I did actually plan to watch one of hototc.com's penny stock picks, CVSC. They hyped it up nicely and it made a relatively humble 7% gain...
In looking at my transactions for 2008, my biggest winners (by LARGE) were HotOTC.com's newsletter picks. Supposed risk aside, this would seem like the best way to trade. Hell, at one point I was up 35%... in January! I made $164 the other day in about 3 minutes. Almost too easy. No doubt, much discretion is required but if I keep doing it the way I have been, the stupid newsletter's picks my counter my losses that I've run on my own judgement in this crap market.
Wednesday, March 5, 2008
Tuesday, March 4, 2008
Crappy morning.
Woke up hungover at 7:45. Went to see NOFX last night.
Got up and started researching which was completely fruitless. I was still 90 long in ABX this morning so I watched it putter around as usual until the dow dropped with pretty strong conviction. ABX was actually rallying towards that resistance level of 54.00 but I had a feeling it would need some market umph to push it past. Didn't happen.
So I just sat around and traded the S&P 500 emini futures on my Global Forex Trading demo account. I have about 10 more days of that (started with $5k and working my way back to even... slowly.) Well as I did that, ABX continued to chop around eventually stopping me out at 51.40. I'm actually somewhat relieved to be out. I saw many trading sites talking about the profit-taking in the mining and precious metal industries right now today. Therefore, my feelings weren't hurt too bad; the ol' ego was a little bruised though.
Well, since I have to abide by the NASD's unconstitutional Pattern Day Trader rule, I only have one more daytrade for the next 5 days... hell, that rule is supposed to protect you; consider that holding over night is really the only way to get around it. Does that sound too enticing to any short-term traders in this market right now??
Enough with this for today... I need to find some fingernail clippers.
Got up and started researching which was completely fruitless. I was still 90 long in ABX this morning so I watched it putter around as usual until the dow dropped with pretty strong conviction. ABX was actually rallying towards that resistance level of 54.00 but I had a feeling it would need some market umph to push it past. Didn't happen.
So I just sat around and traded the S&P 500 emini futures on my Global Forex Trading demo account. I have about 10 more days of that (started with $5k and working my way back to even... slowly.) Well as I did that, ABX continued to chop around eventually stopping me out at 51.40. I'm actually somewhat relieved to be out. I saw many trading sites talking about the profit-taking in the mining and precious metal industries right now today. Therefore, my feelings weren't hurt too bad; the ol' ego was a little bruised though.
Well, since I have to abide by the NASD's unconstitutional Pattern Day Trader rule, I only have one more daytrade for the next 5 days... hell, that rule is supposed to protect you; consider that holding over night is really the only way to get around it. Does that sound too enticing to any short-term traders in this market right now??
Enough with this for today... I need to find some fingernail clippers.
Monday, March 3, 2008
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...
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...
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