TIM $15,055, Up $220 on the Day
I was damn right on calling a double bottom on MOS in the $71-72 range but my profiting $1/share made me miss out on the $7/share that followed—that’s right, now it’s $80+! That’s called luck—every stock bounced with the 500+ turnaround in the Dow—now it’s the shorts turn to panic. As I posted earlier, I wanted either panic (longs panicking) or end of the day green—well, I got big end of the day green and that’s why I bought a stock that I made $1.75/share on (impressive for me)—read on to see which one it was…
Solar is dead—pathetic lack of rebound in FSLR, SOLF, CSUN, CSIQ—def. not gonna be buying them anytime soon, can anyone say ethanol (those plays never bounced either!)… dangerous be those commodity related plays.
COIN, COINW, COINZ—all up strongly, 30%+, in a down market, doubling the gains of other micro agris NOEC and SEED. I’m going to look to short all of these yet again if they can get 1-2-3 more up days, but they’re dangerous right now since this is the first bounce day and they don’t have much downside. Can’t buy into such concentrated strength, def. not gradual enough and not in this market. C’mon morning gappers, get your gappers here!
ABK—continued strength, nice breakout past $10 in the afternoon, missed my execution for 400 shares at $10.20, a shame since it went straight to $11 within minutes, moving too fast, on its way to $14.50!!!!. Damn, damn, damn—not that I would’ve held for more than $1, but I’m just in awe of its strength… probable continued strength, but too risky for me to chase since its new driven.
MXFD, the latest Supernova breakdown (as students of my DVD know), problem is there’s no shares to short on this one as often happens with low volume OTCBB plays, hence the main problem with the scalability of this awesome strategy—but it’s great when you have liquid stocks like COIN and SEED or under $50k.
MELI, FSLR, BIDU, GRMN, LULU—all high growth speculative tech plays that have been wrecked, bought 100 shares of MELI at $47.97 around 3pm on the intraday breakout of $48 (ok, I anticipated it, baaaaad TIM), that was my pick to play a market rebound, sold within 30 minutes for $1.75/share profit…decent exit considering it didn’t go much higher even as the Dow’s gains doubled and didn’t want to risk it with EBAY’s earnings overnight (rightly so as EBAY is down $2 right now)… probably should’ve just played one of these ETFs that bets against the Nasdaq like QID—at $55 it’s a little more expensive than MELI, but it tanked $4 over the same hour, maybe even huge companies like INTC and C, which also had surged $1.50+ and they’re only in the low $20s. Basically if you bought any stock that’s gotten wrecked, you could’ve made $1-$2/share pretty easily. Perfect environment for trading—no experience required!
But I’m saving the best afternoon plays for last—I was out of day trading buying power, but instead of high priced plays, shoulda woulda coulda played the battered finance plays directly ETFC went from $3 to $3.75, SCA from $2.50 to $3.60, MBI $14 to $17
Thought about buying CREE into the close on solid earnings/weekly breakout, but it was ugly and this article that said there were lots of shorts was just plain wrong –only 1 mil out of a 40mil float! Financial journalism is a joke, too many moving parts.
Little poppers like CGEN to cheap for me to short, CLN too illiquid.
