The following was sent to TIMalert subscribers around midnight, yup, they were prepared today, the same as every day:
So much for any rally, this market is truly pathetic and now that the major indices like the Dow & the Nasdaq are below their November lows, any long/investors in this market deserves all their losses and more because they’re ignoring basic technical analysis.
A large crash day could come at any time, just as a large spike upwards could occur too…that’s why I’m trading very conservatively right now, I know it’s frustrating, but the key to success in this kind of environment is staying liquid and waiting for those opportunities that arise due to everyone else panicking…
PSPM rebounded 8 cents, wooo hooo, if you look at all the hate comments on my main blog, you’ll see how many suckers got crushed in this…let this be a lesson to you as to how quickly these things can implode once their stench gets to be too bad. Unless this stock gets promoted again, it’s boring and dead to me.
ARNA, like the overall market, tried to bounce in the morning, but failed and headed gradually lower…still overvalued, but it’s going to be tough for it to drop much more, still a potential buy for me…
EMAG rose 124% yesterday after announcing they would be acquired…10 days after they said the merger was off. Make up your minds people, for now the stock is dead to me.
GOE dropped $10/share at the open then gradually went higher throughout the day, turned out to be a good buy, but waaay too illiquid and that’s a risky pattern to buy into. No play here
SUF was good for a 30% intraday drop, great intraday chart pattern, but not a truly ideal short since it didn’t really go red—and even if it did, that’s not something to short since it had already dropped soooo much, but it was good for some advanced PennyStocking students, namely TBohen:
Short Sold 5000 SUF @ 1.30
Bought To Cover 5000 SUF @ 1.12
+$853
NCX is another takeover, no play here guys, seriously please stop emailing me…wait for normal stocks to go up 200%+ in a day, not mergers/acquisitions…learn the rules already, I beg you.
JRT jumped with its newfound 1-10 reverse split shares, now back in compliance to be over $1 to stay listed on NYSE. If it surges more, its possible spike, but this could easily become a $4-5 stock since its down now from $100+ (post-split prices)
ZN has been in an uptrend for a while, now with the stock up almost $3 yesterday to $15+, the shorts are finally getting squeezed…let’s hope for a true Supernova here, which means it’s a potential buy before it’s a potential short…chart’s gone vertical on volume that it won’t be able to hold for very long…I’m drooling to short this, but will wait for signs of it rolling over. If you don’t know what pattern I’m looking for, may I suggest you watch my PennyStocking Part Deux DVD while we wait for this thing to implode.
Tags: Potential Plays
