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6 Jan

First Week Back Has Been Great, Updates For 1/6/2012

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Futures are up slightly and if we get some good data we’ll probably finish the week strong like I thought we would Tuesday.

Off to a good start with almost $10,000 in realized profits this week so far. It’s been a very busy week for me trying to get us over to Profitly by the end of next week but we’re on schedule to launch on Monday January 16th and my guess is that we’ll have access sooner than the launch.

I’ll do a video for everyone who could not make last night’s class or needs a refresher on how it will all work. Once all this is done then my goal is 100% stocks during market hours. Tomorrow is my video shoot and once that’s over my work is done and we’ll be back to normal Monday. I have meetings next Friday so I won’t be in chat.

U.S. stock futures edged higher Friday, with investors awaiting the release of December nonfarm payrolls and other jobs data for clues to the strength of the economic recovery.

Nonfarm payrolls data are expected to show the creation of 150,000 jobs in December, according to a MarketWatch survey of economists, with employment growth picking up steam in the wake of stronger consumer spending.

The unemployment rate, however, is forecast to edge up to 8.7% from 8.6% in November.

PEIX (Swing day #2) – Massive bump in volume again 10-15 minutes after my alert and I think it’s twice now that I’ve positioned us perfectly on PEIX squeezing shorts right when they thought a win was coming and forcing them to cover / drive shares up. I locked in profits on half just to be safe which gives me a good cushion to ride this other half out a while and not risk a loss. If you ever see a stock jump 10+ in an hour…for the love of God please take it too! I’m swinging 12,500 shares and my goal is just below $1.30 although yesterday’s price action leads me to believe that might be tougher than I thought (I’d have like to see us close strong).

PZZI – Up $1,000 this one isn’t really doing much yet. I’d really like to see it run so we can get profits so I’m watching closely and will keep you posted if I make any decisions. Hopefully they’ll have some news today or some short cover pushes the price higher for us.

MCP – This long term trade is going well and I still want $3 per share or more out of it – hopefully it’ll deliver today if we get a bull market. Right now I’m up $1,200 and have an order to sell in just under $28.

QPSA – Boring! But I’m not giving up just yet and might be a buyer down here. Let’s see what today brings because as we creep up on earnings I think QPSA is going to head higher. If I can get my average to just above $3 I’ll be feeling great. Keep in mind this is the first earnings where myYearbook is in the numbers so I might look to add some soon or sell and then buy back later. Hard to say when the earnings runup will start but given this catalyst I think it could be sooner than later.

USAT – I’ll be looking to add 15,000 shares at some point and keep you posted if I do. At this point I’d take anything $1.30 – $1.60 but if it starts moving in our direction don’t be surprised if I sit on this one into earnings since they already gave guidance on this quarter a month ago.

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