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3 Oct

$1,742 In Profits Today, Tuesday’s Watch List

by

AERN is a pump that just got started today. I’ll be looking to play it long before shorting it once the pump is over. Today’s volume was good so if it continues tomorrow my goal will be to day trade the stock but nothing overnight. Stocks like this aren’t for beginners but experienced traders can game them for predictable scores during the promotion phase.

The POTG pump is in full effect again which means I’m looking to short this stock again. Signals that it’s ready to sell include any parabolic action, especially a gap and run or a gradual fade with some big sellers appearing on the offer. Goal is anything around $.40 as early entry. Support is at $.20 so that makes for a solid range, especially if it spikes again. My gut says this one is coming down soon, there are only so many suckers willing to hold this long and my guess is most of them got burned the first time around.

JVA is starting to make a turn and I’d like to be in it when it does. Drifted in today with 1k shares at $7.53 and plan on adding 2k more if it starts to curl. Short interest is high on JVA so when it turns they’ll be covers to help us along. Entry here might be premature, I’ll know more tomorrow but today’s small drop 1% drop despite the market dive suggests sellers could be done. If it turns I’d think $2 per share is reasonable since there has been no substantial bounce yet.

YHOO buyout rumors are running again and that’s caused a nice bounce off $13. Since a buyout is no secret to Wall Street I wouldn’t expect much but think $2 per share upside on any announcement is possible. I grabbed 1k into the close at $13.54 assuming good support at $13. Keep in mind, any news that a buyout isn’t in play could send shares down quickly so that’s why I don’t want to be big overnight. I’ll buy more Tuesday in a bull market and play the momentum intraday and scale back to 1k shares for the overnight buyout hype. Support at $13 with resistance at $14.18 and $15.

Day traded AMR in chat for on the wash for about $1,000 in profits off the bottom but didn’t want to be long this stock overnight. It’s currently up $.15 in AH with hits at $2.15 and I’d expect this one to bounce again tomorrow as the overblown bankruptcy fear rumors subside i.e. EK Friday into Monday. This will be a day trade only as I don’t trust it overnight. Big drops like this provide solid and predictable 5% moves which add up fast on 10k blocks.

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2 Comments

  1. edward murphy

    These “pump and dumps”: how much in advance are you privy to get in on the “pump”
    thanks

    Reply
    • Jason Bond

      Not at all sorry, it’s simply not legal. However, subscribing to as many NL’s as I do and filtering through all the BS on the message boards can give you an edge. That’s been my experience and I share it with my members daily.

      Reply

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