No trades today, just a review of all the microcrap happenings…no matter how hungover or how many meetings/chores/classes you have, always always always review and prowl the landscape for potential opportunities
Isn’t that pretty? Awww almost as pretty as VVTV, MALL and HALO spiking at the open, now up just a little, breakdowns still possible, but justifying my decision to cut my shorts so quickly yesterday…little losses on the screen/website aren’t pretty, but they’re prettier than big losses kinda, more short sellers should learn to trade so scared…maybe then the category as a whole wouldn’t put up such god awful numbers all the time!
Lots of little microcraps surging today….good…yesterday I asked the market gods to give me some stuff to short and it looks like they’ve complied…solars and agris all getting warmed up: SOLF, ASTI, AKNS, CSIQ, the whole COIN family—COIN, COINW and COINZ, TITN (getting close to an all-time high breakout), SEED, NOEC…basically every stock I detailed in this article about agris and my now classic post about solar stocks, Solar’s Eleven
No, I’m not buying them—I don’t buy random 1-day price surges, I buy breakouts, meaning all-time high breakouts (and no not CALM, it’s waaaaaay too pricey for little Tim, what am I gonna buy 100 shares?!?!?) But I am glad to see the beginnings of something I might short into…for now, I stay on the sidelines, working on the much talked about but little shown TIMtv and TIMradio…two projects that will be in your face when my new websites—yup, another new site—goes live on my birthday April 15, 2008…get ready to take financial to the next level….think thestreet.com + Facebook or fool.com but good
Also, check out my two latest sponsors, GFT Forex, who deal in, yup, you guessed it, forex trading (the most liquid market in the world, aka something where there are always plays and leverage galore) and a FREE Pennysleuth Report featuring 3 stocks apparently poised to move 300% (somebody sign up and tell me what stocks those are so I can look to short into that kind of move, LOL)…two verrrrry different examples of all the fun financial niches in which you can try to make some loot
PS Also keep an eye on 2 microcrap biotech plays BPAX and VION, potential shorts there too
PPS I can’t stop Twittering, this junk is gonna be huge
UPDATE: BPAX closed strong, 2nd big up day, tomorrow’ll be interesting…SEED got mentioned on CNBC, spiked 50 cents, I played it safe, stayed away, stop dropped 50 cents…coulda woulda shoulda…gotta laugh at this simplistic thestreet.com article about it, saying today’s rise is due toMonday morning’s PR, yeah right! More like today’s an agri momo day…but they can’t print that…classic misinformation, aka opportunity/inspiration for my site
UPDATE 2: Shorted 1,000 VION at $2.43 into a nice weak close…other than the manipulative painting the tape some desperate long did when he bought 100 shares at the close, lots of sell orders, gotta love that chart with a recent 1-10 reverse split, drop got steeper after their last “earnings” report…practically spells out THIS COMPANY IS FAILING FAST…goal is to hold to $2-ish
Posted in 101basics, Basics, Patience, Patterns To Short, Short Selling