TIM $14,140 (up $77 on the day)
100% Cash, No Positions
A nice day trade on an oldie, but a goodie, CMGI (Nasdaq: CMGI). Remember them? They were one of the high fliers back during the bubble days, but have fallen on hard times and had to do a reverse split just to get their share price up. That is, until last night’s earnings rep
ort, did it for them. Now, it’s a nice bottom at $10—I’ll have a detailed post later tonight, but for now, just take a look at the one day chart and you’ll see why I bought 200 shares on the intraday breakout at $13.03 on the volume surge at 12:30pm EST. Yes, the stock was already up 25% on the day, but this is a company on the mend that’s waaaay off its highs, so I figured there’d be some upside. Within an hour, I’d sold my shares at $13.47 for a nice 3.4% or $77 gain. Yes, it went higher, but I’m not trying to be a perfect timer—if it’d gone up more gradually, I probly would’ve held overnight, but I have a problem—I like quick profits.
SOLF—wow, while I definitely expected some strength (see my post from last night), I didn’t think this thing was capable of becoming an exponential gainer. But, with this kind of volume, anything is possible and the news today was pretty good. I actually almost shorted it in the afternoon ($25.40 was the cracking point, but it always held) and was glad that I was disciplined to wait for that crack before shorting. What’s so special about that point—well—the shorts tried to crack that 5 times throughout the day and failed, can you say support? Late in the day, it actually briefly cracked, but I like to short into gradual declines, not quick drops like that. Anyway, new support is $25, a nice fat round figure for idiot investors to place their stops at. I look to short into that price, although I’m not sure how good I’ll be feeling tomorrow after my night out tonight at the University of Arizona (if you’re in the area, come by the business school and hear me speak tonight at 6:30pm!)
CTDC, a classic stock that likes to get pumped, surged 37% today, putting in a nice bottom at $5—this one’s on watch to short, but definitely not yet…hopefully it can get up to double digits first!
And we’ve got a bunch of other ones from my Solar’s Eleven that are rising today on some new energy bill..blah, like these stocks actually need a reason to pop, blah. ASTI, LDK, HOKU.
Sykes in the news: Gawker ran yet another little feature on me. I love those guys. And if you’re in the mood to come hear me speak, definitely check out this news, as I’m apparently the keynote speaker for EQUITIES Magazine’s Winter Discovery Day on December 7th!
