03/03/08

Well, work got called off today due to weather (while I was about 40 minutes into my commute, conveniently) so I came home, looked over some stocks I've been watching and played the market.

The stocks I was looking at were all pretty much long positions and consisted of:

ABX - testing a 52-week high from 3 months ago. Also, its a gold mining stock.
ATRO - a long time prospect, recently suffered extreme market punishment.
CPRT - a Fool pick, broke out of a sym. triangle and I missed out. Oh well.
BDGW - HotOTC.com pick. Eh.
CTRP - Also testing a high with a possibly profitable impending rally.

At the bell, I purchased 2000 shares of BDGW @ 1.02. It really ended up doing nothing (even at the moment) and I got out flat (minus commission) to pursue other oppurtunities. Liquidity was also a problem and had to get out in two sales, the second being only 12 shares.

After exiting my pink sheet trade for the day, I entered another hototc.com pick RVGD which I hadn't intended to early on. It was trading on very large volume and I entered at 400k shares @ .005 so as not to disturb the bid/ask (which was at 500k) too much. It was bouncing between .005 and .0055 and at $200, top to bottom, I reaped the rewards of the last bounce in that channel. Whew...

Lastly, I accidentally set a limit order at 54.01 for ABX hoping to hop on the breakout when I meant to set a stop order thus getting me in at 53.81, prematurely. Oh well. This is a pretty strong stock right now, intermediatelly speaking, so I'm opting to stay in with a 3% stop loss set for posterity. I'll stay in this position at least for the next 6 days but possibly for longer. We'll see where this goes. Volume isn't excellent right now but its enough. This stock has a good chart for sure. It has been forming a symetrical intraday triangle since the open although the volume trend is somewhat alarming.

All of this mess put me up and extra .2% on my rolling p/l% to +13.7%.

Right now, i'm getting ready to start a log of running historical profit on hototc.com OTC picks. Results will probably get posted tomorrow.

Time to record for now...