Watchlist for December 4th

AAPH is interesting, but a little low-priced for my taste.

CCRT jumped big today on news of a dividend and a spinoff plan. It might have another move in it tomorrow.

GGWPQ had a nice breakout today. This is one of the 5% of bankrupt companies that will re-emerge from bankruptcy with shareholders intact. I see no easy play now though.

LZB is nearing a nice breakout at $10.

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.

This entry was posted on December 3, 2009, 8:30 pm and is filed under All Categories, Watch List. You can follow any responses to this entry through RSS 2.0. Both comments and pings are currently closed.

42 Comments

#1 by Preston on December 3, 2009 - 9:15 pm

I study so hard, watch so long, try to pick a decent pre-market leader and got killed this morning. I admit the loss was my mistake, I bought right out of the gate and did not wait for the momo to show itself, I went blindly in with no plan but buy low and sell high.
There is a flaw with that plan, I had no stop in mind, only a exit plan which never matured. The loss is not crippling but the mental loss still sets me back, am I at a point now where I need to make some trades to practice. 6 months ago I traded thinking I was practicing but was really just losing money and confidence. Now I think I have a plan but have not practiced enough, I’m not sure if that makes sense.
- #2 by Reaper on December 3, 2009 - 9:22 pm
  
  Welcome to the suck! At least there’s company and good food …
  
  Seriously, bad trades happen; get over it (that is one big problem I have). Just try to avoid the really big mistakes that cost you lots of money.
#3 by Reaper on December 3, 2009 - 9:20 pm

IFNY big pump, not current with SEC filings, put out this crap PR: http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ifny#getNews

Big time short watch, could have another up day tomorrow.
#4 by tapout_mma on December 3, 2009 - 11:01 pm

Preston, I hear what your saying and feel I’m in the same boat with ya…I had 2 suck trades this week and it affects me more mentally…But that pre market strategy is a tough one.
#5 by tbohen on December 4, 2009 - 8:45 am

Were famous…..

http://bit.ly/4XgnNb
#6 by tbohen on December 4, 2009 - 9:40 am

Out BIOF minus a couple hundred bucks. Bummer…
- #7 by Reaper on December 4, 2009 - 9:41 am
  
  -$27 for me. Quick covers!
#8 by vset on December 4, 2009 - 9:45 am

Nice site.

I will follow it.

Tim’s account is verified by whom?

Best regards.
- #9 by Reaper on December 4, 2009 - 9:46 am
  
  Covestor. http://www.covestors.com/mbr/timothysykes
#10 by tbohen on December 4, 2009 - 9:49 am

Reaper :

-$27 for me. Quick covers!

Yeah I should have been quicker especially on R/G, but I set my stop at $3.20 when I entered yesterday and stuck with my original stop.
- #11 by Reaper on December 4, 2009 - 9:50 am
  
  Like Timmy, if a stock doesn’t do what I want in the morning after I held o/n I get out quick.
#12 by Big T on December 4, 2009 - 9:50 am

Risked a short on IFNY, 1K shares-a bit early as it did not take out the close of yesterday, but it seemed to be teetering with profit takers coming in, sold half on scalp still have half and it has not convincingly broke that near term support.

I am holding and hoping it keeps puking all day, as it is up so much so fast on lamely justified news. I consider this not a true supernova, with only 2 really big days up straight, but they often tank like this, and as long as you avoid first day shorting pitfalls, and wait for a cascade of selling early, etc. it can at least be scalped.

Thanx for the tip, Reap…
- #13 by Reaper on December 4, 2009 - 9:52 am
  
  I’m there with you, short 1.5k shares @ 1.6535 … fills were horrible, I tried shorting from 1.78 but couldn’t get filled. I’m liking it so far, especially now that it is definitely red, printing 1.63.
#14 by Big T on December 4, 2009 - 9:58 am

Yeah, Reap u were up a bit on the gap down, like 3.00 and u in at like 3.09 or so IIRC, but it quickly bolted. Could have as easily tanked.

I think the thing to learn is cutting losses quickly, which you did, when it fails to act as you predicted. The hardest part I find is WHEN it IS working, to hold thru minor moves contrary to the anticipated direction, to get more and not take quick and lesser profits. Like an all day short where by day’s end it is down much more if it is covered after hours of waiting and mostly sideways grinding.

That is why I like to sell half, so psychologically I booked some money and can let myself run the other portion…
#15 by Big T on December 4, 2009 - 10:04 am

Yeah, I am impatient and probably should be in ONLY *below* 1.67 (prev close) but I am in early and holding. I want it to really correct, like 1.35 or so before covering. The nice thing about these up 100% penny pukers is they cannot be sustained, and often pay off if you can hold on and not panic on squeezes. Seems like your entry is technically better than mine. Everyone wants in near the top, but in theory of green to red and taking out the prev close, you are supposed to get in right below 1.67 here, arguably…
- #16 by Reaper on December 4, 2009 - 10:13 am
  
  Well, considering this went green again neither of us has a great entry. I would not look to short here. That being said, because of the spread I will hold on for awhile and have a loose stop.
#17 by Preston on December 4, 2009 - 10:17 am

FLOW nice b/o chart, 400k volume, this thing could pop and run again.
#18 by Big T on December 4, 2009 - 10:22 am

I am not convinced this is tanking, I am tempted to cover early, it does not remain convincingly with a slow burn below 1.67, its like at 1.70 now and hanging on. I worry its gonna re-fire up and not be done today. I agree on spread, but this is already disappointing me. I know I am being too choosy, but if it does not act enough as I expect, I am out…
- #19 by the donger on December 4, 2009 - 11:07 am
  
  I was with you on this. I was watching this all morning and couldn’t figure out what it was going to do and stayed away. But holy cow, that drop in the last couple minutes sure is putting the hammer down on where it is going.
#20 by tbohen on December 4, 2009 - 10:25 am

Reaper :

Like Timmy, if a stock doesn’t do what I want in the morning after I held o/n I get out quick.

Agreed and you are correct, but a couple hundred dollar loss is almost always acceptable to me. I won’t accept larger, but 200 bucks is within reason. And you are just rubbing it in that you were quicker then me… I know you too well. And of course its now back below $3.20, but oh well.
- #21 by Reaper on December 4, 2009 - 10:27 am
  
  For some reason I have a hard time taking losses even of the $200 size now.
#22 by tbohen on December 4, 2009 - 10:54 am

Hard to argue with that.. My philosophy is theres got to be some risk, or you’ll give up on a lot of potential gains, but my max is $200-300 max. Which considering my usual position size ends up being about 1% or even less.
- #23 by Reaper on December 4, 2009 - 11:01 am
  
  Yours is the right way to think about it.
  
  BTW, today is my first real Michigan snow! I feel like going outside and building a snow man.
#24 by qbantek on December 4, 2009 - 11:08 am

BIOF doesn’t look like holding it’s price.. it is soooo slow though
#25 by Reaper on December 4, 2009 - 11:11 am

covered most of my IFNY +$250.35 realized so far. Not bad considering small position size and crappy fills. 400 left
#26 by Reaper on December 4, 2009 - 11:12 am

and out IFNY … +$353.75 total on 1500 shares.
#27 by Big T on December 4, 2009 - 11:20 am

Yep. I blew it. I covered IFNY too quick. It broke down recently and is at 1.40 just as I wanted, AFTER I dumped the 500 remaining shares at a much smaller profit. All it takes is one motivated seller and it cascades in a profit taking dump! Congrats Reap, I hope you got out near the 1.40s…
#28 by Big T on December 4, 2009 - 11:21 am

It even exactly bottomed on my hoped for 1.35 call, I wish I had covered there, LOL. I need to learn patient holding, not cutting profits short, a common flaw in human nature and trading which often do not go good together.
#29 by pennymoney on December 4, 2009 - 11:29 am

IFNY looks like at 1.59 there is not buyers or sellers, so MM will make it bounce up/down to find new ones, so probably is going to fall further down…the question is how big will be the promotion over the weekend? because if is not promoted by new newsletter i can see a huge gap down monday.
#30 by pennymoney on December 4, 2009 - 11:31 am

I ment 1.49 sorry about that
#31 by Jamal Chahboune on December 4, 2009 - 11:54 am

When I type in reapertrades at google to get to the site it has a sponsored link from PennyStockChaser

LOL
#32 by James Krieger, M.S., M.S., no B.S. on December 4, 2009 - 12:19 pm

BIOF is breaking down
- #33 by tbohen on December 4, 2009 - 12:39 pm
  
  Grr, thanks for pointing that out….
#34 by Myrrh on December 4, 2009 - 12:38 pm

Been watching BIOF all day. But can’t seem to pull the trigger. My hesitency to pull the rip cord is amazing lately.
#35 by James Krieger, M.S., M.S., no B.S. on December 4, 2009 - 1:45 pm

BIOF trading sideways at 3 now….question is which way will it go from here?
#36 by Preston on December 4, 2009 - 2:17 pm

+66 on WXCO short, I only got filled on 200 shares but it was at 2.39 HOD, ou at 2.06 for a nice percentage but small dollar amount.
#37 by Preston on December 4, 2009 - 2:21 pm

wow, gold must be getting killed today, DZZ showed up in my 10% scan.
#38 by James Krieger, M.S., M.S., no B.S. on December 4, 2009 - 2:30 pm

Nice trade, Preston.

BIOF looking weak, needs to crack 2.95
- #39 by tbohen on December 4, 2009 - 3:07 pm
  
  Hmm you just got some help!
#40 by James Krieger, M.S., M.S., no B.S. on December 4, 2009 - 3:09 pm

Covered half my BIOF short position at 2.80 (was short from 3.12)….holding the rest
#41 by Preston on December 4, 2009 - 3:41 pm

That was a good play, I tried getting shares but AMTD had none.
#42 by James Krieger, M.S., M.S., no B.S. on December 4, 2009 - 3:47 pm

Just covered the rest at 3.02 in my IB account….it’s taken a pretty hard bounce.

I’m still short a small position of 300 shares from 3.17 in my Cy Group account

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