Thanks to (GE)’s pathetic excuse for a business, it’s stormy out there today! No new stocks on my radar today…lots of microcrap traders are playing (FRPT) and (MNKD)—TheLion.com’s all hopped up on them as if they were Mountain Dew. I like volatile low priced stocks just as much as the next guy–ok, maybe more–but not those of falling knives—their movements are based on rumors and speculation of further contracts/news…I hate trying to predict news…no I prefer predicting the effects of sketchy promoters and gullible suckers.
Speak of the devil..unfortunately, there’s no shares available to short of (PSTI) today—something tells me it’s gonna take the big dump under $4 today or Monday, but with my impatience there was little chance at me holding for a few days…as would be the correct course of action (as is usually the case aka you can do better than me!)
(COT) looks ripe for a big fall, at least down to $3, then it’s a question of whether or not it can take out stop losses there.
Also looking at the solars…(ASTI), (SOLF), (AKNS) look ready for some big dumps of their own—and with today’s utter trashing of (GE), the overall market is gonna start down big
If I do trade, I’ll probly wait for some afternoon fades—even though I ripped on (CRY) and (NOG) for being higher priced stocks, they’ve both continued to act perfectly…late yesterday, NOG even exemplified a damn near perfect reversal of multi-day gains, right when the stock went negative on the day, afternoon crack of sideways price action and all!
Goddamn that’s a beautiful thing…print that chart out and hide it under your bed—just don’t let mom find it! (not that I could’ve played that chart considering all my PSTIing and the 48584748th time the SEC-reign-of-terror-rule has limited my trading…what a waste!) (SEC, I’m gonna keep documenting each and every time you screw me—and the thousands of small traders TIM represents—so you can better understand how harmful this rule is)
UPDATE: PSTI did in fact break $4, on its way to $3.50…rather easily…$1,200-$1,500 profit from $5, just need patience, very sad I only squeezed $500 out of it…just as NOG and CRY stopped acting nicely and reversed, yet another lesson in why low priced stocks rock!