November 19th Review
TIM $14,319 (down $20 on the day)
MarketClub doesn’t know what to think of me, but they admit I’ve got guts!
(Nasdaq: FRPT) – finished down nearly
17% on concerns that their business is crap (which it kinda is), but now I think it’s just getting overdone. Must be very careful when buying this stock. I thought about buying in the $4 range this morning, but I forced myself to wait until the afternoon. Bought 500 shares at $4.93 on the afternoon breakout, thinking the shorts might get squeezed and I could pocket a quick 50 cents or so. Unfortunately, when the shorts did get squeezed, it only went up 10 cents to the low $5s and then fell right back down…quickly sold out at $4.91 to protect myself, good trade based on the risk/reward, even if it did result in a $20 loss.
(Nasdaq: PEIX) – ever since this company announced their new CEO a few days ago, the thing has been in play. People really do matter and even though it’s forming a nice Sykes Pattern, I’m gonna wait to short because, until today’s 18% gain, it’s been a pretty gradual rise, aka a bottom
(Nasdaq: OESX) – the latest trading mistake of mine, you guys better learn from this idiocy. New IPO, maker of energy-efficient lighting systems (for those who read my book, these guys seem like the real deal that CAFÉ always wanted to be), priced at the midpoint of its price range (meaning institutional investors were interested, but not going crazy over it), so I looked to buy on the breakout (as I always do). It had a little dip in the morning, so $18.35 was the breakout point. I placed my buy order for 200 shares with a limit of $18.40, but then was shocked to discover my broker, Thinkorswim, said it was an invalid symbol. I tried again, same response. I immediately hit up my customer service chat button and within second (as usual!), I was talking to somebody and he could place the order for me…unfrtounately, the stock was already at $18.80 and I chickened out (considering I was 40 cents off my initial entry). An hour later, the stock hit $22. I probly woulda sold at $19.90 or so…welcome to my life, soooo many trades that are soooo close. No use whining about it, next!
(Nasdaq: EPEX), (Nasdaq: EPEXP) – stock rose 15% because they put themselves up for sale, aka they were tired of watching their stock go down literally every single day. Could be a good short, but it hasn’t risen enough just yet
(Nasdaq: CPST) – after hours announced first customer for their cool new product is NTT Docomomomomo. Let’s see if anyone care pre-market tomorrow, could be an easy 20 cents or so on 2,000 shares for TIM, aka $400
(NYSE: LDK) – I know I’m gonna get crap about writing a bullish article about LDK (considering they’re down nicely tonight after decent earnings), but I hope everyone reads the last line of the article. I’m a technical trader / writer, I have lots of short and long picks, but I don’t touch anything until the price action concurs with my thesis. I’d only buy LDK on the breakout of $77, nothing lower. Until then, it’s a perfect double top at $76ish.
(Nasdaq: TSCM) – I couldn’t write about them when the stock broke out big-time 2 months ago (because I was writing for them), but since I don’t anymore, screw it, it’s a breakout play, online video is hot and their new head of multimedia used to be at CNBC (he’s the guy who let me bring models on!) is very smart. Sure, if Cramer has a heart attack, it’s all over for them, but the same can be said for Berkshire Hathaway (perception is everything people!). I wouldn’t be surprised to see them get bought out. Not sure if it’s tradeable, but it’s definitely one to watch.
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