VRML Short 1,300 @$3.75
LGDI
SUNV
Getting up bright and early, I reserved shares in all three of these stocks to possibly short today, not knowing which I’d actually short. LGDI didn’t even trade for 5 minutes and when it did, it moved slower than an under-cooked lobster. SUNV didn’t breach the key $1.20 level until the afternoon (when I had no trades left), so it was all about VRML.
I wanted to short into strength cuz it was a classic short covering rally from yesterday’s $1.75 pullback off the highs…given the magnitude of the declines and that it’s still up 300+% in a few days—on an ill-researched story thinking this near bankrupt company will do anything but go under—meant short sellers would be aggressive. Afraid I’d miss the probable pullback, I jumped the gun too early, shorting 1,300 shares at $3.75…as I watched it hang around $3.90 x $4 for another 30 min, I wasn’t very worried as the big buyer blocks were only on the bids—the wall of sellers at $4 never in danger of cracking—a clear sign of pumpers trying to scare up buyers/short covering…inevitably, the volume faded, the bids disappeared and the stock spent the day chomping gradually away at its early gains, few buy orders at the ask. I’d call it a perfect crack of sideways price action in the $3.60 range, but it still managed to finish up on the day, so it’ not totally perfect…just yet.
Despite my poor timing, I’ve got a nice $380 profit so far, I let it ride overnight cuz I think it goes under or around $3 today or tomorrow, possible big stop loss panic if it take out $3, might get to cover at $2.60-$2.75ish if I’m lucky.
VNDA
Nice gradual fade, but not my ideal PennyStocking short, too tight a chart/variables not fraudulent enough to squeeze one in
BDCO
Everyone’s goin crazy over an 18 cent gain, leme know when it gets to $3, until then jewwwww noooo
BWEN
Perfect perfect breakout, too bad it was Cramer induced aka false—remember GTE’s Cramer induced breakout took a 25% drop after before breaking out due to commodity prices, not any guru
COTE
Probable gap up and possible multi-day runner, couldn’t touch it, pattern day trading rule, triple jewwww yahhhh shout out to the SEC on that one!
VSCI
Getting steep up there in the nose blood seats, when will it end
PLM
Multi-year breakout, but it’s ever so slight—same vein as failure of an impressive breakout ASIA and it’s AMEX, noooo jewwww noooo
GTE
Not such a gradual breakout anymore, making me sing: gimme gimme more, gimme more, gimme gimme more (SEC quarantined trades that is)
FOUR and KYUS
Two pumps getting tired of pumping…what gets pumped must come down
PS
My apologies for not responding to everyone’s individual stock requests, too many these days, keep posting, if it looks interesting to me, I’ll post my thoughts in these pre-market watchlists
Posted in Breakouts, Hot Stocks, Impatience, Potential Plays
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