changed to Disqus for managing the comments. Old comments should reappear soon.
You will need to get an account with Disqus or login using your Twitter username to post comments.
#46 by vset on December 14, 2009 - 4:51 pm
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Type your comment here
IB commission is half of TOS isn’t it?
Thanks!
#47 by vset on December 14, 2009 - 5:00 pm
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Hello!
IB comissions is 0,01$ to buy+sell.
TOS is $0.03 per share.
3 times more? Not competitive ?
Thanks!