CHATROOM

Scary Market To Buy Into

January 11, 2008 at 11:54 am
by Timothy Sykes

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So far today, I’ve only had one trade, trying to catch the falling knife that is TLEO, buying 200 shares at $20 (which was support). But just like when I bought AKNS on the bounce at $10 the other day, the Down tanked over 50 points within minutes of my buy and I found myself down 35 cents/share. So much for the bounce off support! when the Dow stopped going down for a half hour or so, TLEO rebounded and I sold my 200 shares at $20.12. Thanks to me being scared of my loss, I sold too early as the stock did indeed bounce to $20.50 before crashing along with the overall market right back to just under $20. Made $15 or so, LOL. Too tough to call bottoms in this market.

Even though there’s a possibility for a Big down day at the open on Monday, here some stocks I’m looking at possibly buying into the close:

CAGC–a COIN/SEED wannabe play, could be a nice gap higher and I like the low price, big spread/low volume are problems though.

SEED–agri-play holding its gains well.

PFCB–a strong earnings lift today, could squeeze the 9 million share short and it’s holding its gains well in this massacre of a market.

SOLF–just over $26 at the bottom of the range, risky though as it could crack.

VPRT and CNQR–finally potential bottoms in place?

SPIR–lates POS solar play, good PR today though, could be a Monday gapper.

HLCS–possible short, risky though.

No positions yet, just stalking my prey–please post your potential gappers/shorters so we can share some ideas. Make sure your charts are worthy though!

Posted in Potential Plays

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  • Reaper

    WTF is wrong with you lazy-ass people? I’m taking the day off trading to travel and I still post the first comment?

    7k OCCXD @ IB
    none @ TOS
    none @ Goldman Sachs
    easy to borrow at Genesis / Sogotrade

  • PCola77

    I’m not lazy, I just had nothing to post. :)

    But now I do.

    Tim, if you trade today, will Pallian or someone send an alert, or since you are at that seminar will one not be sent out?

  • http://collegecharters.com T-Money

    Isn’t SYMM right at resistance around 4.20? Tim if it goes past, doesn’t that count as a breakout?

  • http://collegecharters.com T-Money

    oh, damn…Tim’s doing the seminar..well anyone else want to add thier input?

  • bao_t2008

    t-money,

    I’d look at Symm’s pattern 6 months back. They could raise to about 5.5 before they drop. If not then they’ll start dropping very soon at this price range.

  • http://www.test.timothysykes.com timothysykes

    yet again i played it too safe with OCCXD, coulda woulda shoulda easily covered into this 1.1k sell block at 3.95

  • bao_t2008

    I really need to open an account w/ TOS. Freaking eTrade can’t even get me shares for OCCXD. I would have made my $1k!

  • PCola77

    Just saw something interesting happen. Ask was 4.53 on OCCXD and I put an order to sell at 4.50. Immediately the ask ticked bown to 4.49. I’ve seen this happen on illiquid stocks in the past, and I bet if I lowered my order to 4.30 it would tick down to 4.29. In other words, my bet is that someone has something set up to programmatically be the lowest ask, so they do all the selling, but at the highest price that they can get. I’m not going to change my order, because I don’t want to sell at less than 4.50, but maybe later if I get bored I will do it quickly to see if I am right.

  • http://collegecharters.com T-Money

    well it’s at 4.5, so I think you made the right move. can’t always time the market.

  • prognesubis

    PCola do you mean that they do all th buying instead of selling? are you trying to sell long. confused.

  • http://collegecharters.com T-Money

    PCola, how much is your order? Try to sell short at a higher price and see if it ticks up say around 4.70? ar are you using TOS?

  • PCola77

    The ask was 4.53 when I placed my order. If I had placed the order at 4.70, the order woudl never appear. When I put in my order to sell short at 4.50, it IMMEDIATELY ticked down to 4.49. In other words, there was no time for someone to see the ask tick down and resubmit an order. So it had to be an MM or a programmatic trade. A few minutes after I posted here I pulled my order completely, and right away it ticked up to 4.50, so my gut now says it was an MM that can see all orders, but maybe it was just one giant coincidence.

    prognesubis, what I mean is this: Say you want to sell your stock. You want the best price you can get. If someone lowers the ask to 4.50, the best price you can ask and still be first in line is 4.49. Make sense?

  • http://collegecharters.com T-Money

    Who is a market maker, and how would he be able to see the orders?

  • PCola77

    T-Money, I hope you’re joking, but if not, they are the “people” that make a market in stocks. In other words, they set the prices. they are based mostly on actual orders, but they provide liquidity in many cases as well by taking inventory on both the long and short side themselves. They are the ones you tell taht you want to buy or sell, so they have to have access to all orders.

  • prognesubis

    T-Money, MM is like a mean GOD. That is why TIM does not use stop loss.

  • http://collegecharters.com T-Money

    so it’s just another name for a specialist.
    Well they aren’t supposed manipulate the market are they?
    And where is the OTCBB located?

  • prognesubis

    T-MONEY, if you can’t beat them join them.

  • PCola77

    http://www.investopedia.com/terms/s/specialist.asp

    http://www.investopedia.com/terms/m/marketmaker.asp

    By the way, investopedia is a great resource to learn things when you have a question like that, for future reference.

  • PCola77

    They’re not manipulating the market, really, they are jus trying to get themselves the best price in that case. manipulating the market would be me putting in my order at 4.50 and them accepting an order at 4.53 and bypassing mine.

    Oh, and go to http://www.otcbb.com for info on that exchange

  • apharris

    Well, it’s been three or four days now, still nothing much in the way of trading profits i.e. trades, and whereas before I was kidding, now I’m just a bit concerned that success at this $30/mo service depends on buying a $270 course in short selling. Am I missing something here?

  • nojobmaui

    patience

  • prognesubis

    Short UTEK 13.85

  • bao_t2008

    Nojobmaui,

    I hope you covered your shares w/ OCCXD b/c they’re worth about 3.4 right now! That means you’ll make about $1.50/share. I wish I was in your shoes right now.

  • bao_t2008

    Wowsers! UTEK is an awesome at about $14/share. I’m in!
    I hope I can get shares.

  • bao_t2008

    *short

  • nojobmaui

    i covered last night thx for your help !!!!

  • jb

    bao-t2008, are you short or long, on UTEK?

  • daytr8r

    UAUA is just ridiculous right now. People buying these airlines are retarded.

  • PCola77

    apharris, if you’re that concerned than just cancel your subscription. His niche is short selling penny stcosk, so yeah, you shoudl probably have an understanding of how to do that if you want to profit from his trades. And if the fact that he’s made 120%+ in under a year isn’t prrof enough for you, or if you think he doesn’t trade enough, then go somewhere else. I’d be interested to see how many other services you find that will make you more money in the long run, and not just over 4 days.

  • bassman52

    APHARRIS,

    STOP WHINNING AND MAN UP! I JUST GOT AND WATCHED MY DVD BECAUSE IM NEW TO TRADIN AND ITS AWESOME!! TOTALLY WORTH IT!! WIPE YOUR TEARS MAN AND GET A GRIP. IM OUT

  • dhousley

    Any opinions here on ISRG again? I know it’s not a Pennystock…and it’s a real company…but it’s back in the range Tim traded it before.

  • mayureshd

    Am i Missing something? UTEK has been on an upward trend last couple of days.

  • djvenom

    VIV – up 300% today

  • http://www.test.timothysykes.com timothysykes

    isrg is now an earnings miss…not a bounce play

    harris, i trade whenever i see opportunity, missed APWR the other day, hit OCCXD yesterday for a 30% gain

  • frayes

    Not a bounce play? Bought at 180 and sold at 194 for about $300 profit.

  • http://www.test.timothysykes.com timothysykes

    not a bounce play for my patterns, there is a difference