Some Signs Of Life In Several Small Caps
TIM $15,249, Up $29
Long 200 APWR @ $18.46 Overnight
Speech at the Trader’s Expo went incredibly well yesterday, some people came from as far away as Maryland just to hear me speak, or so they say. Some company recorded it so I’m sure they’ll be offering it shortly, Powerpoint presentation and all, not sure if it’ll be overpriced, but probly.
Funny story about using Bill Gates to tout a Penny Stock, actually kinda interesting
New SEC rules shortening holding period for restricted stock!
See that “Get In My Top Spots” on the right hand side thing, sign-up so I can continue this honesty quest and never have to be tempted to sellout
Stupid Media Fight: CNBC vs. Barrons over Cramer
Nature Vision (NRVN), a POS little $4 mil company with average daily volume under 10,000 doubled today, no shares available to short, action reminds me of Grand Toys (GRIN) the other day, which I missed filming with CBS. Unlike GRIN though I couldn’t find any NRVN to short today, not that I wanted to really, waaaay too scary, but the odds of success get much better if it becomes a 2-3 day runner, squeezing the early shorts
Bought 200 shares of best of crap breed company breaking out A-Power Enenrgy (APWR) at $18.46, on the afternoon intraday, 5-day, 10-day and nearly an all-time breakout (on little spike over $19 is all that stands in the way). This is what I mean when in my DVD I say to buy stocks enjoying breakouts over multiple timeframes. Yes it’s a lready spiked twice and failed—I got out for a quick $1 the first time, didn’t play the 2nd, but this is the first spike to occur into the close and thus it’s the most likely to continue the next day. Similar to me buying COIN the other day on a multiple timeframe breakout, which was screwed up by negative overnight news. So far, no negative news on this one, so a morning spike, most definitely a pre-market one, looks to be in the cards. After that, I doubt I’ll hold, too many big block sellers and too light volume for me to trust it. Only way I’ll stay in for more than an hour or two is if the volume impresses me.
IDM Pharmacueiticals (IDMI) continued to annoy short sellers. I was wise enough to cover my short before Friday afternoon and the ever so common Monday morning spike, but I shorted 1,500 shares today at $3.23, held for what seemed like forever, but was only a few hours and covered at $3.20 when it looked like it’d never break $3.15. Made like $25. It did eventually break, but then it spiked, broke again, spiked once more—what an annoying play! I’ll only short it if it breaks $3, that’d be a multi-day breakdown, hopefully it cane spike again and fade into that tomorrow afternoon or else it’ll just hold up like some strange biotechs like QSC seem to do and then we’re talking days, weeks or months before a good solid breakdown. Bleh!
TITN excellent morning gap on IBD news, then fade
CTIB midday spike on Walmart rumors, bailing out the people who bought in anticipation of a Crain’s article
Afterhours Spacehab (SPAB) failed to get their NASA contract, that means no financing, stock down 40%, company screwed. Coulda woulda shoulda held my short from last week, betting this company would fail. When in doubt, always bet on these microcraps failing—there’s a reason why I’m so cynical!
Got a big dinner, I’ll add charts to this post later to make it all clearer.
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| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Sept 4 | COIN | $5.70 | $6.21 | $745 |
| Sept 3 | COIN | $6.49 | $6.30 | $305 |
| Sept 3 | COINW | $2.75 | $2.85 | $180 |
| Sept 2 | TAYD | $7.51 | $8.13 | $545 |
| Aug 18 | FOUR | $2.80 | $2.66 | $342 |
| Aug 14 | APII | $2.66 | $3.30 | $1261 |
| Aug 12 | APII | $3.25 | $3.40 | $285 |
| Aug 7 | NOBL | $5.02 | $5.49 | $680 |
Total: $26,508 (
114%)
51Tony Ellis
February 20th, 2008 at 5:54 pm
Great segment on FOX BIZ…Hope you become the next Cramer! Only better.
52Alvari40
February 20th, 2008 at 6:59 pm
Eric,
I have been trading stocks since the mid-90’s and futures since ‘03 - I never totally feel like I know what i am doing. A traders life, IMHO, is one of being in the moment, feeling confortable with one’s own ability to make a split decision, living with the outcome of all trading decisions you make, and ACCEPTING PERSONAL RESPONSABILITY for all your trading decisions. Being in the moment, to me, means not losing focus, confidence, or your ability and willingness to make split decisions. Taking responsability means not having the personality that points fingers at TIM, Cramer, your dog, the doorbell, boss, etc. for trades that reslted in financial losses. Once you can do these things, you have freed up so much mental capacity to do what needs to be done IN THE MOMENT that you will dance with the charts.
I feel like I know what I am doing when I exit a long position and can ignore the fact that the stock keeps going up (and just smile and say “good for you”). I feel like I know what I am doing when I quickly hit the eject button on a loser without cringing or being distracted from my mission. I feel like I know what I am doing when I pocket an ungodly amount of money and do not jump up and down with excitement. I feel like I know what I am doing when I hit the ask or bid to get into a trade after 5 straight losing trades and have no hesitation about doing it. You see, you NEVER get to the point where you know what the price movement is going to do, and that is difficult for most would be traders to get their arms around. You cannot control that aspect of it - period, accept that fact. Once you do, you will be able to focus on the things you can control. But you can control when you get in and when you get out of a trade. If you get in a trade at all. If you can do that while keeping your head on straight, then you have a fighting chance.
Trading is a random walk. What you need is an edge that pushes the odds in your favor. A huge part of the edge, in my opinion, is the 8 inches between your ears.
Thanks for asking.
53eric
February 20th, 2008 at 7:20 pm
Alvari40 awesome! When i said “whats going on sir” earlier, it was like saying “whats up” bcuz i havent seen u on Tim’s blog in a while. I was confused why u said sorry earlier? Ive been following and listening to veteran traders like u and Tim as well as reading tons of books. Thanks for all the advice. Good luck with CEC sir!
54eric
February 20th, 2008 at 7:24 pm
Alvari40…whats your thoughts on PCLN? Maybe a good short in the near future? Had a great runup post earnings n i think its ready to come down.
55timsykes
February 20th, 2008 at 7:32 pm
sorry i know the PCLN question isn’t meant for me, but no way in hell should u short that. never short an earnings mover for once, but this is a bigtime breakout on earnings! its pretty much the most reliably bullish sign u can get. 3rd straight quarter, last 2, solid uptrending, shorts have gotta be getting tired. reminds me of RIMM or GRMN back when they were climbing
56eric
February 20th, 2008 at 7:48 pm
Tim….you’re the man!
57Stan
February 20th, 2008 at 8:00 pm
Hey guys, Thoughts on CEC? Looks like a wonderful short
58Alvari40
February 20th, 2008 at 8:00 pm
Eric,
Oh….I though you took exception to my earlier banter about what Tim was going to do with APWR. Not much goin on. Trying to make heads-or-tails of this market. My trading style is to find both long and short candidates and then daytrade them based on the strength of the market. That has been tough lately with the reversals we have had. I had some nice shorts that were working well this morning, only to reverse with the market. With my daytrading techniques, the momentum of the market is a force that is felt on my trades. So, I sustained some losses this morning with the reviersal of the market, closed out the shorts, and then went long a couple of stocks (including fslr, which really worked out for me). By the end of the day, I was back looking for shorts. Went into the after hours with CEC short (1/2 position), IDMI short (1/2 position), and APWR short (1/3 position). IDMI is getting tough to short due to Reg Sho issues. I need to call in now to Tradestation instead of just hitting the bid. Hope your trades are going well.
BTW, from a pure technical standpointPCLN is on fire. In the last 2 days it retraced to test resistence and sprang up nicely. The breakout bar was on great volume, now just need to see volume follow thru. Funny thing here is that the runup it had last year never triggered an over bought condition on the weekly chart. Not sure I have seen that before. Strange.
59eric
February 20th, 2008 at 8:10 pm
Tim…I just added another great piece of advice from you to my trading notebook! Thanks “richassjew!”
Alvari40…maybe “whats going on” is a Southern Cali thing? I enjoy learning from everyone on this website, especially from Tim and u. Im a college student following you veterans to the money! Thanks for all of your responses. I greatly appreciate it!
60Alvari40
February 20th, 2008 at 8:16 pm
Eric,
I should know that - I am originally from the South Bay (Hermosa, Redondo, etc.). Now in the No Cal area (the Big Sac).
61Alex
February 21st, 2008 at 9:57 am
CEGE? sykes pattern?
62timsykes
February 21st, 2008 at 1:01 pm
cege has positive news, not up enough, maybe u could scalp it for a bit but its already 60 cents off its highs…dangerous to short
63Dan
February 21st, 2008 at 2:06 pm
What do you think of CCTC? Its an OTC pink sheet but its been a mover. Mostly some crap company but is it shortable if it runs up again?
64timsykes
February 21st, 2008 at 5:00 pm
i can’t short pink sheets with thinkorswim and thank god! crap like cctc makes it too scary
65Aubrey Rojas
March 24th, 2008 at 5:00 am
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66PETEKUSH(TIMBUCKS: $35)
May 7th, 2008 at 8:29 pm
coin lol yea right this was nice..
67Steve Denton
May 19th, 2008 at 12:39 pm
Oxford Funding (OXFD) looks like it is ready for an upward
spike. CAREFUL: this will be a great short term investment, plan your entry and exit and stick to it. Shortly after the jump it will fall back to its normal >$1.